Real median income decreased 1.5% in 2011 to $50,054, down from $50,831 in 2010. The 2011 real median household income was 8.1 percent lower than in 2007, the year before the most recent recession, and was 8.9 percent lower than the median household income peak that occurred in 1999.
Meanwhile, 46.2 million people were in poverty in 2011, a 15% poverty rate. Though down slightly from 15.1% in 2010, the poverty rate remains high.
Meanwhile, 46.2 million people were in poverty in 2011, a 15% poverty rate. Though down slightly from 15.1% in 2010, the poverty rate remains high.
About the Author
Shawn Kaplan is an active, 50 state Licensed loan officer with Access National Mortgage. Email Shawn at skaplan@accessnational.com or call 615-426-3182.
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