Michael Sauter summarized 24/7WallStreet’s recent report on America’s richest and poorest towns for CNBC..

Currently, 24/7WallStreet indicated that America’s typical household income equaled $57,652 in 2017, $6,000 higher than 2009’s median household income of $51,425. A $6,000 increase in household income over a decade is nothing to write home about but this increase is going in the right direction.

The problem, however, is that higher incomes since the Great Recession have created more income inequality. Some small towns and suburbs reflect median household incomes that are 3X – 4X higher than the nation’s median income across the board. Conversely, some small towns and suburbs reflect household incomes that are well below median incomes nationally.

While analyzing data gleaned from its research, 24/7WallStreet found that education was a key determinate of income. Typically, the higher one’s level of education, the higher one’s income level.

Take a look at the five richest and five poorest towns in America. Pay attention to the data points specified as they are not consistent.

Five Richest Towns in America @ 24/7WallStreet

  1. Los Altos Hills CA
    1. Median household income – $248,218
    2. Median home value – $2,000,000
    3. Adults with BA degrees – 83.5%
    4. Poverty rate – 4.2%
  2. Great Falls VA
    1. Median household income – $230,450
    2. Median home value – $1,130,400
    3. Adults with BA degrees – 81.3%
    4. Poverty rate – 3.1%
  3. Tavilah NY
    1. Median household income – $225,104
    2. Median home value – $1,072,600
    3. Adults with BA degrees – 79.0%
    4. Poverty rate – 2.6%
  4. Wolf Trap VA
    1. Median household income – $218,750
    2. Median home value – $891,100
    3. Adults with BA degrees – 84.3%
    4. Poverty rate – 1.7%
  5. Winnetka IL
    1. Median household income – $216,875
    2. Median home value – $1,019,800
    3. Adults with BA degrees – 89.3%
    4. Poverty rate 0 3.2%

Five Poorest States in America @ 24/7WallStreet

  1. West Virginia
    1. Median household income – $43,469
    2. Unemployment rate – 5.2% (3rd highest in country)
    3. Adults with BA degree – 20.2%
    4. Poverty rate – 19.1%
  2. Mississippi
    1. Median household income – $43,529
    2. Unemployment rate – 5.1% (4th highest in country)
    3. No data available @ adults with BA degrees
    4. Poverty rate – 19.8% (highest in country)
  3. Arkansas
    1. Median household income – $45,869
    2. Unemployment rate – 3.7%
    3. Adults with BA degree – 23.4%
    4. Poverty rate – 16.4% (7th highest in country)
  4. Louisiana
    1. Median household income – $46,145
    2. Unemployment rate – 5.1% (5th highest in country)
    3. No data available @ adults with BA degrees
    4. Poverty rate – 19.7% (tied for 2nd place with New Mexico
  5. New Mexico*
    1. Median household income – $46,744
    2. Unemployment rate 0- 6.2% (2nd highest in country)
    3. No data available @ adults with BA degrees
    4. Poverty rate – 19.7% (3rd highest in country)
  • New Mexico is one of six states that has experienced NO significant increase in household income levels over the past five years.

 

Click below to see the complete list of America’s richest states, according to 24/7WallStreet.

 

https://247wallst.com/special-report/2019/06/07/americas-richest-towns-3/2/