The Minneapolis Federal Reserve Bank has issued a recent study on poverty which Chris Galler of the Minnesota Association of Realtors has nicely summarized. The study shows Minnesota having a very low poverty rate (8.1%) compared to other states. The national poverty figure is 12.6%. Poverty measures have only been done since 1959, but today's figures make Minnesota look like a pretty good place to live.
Minnesota's 8.1% poverty rate places our state fourth lowest in the nation compared to Mississippi's highest poverty level of 20.1%. The other midwestern states of Wisconsin, North Dakota, South Dakota and Iowa are at 10.2, 11.2, 11.8, and 11.3 respectively. Louisiana and New Mexico follow Mississippi at 18.3% and 17.9%. The absolute highest level of poverty in the nation is the District of Columbia at 21.3%. (I wonder if the dignitaries who visit our White House and legislative offices notice the impoverished people as they tour our capitol. I know I did!).
The two most important factors which impact the level of poverty include education and household formation, followed by location, rural vs. urban (rural is poorer), age (18-24 are poorest), birth place (foreign born are more likely to be living in poverty), and working status (part-time workers are less well off).
Statistics like these are probably why so many consider Minnesota to be the land of opportunity. Regardless of whether you're looking for opportunity or not, Minnesota is a nice place to live!
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