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24/7 Wall St.: States with the Widest Gap Between the Rich and Poor

5. California

Gini coefficient: 0.4812
Median household income: $57,287 (10th highest)
Households earning $200,000+: 7.8% (7th highest)
Population living below poverty line: 16.6% (18th highest)

Nearly 8% of households in California earned at least $200,000 in 2011, more than all states but six. But while California has its sliver of Hollywood bigwigs and self-made billionaires striking it rich in Silicon Valley, the state also has a fair share of residents on the lower-end of the income spectrum. The state’s 16.6% poverty rate was higher than the national poverty rate of 15.9%. Despite this, California in some regards did better than its peers. For instance, the 8.3% of Californians on food stamps in 2011 was a lower percentage than all but four states. Furthermore, the 4.7% of households earning less than $10,000 in 2011, while far from being the lowest percentage among all states, was better than the 5.1% across the country.

(iStock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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