Minnesota Town Named The 'Poorest' In The Entire State

Inflation rates impact communities differently depending on population, median household income, and housing market prices. Communities where residents' income is far below the rising costs of goods, services, and property often receive government assistance to afford necessities.

24/7 Wall St. put together a list that draws attention to communities where many locals rely on financial assistance to purchase everyday items, leading them to use the term "poor" in reference to a statistical lack of finances among the general population. Per the list, Aurora was named the poorest town in Minnesota with a population of 1,709 people. Residents of Aurora make a median household income of $32,287 compared to the state's annual median household income of $77,706. 28.4% of Aurora households are receiving government aid.

Here's what 24/7 Wall St. had to say about compiling the data to discover the poorest communities across the country:

"Using five-year estimates from the U.S. Census Bureau’s 2021 American Community Survey, 24/7 Wall St. identified the poorest town in each state. We considered any city, town, or unincorporated community with populations between 1,000 and 25,000 people, and ranked them by median household income. Among the places on this list, the typical household earns anywhere from $43,800 to just $9,100 annually. For reference, most American households earn over $69,000 a year. With such low incomes, the residents of these places are more likely to depend on government assistance to afford basic necessities."

For a continued list of the poorest towns nationwide, visit 247wallst.com.