Thursday, September 19, 2013

Poverty and income essentially unchanged

Maryland's poverty rate and median household income were essentially unchanged in 2012, according to new data from the American Community Survey.
  • 2012 MD Poverty Rate: 10.3 percent
  • 2012 MD Median Household Income: $71,122
The poverty rate has steadily increased since the beginning of the Great Recession, from 8.1 percent in 2008 to its current peak. This mirrors the story in most of the rest of the country, as poverty remains high despite the economic recovery. I suspect this graph has something to do with it.

Maryland continues to have the highest median household income of any state at more than $71,000 (though we also know that 35 percent of Maryland households make less than $50,000). The state's median household income is about $1,000 more (in 2012 dollars) than it was in 2000.

Our neighbors to the south actually saw a decline in median household income, so much so that Virginia is now about $1,000 below (in 2012 dollars) their 2000 level. Virginia's poverty rate is also higher, at 11.7 percent in 2012.

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