Some interesting reporting in the Post-Dispatch this morning. Not sure if the Census thread is the correct thread, but I figured it would fit here.
St. Louis still getting smaller, but richer, too
https://www.stltoday.com/news/local/met ... -top-story
Some highlights:
St. Louis still getting smaller, but richer, too
https://www.stltoday.com/news/local/met ... -top-story
Some highlights:
While the city of St. Louis continues to lose population, the people who are here are making more money. The share of city residents making $100,000 or more increased to 18% from 12% five years ago, according to the most recent census estimates released Thursday. At the same time, city residents making $25,000 or less now account for just 30% of the population, compared to 38% five years ago. Travis Sheridan, president of Venture Cafe Global Institute, said he thinks the salaries of medical professionals provide a strong foundation for income in St. Louis, "and then the growth might be associated with tech." Sheridan lives in Old North St. Louis and runs the institute out of offices in the Cortex district.
The Census Bureau's release covers income, poverty and health insurance coverage. The median household income in St. Louis was $43,889, up $2,448 (or 6%) from $41,441 the year before. The numbers are not adjusted for inflation. Nationwide, median income is up by $1,600 year over year, while the poverty rate and percentage of Americans not covered by health insurance remained flat. St. Louis is attracting young professionals in tech because of its affordability, said Ness Sandoval, an associate professor of sociology at St. Louis University.
Sandoval tracks migration trends in and out of the city and St. Louis area. He said both have seen a net gain in white residents, and a loss of black residents since the 2014 shooting of Michael Brown Jr. in Ferguson. "Where we show white residents coming to the city, it's people from the East and West coast wanting to make the city itself their home," Sandoval said. "I think it's because it's a younger population, so those cities are just not as affordable compared to St. Louis." He mentioned Boston, New York, Washington, San Francisco and Denver as examples of cities where the cost of living can be too high for young professionals.
Don Roe, executive director of Planning and Urban Design for St. Louis, said the city is getting younger, which could be the cause for its changing income levels.
Low-income residents are also finding new ways to make more money, with the growth of the gig economy. "I've been in neighborhood meetings where folks were talking about how they were supplementing their income with the gig economy, and those meetings were in a very poor census tract," Roe said. In addition, Sheridan said, local programs are helping low-income populations make more money. "Some of that might be skill development and growth, with training programs going into place," Sheridan said. As people gain skills, chances are better they'll find a higher-paying job. Roe believes St. Louis is the place for young professionals in the Midwest, and developers are ready to tap into the market.


