Newark is a city in New Jersey state in USA with a population of 281917 residents..
The poverty rate of Newark is 26.3%, which is 88% higher than national average.
The typical household in Newark earns $37476 a year, compared to the national median of $67,500.
Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 7 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 60.3% of households earn less than $50,000 a year compared to 39% national rate.
With a lack of available jobs, many in Newark are struggling financially. Nearly one in every 1 in every 9 workers in Newark is unemployed.
The unemployment rate of Newark remained 10.6%, which is 126% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census.
Cost of living in Newark is 112, which is 12% higher than national average.
In Newark, only 15% of adults have a bachelor's degree and 24% have some college but no degree.
Median home value in Newark is $254900 , which is 11% higher than national average.
While median income in Newark remained $37476, which is 44% lower than national average.