Discussion Paper

Recent Updates to Metropolitan Statistical Areas in the Fifth District

Abstract: The Richmond Fed hosts many timely data products on its website that help inform our readers of economic activity. For example, our Regional Economic Snapshot provides updates on Fifth District labor markets, housing conditions, and other state and local economic indicators. The data we use primarily comes from federal government sources, but recent changes to how federal agencies define metro areas affect our reporting. It is common to hear the phrase "metro area" refer to a city and its surrounding area, often in the context of traffic jams, the weather forecast, or someone's hometown. But when economists or policymakers talk about a metro area — or metropolitan statistical area (MSA) — they are referring to a defined geographic and economic unit that is an important feature of the U.S. economy. For example, metro areas account for about 86 percent of the population within the United States and over 90 percent of the nation's gross domestic product (GDP). The Fifth District's MSAs had a combined GDP of approximately $2.5 trillion1,2, with the Washington-Arlington-Alexandria, DC-VA-MD-WV MSA, accounting for approximately $600 billion, the highest within the Fifth District.

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Regional Matters

Publication Date: 2025-10-02