Recent analyses, including a comprehensive study by 24/7 Wall St. using U.S. Census Bureau data, have identified Versailles as the poorest town in Missouri. Versailles, a small community in central Missouri with a population of approximately 2,500, stands out due to its notably low economic indicators compared to state averages.
Key Economic Statistics
- Median Household Income: Versailles’ median household income is just $22,786, a stark contrast to Missouri’s state average of $61,043.
- Median Home Value: The median home value in Versailles is $87,700, significantly below the state average of $171,800.
- Poverty and Assistance: About 26.7% of households in Versailles receive SNAP benefits, highlighting the extent of economic hardship in the community.
How Was This Determined?
The ranking was based on several factors:
- Median household income
- Poverty rate
- Percentage of adults with a bachelor’s degree or higher
- Median home value
- Population size (between 1,000 and 25,000 residents)
These metrics were drawn from the U.S. Census Bureau’s 2021 American Community Survey and synthesized by 24/7 Wall St. to provide a picture of economic well-being across Missouri’s towns.
Other Notably Impoverished Towns
While Versailles tops the list, other Missouri towns also face high poverty rates. For example, Van Buren has a poverty rate of 41.9%, and Poplar Bluff has 33.4% of its population living below the poverty line. However, Versailles is singled out as the poorest when considering median household income and related economic factors.
Versailles is currently recognized as the poorest town in Missouri, with a median household income far below the state average and a significant portion of its residents relying on government assistance. These figures reflect ongoing economic challenges for many small towns across the state.
Sources:
- https://khmoradio.com/what-is-missouris-poorest-town-nearly-half-live-in-poverty/
- https://stacker.com/stories/missouri/cities-missouri-most-living-poverty
- https://937thebull.iheart.com/content/2023-11-14-missouri-town-named-the-poorest-in-the-state/
- https://en.wikipedia.org/wiki/List_of_Missouri_locations_by_per_capita_income