Wednesday, October 8, 2014

Florida is one of the poorest states in the nation

Posted By on Wed, Oct 8, 2014 at 5:34 PM

click to enlarge Image via WalletHub
  • Image via WalletHub

Image via WalletHub

Following today's news from Bloomberg Business Week that poverty in Orlando is nearing 20 percent, it should come as no surprise that, according to a study by WalletHub, Florida in one of the poorest states in the nation. No. 38, to be exact. Another sobering Florida statistic, we're No. 5 for the highest percentage of households earning between $25,000 and $49,999, with Idaho, South Dakota, Arkansas and Oklahoma claiming the 1-4 spots.

To determine these rankings, WalletHub used three key metrics: tax dollars per capita, income and GDP per capita. 

Some other interesting facts from the study:

  • Red states tend to be poorer than blue states
  • District of Colombia and New Jersey tied for the richest state in the nation
  • The poorest state in the nation is Mississippi
  • 2013 saw the highest number of millionaire households ever, with 7.1 million
  • Middle class households still earn about $4,500 less than they did before the recession hit

You can check out the entire study on WalletHub's website.

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