Despite median household incomes increasing in every county from 2019-24, they did not keep pace with the cost of living when adjusting for the 23.1% inflation during that time period, according to a report by State Comptroller Thomas P. DiNapoli.
“Household incomes for too many New Yorkers have not kept pace with the stubborn inflation we continue to feel today,” DiNapoli said in a press release. “When real incomes decline, people struggle to maintain the same quality of life.
“Continued focus on addressing the state’s affordability challenges, as well as efforts to increase the growth of well-paying jobs across the state, are needed to ensure that all residents have the opportunity to thrive.”
Statewide, the inflation adjusted median household income increased by $1,688, or 2%, from 2019-24. However, in 23 of the state’s 62 counties, real median household income decreased.
Tioga County had the largest decrease, both by dollar amount (-$4,794) and percentage (-6.2%). Rockland County had the second largest decrease by dollar amount (-$4,526) while Chemung County had the second largest decrease by percent (-5.8%).
Greene and Ulster counties had the largest gains in real median household income with Greene County increasing the most both by dollar amount ($11,978) and by percent (18.2%). Ulster County had a $7,132 increase (9%).
Franklin was among counties that saw a positive percentage change in real household incomes of over 5%, along with Fulton, Montgomery, Allegany, Suffolk and Schuyler counties.