By Mary Prenon
In a population survey released on Sept. 9, the Census Bureau revealed that America’s median household income rose by more than $1,000 from 2023 to 2024—from $82,690 to $83,730.
While the nation’s official poverty level dropped 0.4 percent to 10.6 percent in 2024, there were still 35.9 million people living in poverty.
Another poverty estimate, the supplemental poverty measure (SPM), last year was measured at 12.9 percent. The Bureau determines the official poverty rate based on pre-tax income, which is exclusive of tax credits. The SPM represents post-tax income and includes other benefits.
The Bureau uses various indicators to determine the poverty threshold based on the number of people comprising one household and the household income.
One positive economic indicator is that 92 percent of the country’s population had health insurance coverage for all or part of 2024. However, that still leaves an estimated 27.1 million—8 percent—of people without health insurance at any point last year.
Regarding income, the report found that between 2023 and 2024, America’s Asian households experienced an income increase of 5.1 percent, while Hispanic households saw 5.5 percent. Median income remained flat for Caucasian households and decreased by 3.3 percent for black households.
Full-time male employees saw their wages increase by 3.7 percent. There was no significant salary change reported for females from 2023 to 2024, resulting in a slight drop in the female-to-male earnings ratio. In 2024, women earned 80.9 cents for every dollar a man earned, down from 82.7 cents for every dollar in 2023.
Comparing the poverty rate by demographics, the official rate decreased for Caucasian, Asian, and Hispanic individuals, but remained stagnant for other racial groups.
Between 2023 and 2024, SPM rates rose for those aged 65 or older, as well as for black individuals, but showed little change for other groups.
A three-year (2022 to 2024) average of official poverty rate measurements found a high number of children under the age of 18 living in poverty: 10,770.
Louisiana had the highest percentage of children in poverty at 27.7 percent. New Mexico measured an official poverty rate of 24.2 percent, followed by Mississippi at 23.2 percent, Kentucky at 22.3 percent, and Arkansas at 20.3 percent.
Utah registered the country’s lowest poverty rate at just 5.8 percent for children under 18. New Hampshire followed with an 8.2 percent, Wyoming at 8.3 percent, Nebraska at 8.4 percent, and Minnesota at 9.2 percent.
Among those aged 18 to 64, Louisiana also had the greatest percentage of those living in poverty, followed by Mississippi, New Mexico, West Virginia, and Kentucky. The 65-plus population reflected poverty percentages in similar states, with the District of Columbia added to the mix.
New Hampshire reported the lowest poverty rate among 18 to 64-year-olds, at just 5.8 percent. Minnesota, Virginia, Vermont, and Maine all had levels below 7.5 percent. Among those 65 and older, Wisconsin had the lowest percentage of those living in poverty at just 5.3 percent. Other states with low poverty percentages for this age group included Kansas, Iowa, Vermont, and Oregon—all at under 7 percent.
Concerning health insurance, the Bureau noted that last year private health insurance coverage continued to outweigh public coverage by 66.1 percent to 35.5 percent, respectively.
Employment-based insurance comprised 53.8 percent of the national coverage, followed by Medicare at 19.1 percent, Medicaid at 17.6 percent, and direct purchase at 10.7 percent. Private coverage rates saw an overall increase of about 0.7 percent from 2023 to 2024.
For children under 19 and adults aged 19 to 64, private coverage rates rose slightly, while public coverage rates decreased.
