Montgomery County is a great place to live, work, and visit, but it faces economic challenges. One of the most serious problems is that residents’ incomes are stagnating, which is a sign that overall prosperity and quality of life might be stagnating also. The county’s median household income has not kept up with inflation since 2005.1 The third quarter 2023 Montgomery County Economic Indicators Briefing 2 noted that Montgomery County had the slowest growth rate in per capita personal income from 2004 to 2021 among 30 similarly sized counties, barely keeping up with inflation.3
But these top-line statistics don’t explain the full story. While multiple factors could underlie this stagnancy, one trend we can examine is how Montgomery County’s … Continue reading