4. Albany, Ga. Median household income
: $32,775 Population
: 161,617 (122nd lowest) Unemployment rate
: 10.4% (77th highest) Pct. households below poverty line
: 28.4% (7th highest)
A stunning 11.8% of households in Albany earned less than $10,000 in 2011, the largest percentage of any metropolitan area in the nation. Additionally, 28.4% of Albany residents lived below the poverty level, a considerable increase from the 21.5% who lived in poverty in 2007. The area’s unemployment also jumped, doubling between 2007, when it was just 5.2% of the labor force, to 2011, when it was 10.4%. Last year, the median home value in Albany was just $103,800, or nearly $70,000 less than the U.S. median, while 18.9% of homes were worth less than $50,000.
(AP Photo, Elliott Minor) More From 24/7 Wall St.
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