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

4. New Mexico

Gini coefficient: 0.4821
Median household income: $41,963 (8th lowest)
Households earning $200,000+: 3.4% (tied for 15th lowest)
Population living below poverty line: 21.5% (2nd highest)

Between 2010 and 2011, New Mexico’s Gini coefficient rose from 0.464 — then 15th in the nation — to 0.482, one of the highest in the country. During this time, many New Mexicans brought home less money, as median income fell from $43,326 in 2010 to $41,963 in 2011. Also, 7.2% of the state’s households earned less than $10,000 last year — one of the highest rates in the nation. Poverty is a long-running problem in New Mexico. The percentage of households living below the poverty line rose from 18.1% in 2010 to 21.5% last year — the second-highest poverty rate in the nation. Despite the state’s high poverty rate, one of its three congressman, Steve Pearce, received a “D-” from the Institute for Policy Studies on promoting income equality.

(iStock)

More From 24/7 Wall St.:
States with the Highest (and Lowest) Taxes
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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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