Household incomes fell in a third of states last year
investmentnews.comHousehold incomes fell in a third of all states nationwide last year, while just five saw median income levels improve, according US Census Bureau data.
Household incomes fell in 17 states, mostly in the upper Midwest, one-year estimates from the American Community Survey found. Michigan, Pennsylvania, and Ohio — widely considered to be swing states in the 2024 US presidential election — are among those with falling household incomes.
Florida, Alabama and Utah were among states that saw incomes rise. The majority of states were relatively unchanged last year, according to the survey.
In the US overall, median income last year was $74,755 — a decline of 0.8% from 2021 after adjusting for inflation. Incomes by state ranged from a high in New Jersey of $96,346 to a low of $52,719 in Mississippi.
The Census Bureau’s American Community Survey is an annual survey that covers a broad range of topics about social, economic, demographic, and housing characteristics of the US population.
The share of older Americans living in poverty grew in 19 states, while the poverty rate for those age 65 and over was unchanged in 31 states. No states saw a decline. In states such as Louisiana and Mississippi, almost 15% of older people lived in poverty last year, according to the survey. Even in wealthy states like New York, close to one in eight older people were considered poor.
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