Americans living in “distressed” zip codes — which are increasingly rural — are struggling to find stability.
And their path to progress poses a “catch-22” situation, according to a researcher from the Economic Innovation Group .
Distress was defined through seven metrics: educational attainment, housing vacancy, unemployment levels, poverty rate, median income, the change in number of jobs, and in business establishments. Parts of rural America are ‘projected to never fully recover’Story continuesWhile 97% of America’s land mass is rural, only around 20% of the population resides in those areas, according to the U.S. Census. The data also showed that around 65% of the total rural population lives east of the Mississippi River, and nearly half of the people living in rural areas are in the South.
But the big boom that followed the Great Recession period has disproportionately affected areas with white-collar workers, with the number of jobs surging in “prosperous” areas, as seen in the chart below: “The population differential between prosperous and distressed communities was almost entirely accounted for by the clustering of college-educated Americans in well-off zip codes,” the report stated. “Prosperous zip codes contained… 27.7 million adults with a bachelor’s degree or higher, almost six times the 4.8 million that lived in distressed zip codes.”
In Bakersfield, the median debt held by a graduate was $15,150, while the median income was $60,862 according to an analysis by WalletHub. That means that upon graduation, student debt represented nearly a quarter of the college graduate’s income.
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