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Washington, D.C. is Capitol of the Young and Wealthy

Watch out 90210.

A recent research by The Nielsen Company shows that two of District of Columbia ‘s counties top the list of areas that have attracted 25 to 34 years old individuals earning 6-figure salaries. The report states, “… A new demographic spotlight finds that 16 of the top 50 counties where the highest concentration of the young and wealthy live are in the Washington D.C. area… Over the last two decades, the D.C. area has surged in popularity with the young and moneyed. Back in 1990, top-ranked Loudon County was in 24th position. By 2000, it had moved up to fourth place. Arlington, now second, was eighth in 1990 and third in 2000.”

Speaking to Reuters, Michael Mancini, of the said company, believes “… part of the appeal of the Washington area is jobs in both the private and public sector. It also has strong education and healthcare institutions, a moderate climate and easy access to recreational facilities.” We’re sensing a lot of graduates this year betting their careers in this city. And it’s not just because of the career opportunities that (somehow) abound in these areas; it’s mainly because nobody wants to join the massive statistics of unemployed Americans. It might be quite insulting to say Washington, D.C. will be their refuge but unless you’re still not aware, we’re in a recession – a very serious one.

D.C. isn’t the only place of interest. New York, Ohio, Minnesota, Colorado, Georgia, and California had their counties in the top ten.

Some of you might wonder why the Golden State managed to sneak in when its real estate market is being hit so badly by the crisis. The Nielsen report states that 7.83 percent of the surveyed population in San Francisco earns more than $100,000. When you’re between 25 and 34 with a 6-figure paycheck, it’s highly possible that you’re a first time homebuyer; so there’s a lower possibility that you were caught in the foreclosure mess, and you’re finances have hit rock-bottom now. Indeed, you’re one of the privileged few that this country has produced.

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