Iowa is an amazing state with a lot of history and culture. But not every town and county in the country is doing as well as others. The poorest town in Iowa, according to a recent study by the financial news website 24/7 Wall St., is Fayette, a small town with about 1,300 people in Fayette County.
How Did You Determine the Cheapest Town?
24/7 Wall St. used information from the American Community Survey of the U.S. Census Bureau for the years 2017 through 2019 in their study.
The website puts each town in each state in order by its median household income. The median household income is the town’s middle-income level. The website looked at other things too, like the rate of poverty, unemployment, schooling, and health insurance coverage.
The median family income in Fayette was $32,500, which was less than half of the median income in the state, which was $68,718. That’s more than twice as many people in Fayette as in the whole state, at 29.4%.
Statewide, the jobless rate was 3.1%, but in Fayette County, it was 6.1%. Only 16.9% of people in Fayette County had a bachelor’s degree or higher, while 30.5% of people in the state did. Also, 8.8% of Fayette locals did not have health insurance, while only 4.7% of state residents did not.
What Are Potential Risks and Difficulties for the Poorest Town?
High poverty, low income, few job chances, and bad health are just some of the problems that Fayette has to deal with. The town is in the country, which doesn’t always have the same services, facilities, and infrastructure as cities.
Upper Iowa University is in the town. It is a private school with about 4,000 students, many of whom come from out of state or online. The university employs and pays the most people in the town, but it also makes the population of the town and the school different.
But Fayette is not a town that has no hope or chance. The town has a long history that goes back to the 1800s when it was an important hub for the cotton and railroad industries. The Volga River State Recreation Area, the Fayette Opera House, and the Fayette County Courthouse are just a few of the town’s famous buildings and historic sites.
There is also a lively community in the town, with events, fairs, and activities happening all year long. The town is trying to bring new companies to its center area and make life better for everyone.
Conclusion
Based on its poverty rate, jobless rate, level of schooling, and number of people with health insurance, Fayette is the poorest town in Iowa. The information shows the major problems and factors that affect the town’s economy. It also shows the town’s chances and strengths.
The numbers also show the difference between the town’s numbers and the state’s standards. People and officials can use this information to learn more about Fayette and other Iowa places like it, including their problems and their potential.