Median household income in Maryland grew last year – Baltimore Sun
By Sarah Gantz, Baltimore Sun
Despite the nation’s highest median household income and among its lowest poverty rates last year, economists warned that new data from the Census Bureau continues to show a worrying economic divide in Maryland.
Maryland’s median household income reached $75,847 in Maryland last year, up 2.4 percent from 2014. At the same time, the state’s poverty rate declined statewide to 9.7 percent, with about 570,776 people living in poverty, according to results from the Census Bureau’s’ American Community Survey released Thursday.
The survey, conducted annually, shows that Maryland’s economy is growing, more people are working and their wages are rising, economists said.
But they also cautioned Thursday that beneath the encouraging numbers, many Marylanders continue to struggle to make ends meet as the state falls short of its growth potential. The state’s income growth also lagged behind the nation’s as the survey found median household income grew 3.8 percent nationwide to $55,775.
“This year’s figures show a little improvement in the middle class, but there’s still a lot of people stuck at the bottom, working very hard to pay the bills and unable to achieve financial stability for their families,” said Benjamin Orr, executive director of the Maryland Center on Economic Policy.
