This Town In Maryland Is Considered To Be The Poorest In The State!

mocobizscene – the U.S. Census Bureau unveiled the most recent five-year estimates from the American Community Survey. This ongoing nationwide demographic snapshot gathers social, economic, and housing characteristics from millions of households annually.

The average income of the typical American household over the five years ending in 2021 was $69,021, as per the latest data. Although this amount reflects a modest 6% rise compared to estimates from the previous five-year period ending in 2020, for the majority of Americans, any income growth has been negated by the sharp increase in inflation.

Insider Monkey, the well-known online finance site, has recently unveiled a list of the country’s poorest communities. This newly released ranking sheds light on the areas that are experiencing the most severe economic challenges.

The data from the U.S. Census Bureau’s 2021 American Community Survey (ACS) on poverty status during the previous 12 months was used to determine the poorest cities in each U.S. state. The poorest cities in each state were recognized as those with the highest poverty rates. For the rankings, only cities that participated in the poll were considered.

This Is the Poorest Town in Maryland

The U.S. Census Bureau recently released five-year estimates from the American Community Survey, highlighting statistics on social, economic, and housing characteristics across the country. Among these findings, a stark contrast emerged in Maryland, where the typical household income is significantly higher than the national average, but certain pockets of the state struggle with poverty.

Federalsburg, a small town with a population of approximately 2,800, holds the unfortunate title of the poorest in Maryland. The median household income in Federalsburg sits at a mere $31,532, a staggering 65.5% lower than the state average of $91,431.

This stark difference is reflected in the poverty rate as well. While the average poverty rate in Maryland stands at 9.2%, Federalsburg experiences a significantly higher rate of 28.4%. This means that nearly one-third of the town’s residents live below the poverty line.

The low income levels in Federalsburg are attributed to several factors, including limited job opportunities, a decline in manufacturing jobs, and a lack of access to higher education. These factors create a cycle of poverty that is difficult for residents to escape.

However, amidst the challenges, there are efforts underway to revitalize Federalsburg. Community organizations and local businesses are working together to attract new businesses, create job opportunities, and improve access to education and resources.

One such initiative is the Federalsburg Main Street Program, which aims to revitalize the town’s historic downtown district by attracting new businesses and promoting economic development. The program has already seen some success, with new businesses opening up and existing businesses expanding.

Another important initiative is the Federalsburg Public Library, which provides residents with access to books, computers, and educational programs. The library also offers a variety of community events and services, such as job search assistance and financial literacy workshops.

While the challenges facing Federalsburg are significant, there is hope for the future. The town’s residents are resilient and determined to improve their lives. With the help of community organizations and government initiatives, Federalsburg can overcome its challenges and build a brighter future for its residents.

The data presented in this story are based on five-year estimates from the U.S. Census Bureau’s 2021 American Community Survey. For this story, towns are considered as incorporated legal entities or census-designated statistical areas with populations ranging from 1,000 to 25,000 people.

This definition also includes communities that coincide with college or university campuses. However, towns were excluded if their median household income was not available in the 2021 ACS or if the sampling error associated with their data was considered too high.

Table Source: 247wallst.com

Disclaimer: This article is purely informational and based on third-party reports, specifically referencing an article published by insidermonkey.com and 247wallst.com

Read More:

• This Highest Highway in New York Will Make Any Driver’s Palms Sweat and Feel Nervous!
• Where is the ‘Home Alone’ house located and how much is it worth now!