by Kristen Carney
Updated: June 20, 2024
The richest city in Maryland is Chevy Chase Village in Montgomery County with an average household income of $524,519 as of 2022. While exceptionally affluent, Chevy Chase Village only has a population of 2,027 as of 2023. The richest city in Maryland with at least 5,000 people is Travilah in Montgomery County with an average household income of $334,773 as of 2022 and 10,846 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Chevy Chase Village | Montgomery | 2,027 | $524,519 | $250,001 |
2 | Martin's Additions | Montgomery | 931 | $521,458 | $250,001 |
3 | Chevy Chase town | Montgomery | 2,866 | $474,539 | $250,001 |
4 | Chevy Chase Section Five | Montgomery | 663 | $459,139 | $250,001 |
5 | Chevy Chase Section Three | Montgomery | 791 | $447,452 | $250,001 |
6 | Brookmont | Montgomery | 3,732 | $434,332 | $250,001 |
7 | Somerset | Montgomery | 1,177 | $419,599 | $250,001 |
8 | Chevy Chase View | Montgomery | 996 | $392,119 | $250,001 |
9 | Travilah | Montgomery | 10,846 | $334,773 | $248,703 |
10 | North Chevy Chase | Montgomery | 676 | $327,096 | $238,750 |
11 | Barnesville | Montgomery | 144 | $314,023 | $211,250 |
12 | Chevy Chase CDP | Montgomery | 9,789 | $307,767 | $217,500 |
13 | Cabin John | Montgomery | 2,196 | $306,068 | $208,598 |
14 | Darnestown | Montgomery | 6,672 | $298,916 | $250,001 |
15 | Potomac | Montgomery | 46,499 | $287,918 | $218,710 |
16 | Fulton | Howard | 5,435 | $285,357 | $215,455 |
17 | Highland | Howard | 927 | $285,335 | $242,969 |
18 | Bethesda | Montgomery | 66,316 | $281,586 | $185,546 |
19 | Garrett Park | Montgomery | 982 | $275,936 | $250,001 |
20 | Beaver Creek | Washington | 422 | $262,419 | $155,500 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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