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.
This article appears in Oct 8-14, 2014.