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Reply to "America’s Richest (and Poorest) States"

Bixby Creek Bridge on Highway One, California driving

9. California
> Median household income: $64,500
> Population: 39,144,818 (the highest)
> 2015 Unemployment rate: 6.2% (7th highest)
> Poverty rate: 15.3% (19th highest)

A typical California household earns $64,500 a year, far higher than the national median income of $55,775. The cost of living is especially high in California, however, with goods and services costing an average of 12.4% more than they do across the country. Relatively high incomes are likely driving up home values. The typical home in the state is worth $449,100, more than double the value of the typical American home.

Although California is home to some of the wealthiest individuals nationwide, 15.3% of state residents live in poverty. California is one of a handful of rich states with poverty rates above the national poverty rate of 14.7%. Indeed, income inequality as measured by the Gini coefficient is more pervasive in California than in all but three other states.

FM
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