El Paso is not considered a rich city; its economic profile, characterized by a median household income below the national average and a significant poverty rate, indicates a community with economic challenges.
Economic Overview of El Paso
When assessing whether a city is "rich" or "poor," it's essential to look at key economic indicators such as median household income and poverty levels. For El Paso, Texas, these indicators paint a picture of a city where a substantial portion of the population faces economic hardship, and the overall affluence is lower compared to national averages.
The city has a population of 677,200 residents. The median household income is reported to be $55,700. To put this into perspective, the national median household income in the United States is generally higher, indicating that the average household in El Paso earns less than the national average.
Furthermore, a significant portion of El Paso's population lives below the federal poverty level. Approximately 18% of residents are classified as living in poverty. This figure is notably higher than the national poverty rate, which typically hovers around 10-12%.
Key Economic Indicators
| Indicator | Value |
|---|---|
| Population | 677,200 |
| Median Household Income | $55,700 |
| Residents Below Poverty | 18% |
Understanding Poverty in El Paso
The 18% poverty rate highlights that nearly one-fifth of El Paso's residents struggle to meet basic economic needs. This can impact various aspects of life within the city, from access to resources to educational opportunities and overall quality of life for a significant segment of the population.
Demographic Context
El Paso's vibrant community is largely composed of Hispanic residents, making up 82% of the population. Other significant groups include White residents (12%), Black residents (3%), and Asian residents (1%). While demographics do not directly define wealth, understanding the composition of a city's population provides broader context to its social and economic landscape.
In conclusion, based on its economic data, El Paso is not characterized as a rich city. Instead, it presents a complex economic landscape where, despite its large population, a considerable number of residents experience financial hardship, as evidenced by its median income and higher poverty rate.
