Richmond's shrinking poverty rate
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The share of metro Richmond residents living in poverty last year was the lowest it's been in over a decade, recent census data shows.
Why it matters: The poverty rate has been declining locally and statewide over the years as wages have increased, particularly for low-income workers.
By the numbers: The poverty rate in the Richmond metro area dropped to 9.9% in 2023, compared to 10.7% in 2022, according to new data released by the American Community Survey (ACS).
- The poverty rate was 11.9% a decade earlier.
Yes, but: Richmond city's poverty rate was 17.1% last year, significantly higher than that of the whole metro region, but down from 21.7% in 2022.
The big picture: The poverty rates in 22 of the 25 most populous metropolitan areas did not change significantly from 2022 to 2023, according to the ACS.
- The Washington, D.C. and Minneapolis metros had among the lowest poverty rates at about 8%. Houston, Detroit and San Antonio were among the highest at about 14%.
Zoom out: Most states did not see a significant change in poverty rates last year, including Virginia which stands at 10.2% — but it was down from 11.7% in 2012.
- New Hampshire had the lowest poverty rate at 7.2%, while Louisiana had the highest at 18.9%.
- Nationally in 2023, the poverty rate was 11.1%.
How it works: The ACS uses an income threshold to determine whether a household is below poverty level.
- The threshold is adjusted for inflation and changes depending on household size and number of children.
- The Census Bureau considered someone below the poverty line in December 2023 if they made less than about $15,800 as an individual, or under about $31,000 as a family with two adults and two children.