New Report Says This Is The Poorest Town In North Dakota
In a world where we're all trying to make our money stretch, there are some places in North Dakota that feel the financial squeeze more than others.
A report by 24/7 Wall Street recently listed the poorest towns in every state and it’s pretty bad news for one North Dakota town.
New Rockford was officially named the poorest town in the state, according to this study.
The report looked at places with populations between 1,000 and 25,000 people. It ranked them based on how much money the typical household makes.
With a population of just over 1,300 people, New Rockford’s typical household makes only $35,595 a year.
Compare that to North Dakota's overall median income of around $68,000; it's a big gap.
17.2% of households in New Rockford get SNAP benefits, way more than the North Dakota average of 6.4%.
On top of that, the typical home in New Rockford is worth $88,000, while in North Dakota, it's $209,000. That's a massive difference.
Although we’ve seen a slight improvement lately, inflation rates are still high, nearly double what the experts say is ideal. It's no surprise that this is hitting low-income families the hardest.
And even worse, it doesn't look like this inflation issue is going away anytime soon, not just for New Rockford but for the whole state and even the whole country.
New Rockford's story is a real eye-opener. It shows the big money gaps people in North Dakota are dealing with, and it's a reminder that we need to figure out how to help people having the biggest struggles during these tough financial times.
But it’s also a reminder to appreciate what you’ve got, and the only time you should look at what your neighbor has, is to make sure that they have enough.
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