If you want to make some money head to the nation’s capital, that’s because according to the annual report of city incomes, the DC area holds the highest average household income in the country. Residents have a medium household income of just more than $85,000.
Not only that, but it’s only one of two cities in the top 52 largest areas (cities with population over 1 million) that saw a flat or improved income level in 2009. San Antonio was the only other city that didn’t post a loss in average income, growing .5 percent from 2008 levels.
“This goes to how broad-based the downturn was,” said chief economist of Moody’s Analytics Mark Zandi to CNNMoney. “During other recessions, a region or two avoided the recession. This time, none did.”
Zandi went on to credit the regulatory environment for the stability in DC income levels, as more businesses move into the area to support the new laws. Of the cities showing the most declines in income, poor Detroit came in at the top of the list with a 10 percent drop, according to the Census Bureau report. Orlando also nearly saw a 10 percent drop in income, while Cleveland fell 8.5 percent.