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« on: August 28, 2007, 04:01:40 PM » |
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The richest (and poorest) places in the U.S.
Maryland knocked New Jersey out of the top spot this year, while Mississippi and West Virginia were the poorest states in the Union.
By Les Christie, CNNMoney.com staff writer August 28 2007: 2:32 PM EDT
NEW YORK (CNNMoney.com) -- Maryland is now the wealthiest state in the union, as measured by median household income, according to the latest stats from the Census Bureau.
The typical Maryland household earned $65,144 in 2006, propelling it past New Jersey, which came in second with earnings of $65,470, but had led the nation in 2005. Connecticut finished in third place both years, recording a median income of $63,422 in 2006.
The median income for the United States as a whole came to $48,451.
Household incomes rose, but . . .
Income growth was highest in the District of Columbia, where it rose 6.4 percent for the year. Median income in both Nevada and New Mexico jumped 4.5 percent. Delaware, down 2.9 percent, took the biggest dip, followed by Rhode Island (down 2.0 percent) and Maine (down 1.6 percent).
Among places with 250,000 or more residents, the affluent Dallas suburb of Plano, Texas, boasts the highest median income: $77,038. San Jose came in second at $73,804 and San Francisco was third with $65,497.
Paychecks in 2008: No big bump
The list of the 10 poorest cities was filled with mostly old, northeastern and mid-western industrial locales. Cleveland had the lowest median income of any city in the nation with more than 250,000 residents; households there earned just $26,535. Miami was the next poorest at $27,088, followed by Buffalo ($27,850), Detroit ($28,364), St. Louis ($30,936) and Cincinnati ($31,103).
Other poor sun-belt cities included Memphis ($32, 593) and El Paso (33,103). With median income of $33,229, Philadelphia was the only city among the nation's 10 biggest that was also among the 10 poorest cities.
The middle class may be better off than it thinks.
Among towns of between 65,000 and 250,000 in population, Yorba Linda, California, where six-figure incomes are the rule, had the highest median income at $121,075. The Orange County town is considerably wealthier than the second place city, Pleasanton, California, in the Bay area, which had a median income of $105,956.
The lowest income town of any with more than 65,000 population was Youngstown, Ohio at $21,850, which finished last by a large margin. Muncie, Indiana was its closest rival for this dubious distinction, with residents there earning $25,859, a difference of 18 percent. Top of page
Top 10 wealthiest states
Here's where the median household income is highest
State Income Maryland $65,144 New Jersey $64,470 Connecticut $63,422 Hawaii $61,160 Massachusetts $59,963 New Hampshire $59,683 Alaska $59,393 California $56,645 Virginia $56,277 Minnesota $54,023 Source:U.S. Census Bureau
The 10 poorest states
The states with the lowest median household income
State Income Montana $40,627 Tennessee $40,315 Kentucky $39,372 Louisiana $39,337 Alabama $38,783 Oklahoma $38,770 Arkansas $36,599 West Virginia $35,059 Mississippi $34,473
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