Financial Stability

Indicators of financial stability are a critical benchmark of a community’s well–being. In all cases, comparisons to state statistics reflect the state excluding New York City.

Regionally, median household income has declined similar to losses at the state and national levels.
After adjusting for inflation, median household income remained essentially unchanged from 2000 to 2017-21. At $80,700 in 2017-21, median incomes were above the levels for the state ($77,800) and nation ($69,000). Median incomes were higher than the region in Putnam ($111,600), Dutchess ($87,100) and Orange counties ($85,600), while Ulster ($71,000), Sullivan ($63,400) and Greene ($62,800) were lower.

Asian and white residents in the region had the highest median incomes, at $95,300 and $82,700, respectively. African American and Hispanic residents had the lowest median incomes at $63,700 and $76,100, respectively, though both exceeded rates for their respective groups in the state and nation.

Poverty rates in the region are below the nation.
In 2017-21, about 11% of the region’s residents were living in poverty, on par with the state and lower than the nation (13%). Sullivan County had the highest poverty rate in the region at 14%, followed by Ulster with 13%. Putnam County had the lowest at 6%, followed by Dutchess at 9%.

Poverty rates were highest for African American and Hispanic residents in the region (17% and 14% respectively), as was true for the state and nation. In 2017-21,  Asians and whites had the lowest (12% and 9% respectively).  About 8% of seniors and 4% of veterans were living in poverty in 2017-21. While poverty is relatively low at 11% for the region, another 13% of residents had incomes between 100% and 199% of the poverty level, and 13% were between 200% and 299% of poverty.

Living wage models suggest that this broader group of regional residents may have trouble making ends meet. The living wage measures the level of income that households require to pay for necessities, including housing and food, without assistance. The estimated hourly living wage for two working parents with two children was $27.15 in the region, or $112,900 a year, more than four times the poverty level (about $27,479) for a family of this type. A single earner with two children to support needs an even higher wage, $48.18/hour or $100,200 a year, to make a living wage.

More students were economically disadvantaged in 2022 compared to 2013 in the region. 
In 2022, 43% of students in the region were economically disadvantaged, slightly above the state rate of 42%. Sullivan County, at 58%, had the highest rate in the region, followed by Columbia at 49%, Ulster at 48% and Greene at 47%. The lowest rates were in Putnam, at 28%, and Dutchess, at 38%.

A low percentage of children are receiving subsidized child care
In 2021, 0.7% of the region’s children participated in subsidized child care, below the rate of 1.4% for the state. 

A lower percentage of the region’s population received the  Earned Income Tax Credit (EITC) than nation.
About 12% of tax filers in the region received the Earned Income Tax Credit (EITC) in 2020, similar to the state and below the nation (16%). The rates for each county, the state (excluding NYC) and nation have remained relatively unchanged since 2011.

Children Living in Poverty Increasing
Children Living in Poverty, by Race/Ethnicity Not Applicable
Single-Parent Families Increasing
Single-Parent Families, by Race/Ethnicity Not Applicable
Rate of Child Abuse and Neglect Decreasing
Rate of Foster Care Admissions Decreasing
Teen Pregnancy Decreasing
Voter Registration Rate Increasing
Voter Participation Rate Decreasing
Total Population Increasing
Population by Age Not Applicable
Population by Race/Ethnicity Not Applicable
Household Types Not Applicable
Change in Total Jobs Increasing
Foreign-Born Population Increasing
Employment by Sector Not Applicable
Spending for County Government Increasing
Tourism Revenue Increasing
Preschoolers Receiving Special Education Services Increasing
Prekindergarten Participation Decreasing
Students Receiving Special Education Services Increasing
Per-Student Spending Increasing
Student Performance on Grade 4 English, by Economic Background Not Applicable
Student Performance on Grade 4 English, by Race/Ethnicity Not Applicable
Student Performance on Grade 4 Math, by Economic Background Not Applicable
Student Performance on Grade 4 Math, by Race/Ethnicity Not Applicable
High School Cohort Graduation Rate Increasing
High School Cohort Dropout Rate Decreasing
High School GED Rate Decreasing
Education Levels of Adults Not Applicable
Education Levels of Adults, by Race/Ethnicity Not Applicable
Median Household Income Maintaining
Median Household Income, by Race/Ethnicity Not Applicable
People Living in Poverty Maintaining
People Living in Poverty, by Race/Ethnicity Not Applicable
Seniors Living in Poverty Increasing
Veterans Living in Poverty Maintaining
Children Receiving Subsidized Child Care Decreasing
Students Eligible for Free/Reduced Price Lunch Increasing
Earned Income Tax Credit Participation Decreasing
People Without Health Insurance Decreasing
Deaths from Drug Overdoses Increasing
Early Prenatal Care, by Mother's Race/Ethnicity Not Applicable
Living Wage Rate by Household Type Not Applicable
Income in Relation to Poverty Level Not Applicable
Babies with Low Birth Weights Increasing
People Living wth HIV Increasing
Mental Health Clinic Visits Decreasing
Homeownership Rates Increasing
Homeless Persons Decreasing
Cost of Homeownership Maintaining
Cost of Renting Not Applicable
Violent Crimes Decreasing
Domestic Violence Decreasing
Arrest Rates, by Race/Ethnicity Not Applicable