February 23, 2012 | 8:45 AM | By

How Large is D.C.’s Income Gap?

D.C.’s income gap between the rich and poor is one of the largest in the nation, and it’s growing. The Washington Examiner breaks down the District’s income gap by neighborhoods. Georgetown is on one end of the spectrum, where the average household brings in $155,532 a year. On the other end: Bellevue/South Capitol, where the average household earns $29,695 yearly.

The District’s income gap also breaks down along racial lines; on average, African Americans earn $1 for every $3.06 whites earn.

“In a recession the poor get poorer and the rich get richer,” said Richard Clinch, a University of Baltimore economist.

He said income gaps tend to widen during and after recessions because companies start handing out raises again but don’t resume hiring. But the District’s rising gap is also indicative of its appeal to the well-heeled.

Read more at: washingtonexaminer.com