The 10 Poorest States in the U.S.

Page 1 of 11

Curious what the poorest states in the U.S. are? They say “the higher you climb the harder you fall.” While speaking about countries, we can relate this saying to the idea that the better the financial situation is in a country, the worse it gets after an economic recession. As an example we can look at the United States of America, which got hit pretty hard by the recent financial crisis. And even though the economy seems to be recovering, there is still a lot of ground left to cover.

Public Domain Image: Public Domain

America was always been considered a land of opportunity. People, especially from poorer countries, are thinking every day about leaving their homes in the pursuit of happiness in the U.S.. While America is still the country with the largest number of people who have over seven-digits sums in their accounts, in comparison with those who are struggling everyday to make ends meet, this number is extremely small.

A recent report by the Corporation for Enterprise Development (CFED) shows us that almost half of the American families (over 130 million people) don’t have enough finances saved to survive for three months in case of some income-related troubles (like unemployment). CFED attributes the term of “liquid asset poor” to this category of households. Among these people are included over 42 million of those whose income stays below the official poverty line, which is $23,050 for a family of four members. Another category of households, invoked by CFED in its “Assets & Opportunities Scorecard,” is “net worth asset poor,” which includes families whose high debt surpasses the value of their belongings (house, cars, savings).

The “Assets & Opportunities Scorecard” analyzes all 50 U.S. states and the District of Columbia and evaluates over 100 measures in order to provide an outlook on the financial security of people living in the U.S.

Aside from the aforementioned measures, the report indicates that Americans are not doing so well on many other benchmarks. While homeownership and ownership of small businesses is experiencing a downfall, the increasing volume of debt taken to support families’ budgets together with a high percentage of foreclosures  are ruling the day.

To sum up, America is not doing great, and if we take it state by state, we can see a more disastrous situation in some states than in the others. The low income and high amounts of debt, aside from making households incapable of purchasing some assets, affects other aspects of their lives like healthcare or education.

Let’s take a look at the 10 poorest states in the U.S. on the following pages, in a style similar to our list of the worst job markets in the world:

Page 1 of 11
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!