This Is Maryland's Most Wealthy Town, New Report States

Stacker.com released a new report regarding the most wealthy towns in the US, and the DC suburb earned top marks for its "peaceful, park-like community filled with amenities and conveniences." 

The company used the most recent Census Bureau American Community Survey Five-Year Data (as of August) to determine the country's 50 most wealthy towns.

Locations were ranked by median household income, with ties broken by the percentage of people annually earning more than $200,000. 

Any places with a population smaller than 1,000 people were omitted.

The ranking found that the median household income in Chevy Chase sits at approximately $250,000 per year, which is greater than more than 225 percent of the nation, and household earnings approaching $200,000 were reported in more than 75 percent of residents.

"It is thought that Chevy Chase was named for the 'Chaces' (hunting grounds) of Cheviot Hills in the United Kingdom or the medieval French word 'chevauchee,' which refers to horseback raids along the border of Scotland and England," the ranking reads.

"In the late 19th century, two Nevada politicians, enabled by the rise of railroads and streetcars, planned the town to be a hub for movers and shakers living just outside of Washington DC." 

The ranking also highlights the median earning for workers ($129,659), the amount of residents with health insurance (98.6 percent), the low unemployment rate (3.6 percent), and the lack of families living below poverty level (3.1 percent) .

"The 'richest town' can look quite different from state to state, with some being far wealthier than others," researchers wrote.

"For instance, the country's millionaires and billionaires are concentrated in California, New York, Florida, and Texas, meaning that the lifestyle in Palm Beach is not akin to that of, say, Kildeer, Illinois."

The complete ranking of America's 50 richest towns can be found here.

Want breaking news in the DMV as it happens, or want to contribute? Join the DMV All Incidents Facebook group.

Click here to follow Daily Voice Eldersburg and receive free news updates.