Colorado Poverty Rate Down, Median Income Up
DENVER (AP) — Colorado's poverty rate dropped slightly last year and median income rose, according to annual poverty figures released Thursday by the Census Bureau.
Median household income in Colorado rose 2.4 percent in 2013, to $58,823.
Just five states — Alaska, Kentucky, Montana, Utah and Wyoming — saw bigger increases in median household income between 2012 and 2013.
The poverty rate dropped 0.7 percent statewide, to 13 percent. In metro Denver, the poverty rate dropped 0.6 percent, to 12.1 percent.
Nationwide, the poverty rate remained steady for the second year running, at 15.8 percent.
Census data also showed that the number of children under 18 in poverty declined from the previous year for the first time since 2000.
The official poverty level is based on a government calculation that includes only income before tax deductions. It excludes capital gains or accumulated wealth, such as home ownership. As a result, the rate takes into account the effects of some government benefits, such as unemployment compensation. It does not factor in noncash government aid such as tax credits and food stamps.
A family of four is considered to be living in poverty if it brings in less than $23,830 in a year. A person is considered to be living in poverty if he or she makes less than $11,890.
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