Special Report

Farmington, NM Ranks Among the Poorest U.S. Cities

ivanastar / iStock Unreleased via Getty Images

For the first time in nearly a decade, poverty is on the rise in the United States. The number of Americans living below the poverty line climbed from 38.4 million in 2020 to 41.4 million in 2021, a 7.9% increase. The rapid rise came after seven consecutive years of declines in the number of people living in poverty and is the largest single-year increase since the Great Recession of 2008 and 2009.

Currently, the federal poverty threshold stands at an annual income of $14,580 for an individual and $30,000 for a family of four, with slightly higher thresholds in Alaska and Hawaii. The consequences for those living in poverty are devastating and far reaching. And for the 12.2 million American children living below the poverty line, some negative effects can last a lifetime.

According to the U.S. Census Bureau’s 2021 American Community Survey, the national poverty rate is 12.8%. In some major U.S. cities, however, the share of the population living below the poverty line is far higher.

The Farmington metropolitan area in New Mexico, for example, is one of 23 U.S. metro areas where more than one in every five people live below the poverty line. The 26.7% poverty rate in Farmington is the fourth highest of the 386 U.S. metro areas with available data.

Additionally, the typical metro area household earns $47,819 annually, about $21,900 less than the national median household income of $69,717.

All data on poverty rates and median annual household income are one-year estimates from the U.S. Census Bureau’s 2021 American Community Survey.

 

Rank Metro area Poverty rate (%) Median household income ($) Unemployment rate, 2022 (%)
1 McAllen-Edinburg-Mission, TX 29.3 $44,818 6.5
2 Valdosta, GA 27.6 $42,233 3.2
3 Monroe, LA 27.2 $45,001 3.7
4 Farmington, NM 26.7 $47,819 4.6
5 Brownsville-Harlingen, TX 24.7 $48,115 5.7
6 Merced, CA 23.5 $53,992 7.7
7 College Station-Bryan, TX 23.4 $49,927 3.2
8 Beckley, WV 22.7 $38,737 4.0
9 Greenville, NC 22.5 $44,450 4.1
10 Laredo, TX 22.4 $51,867 4.1
11 Blacksburg-Christiansburg, VA 22.3 $54,737 2.9
12 (tied) Brunswick, GA 21.8 $54,561 3.0
12 (tied) Saginaw, MI 21.8 $50,606 5.6
12 (tied) Madera, CA 21.8 $63,454 6.1
15 Shreveport-Bossier City, LA 21.4 $48,164 3.7
16 Jonesboro, AR 21.0 $47,935 2.8
17 Danville, IL 20.9 $49,091 5.0
18 (tied) Macon-Bibb County, GA 20.8 $53,397 3.5
18 (tied) Odessa, TX 20.8 $57,473 3.9
20 Bloomington, IN 20.7 $52,588 2.8
21 Sumter, SC 20.3 $43,210 3.8
22 (tied) El Paso, TX 20.1 $51,002 4.3
22 (tied) Lawton, OK 20.1 $49,422 3.6

 

Smart Investors Are Quietly Loading Up on These “Dividend Legends”

If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.

Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.