Washington Business Journal reports on the Greater Washington Initiative annual report (you can download the whole thing here if you're willing to part with a little bit of personal information). Our region had the highest median household income in 2006 among metro areas, at $74,600, and nearly 46 percent of Greater Washington's residents 25 years or older have at least a bachelor's degree.

But the report also says Greater Washington's cost of living is 42 percent higher than the national average, and its current median housing price of $431,000 is the fifth-highest among U.S. metro regions.

Looking ahead, Greater Washington's population is expected to grow to 6.5 million people by 2012, or an increase of 6 percent, the report says. The median household income is projected to jump to $86,980 by 2012, an increase of 16.5 percent from 2006