24/7 Wall St Ranks Fall River, MA the 5th Worst City in America
Wednesday, June 29, 2016
If you are living in Fall River, MA the news is not good. The business website 24/7 Wall St ranks Fall River as the fifth worst city to live in America.
The worst city in America is Miami -- a great place to visit, but a terrible place to live.
"No city in the United States is worse to live in than Miami. The city’s median home value of $245,000 is well above the national median of $181,200. However, with a median household income of only $31,917 a year, well below the national median of $53,657, most of these homes are either out of reach or a financial burden on most Miami residents," according to the rankings.
Here is what 24/7 Wall St said about Fall River:
> Population: 88,705
> Median home value: $230,600
> Poverty rate: 22.8%
> Pct. with at least a bachelor’s degree: 13.1%
The median household income in fall river is only $35,037, just roughly half the income a typical Massachusetts household earns and about $18,500 less than the income the typical American household earns. Placing further pressure on residents wallets, a single dollar also has less purchasing power in the city as goods and services are roughly 19% more expensive in the city than they are across the country as a whole. In Fall River, 22.8% of people live below the poverty line, a considerably larger share than the 15.5% of impoverished Americans.
Read more: 50 Worst Cities to Live In - 24/7 Wall St.
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