by Kristen Carney
Updated: June 20, 2024
The richest city in Virginia is Keswick in Albemarle County with an average household income of $521,186 as of 2022. While exceptionally affluent, Keswick only has a population of 336 as of 2023. The richest city in Virginia with at least 5,000 people is Great Falls in Fairfax County with an average household income of $373,735 as of 2022 and 14,968 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Keswick | Albemarle | 336 | $521,186 | $250,001 |
2 | Great Falls | Fairfax | 14,968 | $373,735 | $250,001 |
3 | McLean | Fairfax | 49,587 | $364,093 | $250,001 |
4 | Difficult Run | Fairfax | 10,434 | $340,649 | $250,001 |
5 | Great Falls Crossing | Fairfax | 1,462 | $338,882 | $250,001 |
6 | One Loudoun | Loudoun | 2,779 | $316,640 | $250,001 |
7 | Lowes Island | Loudoun | 11,265 | $304,617 | $204,596 |
8 | Wolf Trap | Fairfax | 15,712 | $301,790 | $246,563 |
9 | Union Mill | Fairfax | 4,302 | $300,620 | $238,667 |
10 | Clifton | Fairfax | 240 | $290,422 | $219,500 |
11 | Crosspointe | Fairfax | 5,305 | $284,932 | $250,001 |
12 | Bull Run CDP | Fairfax | 7,504 | $283,034 | $240,750 |
13 | Penhook | Franklin | 1,390 | $274,327 | $96,583 |
14 | Wyndham | Henrico | 12,110 | $273,933 | $225,038 |
15 | Dunn Loring | Fairfax | 8,707 | $272,715 | $238,734 |
16 | South Run | Fairfax | 6,940 | $268,769 | $241,786 |
17 | Vienna | Fairfax | 16,306 | $265,744 | $215,556 |
18 | Navy | Fairfax | 3,638 | $253,708 | $221,000 |
19 | Brambleton | Loudoun | 22,796 | $252,352 | $234,750 |
20 | Broadlands | Loudoun | 14,582 | $252,252 | $231,854 |
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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