Axios - New census data out this morning shows three groups are falling behind the rest of the country financially: seniors, renters and rural residents.
- The winners of America's post-pandemic rebound are clustered in educated metro areas and own homes outright, Axios' Russell Contreras writes.
The numbers expose a structural reshaping of American economic life.
- College-educated metros are accumulating wealth, connectivity and political influence.
- Rural and micropolitan areas (10,000-50,000 people) are improving more slowly and sometimes slipping backward.
- Older Americans are increasingly house-rich but income-poor. Renters bear the brunt of inflation in a country where homeownership is slipping out of reach for younger adults.
- Median income rose 4.4% after inflation. But most counties saw no meaningful gains, illustrating how growth was confined to urban areas.
- And in a stunning warning for the rapidly aging U.S., poverty rose for seniors in 800+ counties over the past five years.
- Rents rose in more than four out of five counties.
- Mortgage payments held flat, largely because many homeowners either refinanced at ultra-low rates or paid off their homes entirely.
The U.S. median household income rose to $80,734, the 2020–24 American Community Survey released today and previewed by Axios showed. That's a 4.4% jump from 2015–19 after inflation.
- The national poverty rate is 12.5%, down from 13.4%.
Nearly 38% of adults 25 years or older had a bachelor's degree or higher in metro areas, up from 34% five years earlier. Share this story.
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