High medical expenses and the increased number of aged poor were found to be the causes of this increased rate. The unemployed, as would be expected, had the highest rate (32.9 percent) of poverty among select characteristics in New Mexico in 2019 (Exhibit 4).
Unfortunately, there are no rigorous studies that might explain why New Mexico has been and remains so poor. Poverty is a complicated problem, but one can say, in general, that people are poor because they can’t find well-paying work. There are, in general, two reasons for that: supply and demand.
Is New Mexico a poor state?
New Mexico’s poverty rate sits at 21.3 percent, just decimals behind Mississippi’s rate of 21.5 percent. Both are the only states to break above a 20 percent poverty rate. Nationally, 14.8 percent of Americans are living in poverty.
Why is poverty so high in New Mexico?
“We are investing less in our people,” Wallin said. In addition, the New Mexico tax system is another underlying cause that has contributed to the high rates of child poverty throughout the state, Wallin said. “The New Mexico tax system asks the most of those who can afford it the least.”
What is considered New Mexico’s number one problem?
ALBUQUERQUE, N.M. — The most intractable problem New Mexico faces is poverty. From low birth-weight babies to violent crime, poverty is either a cause, an effect or a complicating factor in the state’s many dysfunctions.
Is moving to New Mexico a good idea?
New Mexico is a rather affordable state to live in. It is one of few states where the cost of living index is lower than the average national one. The overall index is 4% lower than the average one and the main factors in this are the cost of food and groceries as well as healthcare and transportation.
What’s bad about New Mexico?
Ranking the worst out of all 50 states in burglary, New Mexico sees more break-ins, armed robbery, and theft than anywhere else. If that’s not bad enough, New Mexico also ranks the as the second worst in rape, third in violent crimes and property crime and thirteenth in murder.
What is the richest city in New Mexico?
Why is New Mexico the worst state to raise a family?
New Mexico remains the worst state to raise a family , according to WalletHub’s annual list. Not helping New Mexico’s case is having the highest unemployment rate in the country (6.1 percent), high child care costs, the state’s violent crime rate and the percentage of families living in poverty.
What is a living wage in New Mexico?
Living Wage Calculation for Bernalillo County, New Mexico
|1 ADULT||2 ADULTS (BOTH WORKING)|
|0 Children||3 Children|
What is poverty level in NM?
For instance, the poverty level for a family of four in 2018 is $25,100.
Is New Mexico rich?
In 2017 New Mexico’s gross domestic product was $94.2 billion. In 2017 the per capita personal income was $39,811 (ranked 48th in the nation). Economy of New Mexico .
|GDP per capita||$39,811 (based on estimated 2017 population of 2,088,070)|
|Population below poverty line||17.1%|
Is New Mexico a rich state?
NEW MEXICO RANKED TOP TEN POOREST STATES IN THE COUNTRY IN 2018. The typical New Mexico household earns $47,169 a year which is $36,073 less than the typical household in Maryland, the richest state in the country. Meanwhile, in a number of other states , most households earn at least $75,000 annually.
Is New Mexico a good place to raise a family?
ALBUQUERQUE, N.M. – A new study says New Mexico is the worst place to raise a family in the country. Not everyone is happy about this. It’s a good day to hang out with the kids for Kelly Lackey. The study looked at data in several areas to give New Mexico the title.
How much money do you need to live comfortably in New Mexico?
50 percent for necessities: $21,222. 30 percent for discretionary spending: $12,734. 20 percent for savings: $8,489. Income needed to live comfortably: $42,445 (down $1,450 from 2016)
Is it cheaper to live in Arizona or New Mexico?
One major difference is the population! Az has about 6.9 million vs NM at about 2 million. Therefor cost of living is much cheaper in NM . New Mexico has higher altitudes in its big cities.
What are the pros and cons of living in New Mexico?
Pros and Cons of Living in New Mexico Cost of education: School is affordable. Period. Natural beauty: The landscape in New Mexico is breathtaking. Many people say it’s unlike anything else in the U.S. History and culture: This state’s full of it.