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Median incomes in state not keeping pace with inflation, DiNapoli says

Despite median household incomes increasing in every county from 2019 to 2024, 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. “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 (“real”) median household income increased by $1,688, or 2%, from 2019 to 2024. 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%).

In Chautauqua County, the median household income increased from $57,622 to $58,351 — up 1.3%.

DiNapoli’s analysis also found:

— Among the five counties that comprise New York City, results were mixed. The real median household income increased in Brooklyn by $6,136 (8.3%) and in Queens by $1,628 (1.9%). It decreased in Staten Island by $3,549 (-3.5%), in Manhattan by $2,590 (-2.4%), and in the Bronx by $661 (-1.3%) between 2019 and 2024.

— Other counties that saw a positive percentage change in real household incomes of over 5% included Fulton, Montgomery, Allegany, Suffolk, Schuyler and Franklin.

— Three of the 10 largest percentage decreases in real household incomes were found in the Southern Tier, including Broome (-2.6%).

— Every Western New York county had a positive percentage increase in real household income with the exception of Cattaraugus (-0.7%).

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