Poverty Rate In New York City Falls To Historic Low In New Census

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Poverty Rate In New York City Falls To Historic Low In New Census
Poverty rate across the board dropped in the city for the fourth year in a row.
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The Census Bureau recently released its annual American Community Survey, which looks at cities' data and helps determine how federal and state funds are distributed. And the most recent release shows New York City's poverty rate is the lowest it's been in at least a decade.

According to the survey, the city’s poverty rate dropped to 17.3 percent in 2018, marking the lowest rate it has been since the survey began in 2006. And statistics from the Federal Reserve Bank of New York show that 2018's mark is similar to the poverty rate in the mid-70's.

The survey also noted the child poverty rate for New York City fell from 29.8 percent in 2013 to 23.8 percent in 2018. In addition, the city experienced a 13 percent growth in median household income between 2013 and 2018.

In a press release, New York City Mayor Bill de Blasio attributed much of this drop to fighting for $15 minimum wage in the city and efforts to provide families with pre-kindergarten services.

According to the survey, this marks the fourth year that the percentage of people in poverty decreased in the largest metropolitan areas in the country.