Williamson, West Virginia has been named the poorest town in the state, according to a 2023 report by 24/7 Wall St. The town has a median household income of just $18,640, which is 63.4% less than the statewide median. A staggering 41.7% of Williamson residents live in poverty, which is more than twice the state average.
There are a number of factors that have contributed to Williamson’s economic decline. The town was once a major coal mining center, but the industry has been in decline for decades. As a result, many Williamson residents have lost their jobs and homes. The town also has a high rate of unemployment and poverty.
These statistics paint a stark picture of economic hardship faced by many residents of West Virginia.
|Median household income||$18,640|
Factors Contributing To Williamson’s Poverty
The decline of the coal mining industry has been the biggest blow to Williamson’s economy. In the 1950s, Williamson was a thriving coal town with a population of over 7,000 people. But as the coal industry declined, so too did Williamson’s population. Today, the town has just over 2,000 residents.
The high unemployment rate and low median household income are also major factors in Williamson’s poverty. In 2022, Williamson’s unemployment rate was 12.5%, which is more than twice the state average. The town’s median household income of $18,640 is also well below the state median of $49,484.
Social And Cultural Impacts
Williamson’s poverty has had a number of social and cultural impacts on the community. High rates of crime and drug abuse are major problems in the town. Williamson also has a lack of access to quality healthcare and education.
Many young people are leaving Williamson in search of better opportunities. This brain drain is further exacerbating the town’s economic problems.
Despite its economic and social challenges, Williamson is a resilient community. The town is home to a number of small businesses and non-profit organizations that are working to improve the lives of residents.
For example, the Williamson Community Development Corporation is a non-profit organization that is working to revitalize the town’s economy. The organization has helped to create a number of new jobs and has attracted new businesses to the town.
Williamson is also home to a rich cultural heritage. The town is known for its music, art, and food. Williamson is also home to a number of festivals and events throughout the year.
FAQs About Williamson, West Virginia
Q: Why is Williamson, West Virginia so poor?
A: There are a number of factors that have contributed to Williamson’s poverty, including the decline of the coal mining industry, the high unemployment rate, and the high poverty rate.
Q: What is the median household income in Williamson, West Virginia?
A: The median household income in Williamson, West Virginia is $18,640. This is 63.4% less than the statewide median income of $31,030.
Q: What is the poverty rate in Williamson, West Virginia?
A: The poverty rate in Williamson, West Virginia is 41.7%. This is more than twice the statewide poverty rate of 18.6%.
Q: What is the unemployment rate in Williamson, West Virginia?
A: The unemployment rate in Williamson, West Virginia is 10.3%. This is more than twice the statewide unemployment rate of 4.7%.
Q: Is there anything hopeful about the future of Williamson, West Virginia?
A: Yes, there is hope for the future of Williamson, West Virginia. The town has a number of assets, such as its rich cultural heritage and its proximity to natural resources. The town is also working to address its poverty problem through a number of initiatives.