Growing number of central Iowans can't afford emergency expenses
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A new local report analyzing Polk, Dallas and Warren counties shows that 36% of 3,000 surveyed residents could not afford to cover a $400 emergency expense without going into debt.
Why it matters: That's a 10% increase since this survey was last released in 2021, another sign of the growing financial struggles in our region.
Driving the news: A committee of central Iowa health organizations released the report Tuesday showing the biggest health needs in the tri-county area.
- Nearly 3,000 people were surveyed this year through random sampling and online community outreach. Respondents answered through phone interviews and online responses.
By the numbers: Financial instability, which the report classifies as not being able to afford the $400 emergency expense, is worse in Polk County at 40%, followed by Warren (26%) and Dallas (17%) counties.
- In comparison, 34% of people nationwide are financially unstable.
- This affects multiple income brackets, as 23% of mid- to high-level-income Iowa households surveyed also said they would go into debt.
Zoom in: The group has hypothesized several reasons for the 10% jump since 2021, including the rollback of some pandemic-era benefits, child tax credits and rising housing and food prices.
Between the lines: The problem also isn't isolated to just bank account issues, UnityPoint community health project manager Chris McCarthy tells Axios.
- Financial instability influences social determinants and those are more important to our health than even genetics, McCarthy says. It becomes a larger community issue if workers can't afford to make it to their jobs or help their kids through school.
What's next: The group has created a regional plan to address the health issues outlined in the report, including increasing the enrollment of eligible Iowans into public benefit programs and investing in more pilot strategies to reduce poverty.