This Is The Poorest Town in New York State
The disparity between the wealthiest Americans and the poorest Americans continues to rise in this country. What this looks like varies from state to state, and from town to town.
Unfortunately, every state has to have a "poorest town." It's just the nature of things. But what does it mean to be the "poorest"?
A recent article from 24/7 Wall Street uncovered the poorest town in each of the 50 states. To establish this, they looked at the average household income as reported to the U.S. Census Bureau's 2020 American Community Survey. In this study, a "town" is any populated area between 1,000 and 25,000 residents.
According to the survey, the average household income nationwide in 2020 was $67,521. Many of the towns on the list reported household incomes far below this, and even as low as $12,000 in some states.
So what is New York's poorest town?
KASER, NEW YORK
Ever heard of Kaser, New York? It's a small town downstate in Rockland County, about 30 minutes northwest of White Plains.
Here's how 24/7 Wall Street broke down the metrics:
> Median household income: $23,030 (New York: $71,117)
> Adults with at least a bachelor’s degree: 3.6% (New York: 37.5%)
> Poverty rate: 63.3% (New York: 13.6%)
> Median home value: $1,096,200 (New York: $325,000)
> Population: 5,367
Interestingly, Wikipedia says Kaser is the "most densely populated municipality in New York State," even higher than New York City. It also has a population consisting almost entirely of Hasidic Jews of Romanian descent.
But even though the town is seemingly very poor, you might think twice about scooping up some cheap property there. The study says the median home value is over $1 million. How is that even possible?