There was an article published recently that $72,000 is now considered “low income” where I live (King County) for a family of four. Compare that to last year, when the low-income limit was $69,300.
Those are some surprisingly high numbers, especially when the median household income in U.S. was only $56,516 (according to 2015 data from the U.S. Census Bureau).
But median income in Seattle has been rising at a rate faster than any other major U.S. city. The current median household income in King and Snohomish counties is $96,000. Part of the reason is due to creation of a lot of high-paying new jobs by tech companies. The other not-nicer-part is low income people are being pushed out due to higher living costs.
Since the number stated is the median income, it means half of the households in King County earn higher, half earn lower. Not everyone is benefiting from the massively increased income, and people who are falling in the lower half may be finding it hard to make ends meet.(Read More...)