Household Income
New 2023 Demographic Data Analyzed for the Five Largest Northern Virginia Jurisdictions
The NOVA Region Dashboard’s demographics on income, poverty, educational attainment, and the foreign born population have been updated with the new 2023 American Community Survey one-year data released September 12 by the U.S. Census Bureau. View this data to stay informed and for insights on current demographic conditions and trends.
Check back on or after December 12th, for the 2023 American Community Survey five-year data analysis of all Northern Virginia jurisdictions.
Over the coming days, NVRC will be doing a series of four blogs on the data highlights and insights of this new 2023 demographic data.
This is the second in a series of posts.
Northern Virginia is known for having communities with some of the highest median household incomes in the United States.
While the median household income is high, it must be recognized that there are households of all income levels and that there are segments of the community in need of assistance that live in this prosperous region of the country. It must also be recognized that the region’s high housing costs offset the high income when it comes to standards of living and well-being.
The region's high cost of housing can be particularly burdensome for both the low and moderate income households, and a deterrent to first time home buyers. First time home buyers generally are young workers. Young workers are the lifeline to the region’s economic future and sustainability.
There is a significant need for more affordable housing for this group and low- and moderate-income households if these population groups are to remain in the region and not be lost to more affordable communities in the post-pandemic era of remote work that is here to stay. The region’s domestic out-migration has significantly increased in the era of remote work largely because of the high cost of living.
The median household income of Northern Virginia, as defined for this analysis using the region's five largest jurisdictions, is estimated to be $142,583 (in 2023 dollars). The five largest jurisdictions of Northern Virginia all have incomes higher than the Commonwealth of Virginia and the United States.
Out of the 843 jurisdictions with a population of 65,000 or more in the USA, four of the top twenty highest income jurisdictions are located in Northern Virginia, and those include Loudoun County (1st), Fairfax County (7th), Arlington County (9th), and Prince William County (16th).
About the Northern Virginia Regional Commission
NVRC is a consortium of thirteen local governments representing more than 2.5 million residents. While only 3% of Virginia's land mass, Northern Virginia has a GDP of $276 Billion which is 41.6% of the GDP of the Commonwealth of Virginia. Northern Virginia’s GDP is larger than 24 states and the District of Columbia and if a country would be the 48th largest economy in the world.