Baltimore?s income among nation?s highest

The region?s 2006 per-capita income increased about 5.4 percent from $41,320 in 2005, when the Baltimore region ranked 20th in the nation.

“This is a great indicator that the Baltimore region is a solid economic growth area,” said Donald C. Fry, president and CEO of the Greater Baltimore Committee. “The Baltimore region has a very highly educated population, which means there are high-paying jobs in the area.”

The Baltimore region, which includes Baltimore City and Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Anne?s counties, slipped one spot in the rankings because Midland, Texas, jumped from 22nd to 15th with a 10.8 percent increase in per-capita income.

Howard County traditionally has reported the highest median household income in the state, said Dick Story, CEO of the Howard County Economic Development Authority.

“We?re centrally located between Baltimore and Washington, which positions Howard County very well,” Story said. “There is money in motion in the Baltimore region.”

The Washington region remained fifth in the nation with a per-capita income of $51,207 in 2006 ? a 5.2 percent increase from $48,697 in 2005.

“The Washington area, with all of its government jobs, is always high in terms of per-capita income, and Baltimore kind of piggybacks on that,” said John Bouman, an economics professor at Howard Community College.

“Incomes in the city and surrounding counties are high to begin with,” Bouman said. “The cost of living, along with the cost of homes, drives up income in the whole area as well.”

The top 10 metropolitan regions remained the same from 2005, with the top eight maintaining their rankings.

The top five regions saw their per-capita incomes increase by an average of 6.4 percent.

See the full lisfrom the U.S. Department of Commerce.

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Discussion Question: Are you surprised with the region?s ranking?