Raleigh's poverty rate continues its downward trend
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The percentage of people in the Raleigh metro living below the poverty line reached its lowest point in over a decade last year, census data released this month shows.
Why it matters: The measure is a positive sign for residents, but it may not be translating to positive feelings about the economy here — an issue that's likely to be a major factor when voters cast their ballots in this year's election.
The big picture: That trend aligns with the statewide decline in North Carolinians living below the poverty line in the last decade or so, though Raleigh's poverty rate remains below the state's.
- That decrease comes as wages have grown — even during the pandemic — and the cost of living here has remained relatively low.
Reality check: Some 38% of North Carolina adults are in households that found it somewhat or very difficult to pay for typical expenses, per a U.S. Census Bureau's Household Pulse Survey conducted this summer, as consumers across the country feel the squeeze of high prices.
- Plus: The child poverty rate increased slightly to around 17.6% in 2023 in North Carolina, up from 17.2% in 2022.
How it works: The national poverty line in 2023 was $15,800 for an individual, or under about $31,000 for a family with two adults and two children.