The amount of money people are earning is increasing quickly in the United States. In 2022, the U.S. Census Bureau estimated that the average income for a household in the country was almost $75,000. This is an increase from around $69,700 in 2021. The increase of 7.2% was the biggest compared to any year since at least the mid-1990s.
The average American household is earning more money than in the past, but these increases in income have not kept up with the rising cost of living. In 2022, the average rate of inflation reached a 40-year high of 8%. This is four times higher than the Federal Reserve’s target rate of 2%. Considering the increasing cost of living, the actual incomes in the U.S. decreased by almost 5% from 2019 to 2022.
Although rising prices have affected everyone, Americans with lower incomes have been the most affected. When prices are going up, wealthy Americans can spend less and lessen the effect of the increasing costs. On the other hand, Americans with lower incomes, who have to spend more of their money on things like food, housing, and gas, are unable to do so.
New York has a high earning population compared to other states, with a median household income of $81,386. However, in many areas of the state, the average household income is much lower than the median income for the entire state.
Based on data from the U.S. Census Bureau’s 2022 American Community Survey, 24/7 Wall St. has found the 35 counties in New York with the lowest income levels. Counties in the state are ordered based on the average income of households. The population, poverty, and unemployment data are estimates for a five-year period from the 2022 ACS.
On this list, the median household incomes of the counties range from approximately $12,500 to $34,400 below the median income of the entire state. In certain areas, people earn less money than the average. This is because there are not many job options available, and the jobs that are available pay low wages. The ACS reports that the average unemployment rate in New York over the past five years is 6.2%. In some counties on this list, the average jobless rate over the past five years is higher than the average rate for the entire state. In one county, the unemployment rate is above 10%.
The Poorest Counties in New York
Bronx County
- Median household income: $47,036
- Poverty rate: 26.9%
- 5-yr. avg. unemployment rate: 11.2%
- Population: 1,443,229
Chautauqua County
- Median household income: $54,625
- Poverty rate: 17.5%
- 5-yr. avg. unemployment rate: 5.4%
- Population: 127,440
Montgomery County
- Median household income: $58,033
- Poverty rate: 15.1%
- 5-yr. avg. unemployment rate: 5.9%
- Population: 49,624
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Broome County
- Median household income: $58,317
- Poverty rate: 19.1%
- 5-yr. avg. unemployment rate: 6.9%
- Population: 198,365
St. Lawrence County
- Median household income: $58,339
- Poverty rate: 17.0%
- 5-yr. avg. unemployment rate: 6.3%
- Population: 108,670
Franklin County
- Median household income: $60,270
- Poverty rate: 17.9%
- 5-yr. avg. unemployment rate: 5.1%
- Population: 47,459
Fulton County
- Median household income: $60,557
- Poverty rate: 13.9%
- 5-yr. avg. unemployment rate: 4.3%
- Population: 53,280
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