Poverty Study Key Findings: Income Insufficiency
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Table 1: Sources for Expense Estimates
- Forsyth Futures used the sources shown in Table 1 to estimate the basic living expenses of Forsyth County residents.
- These estimates represent the lowest cost of living that can be generally assumed for each family type based on the information available and are designed to identify jobs / income levels that could reasonably support different kinds of families.
- Expenses for some families may be lower due to individual circumstances - for example, extended family who can provide childcare- but these kinds of situations cannot be assumed for the general population.
Table 2: Estimated Expenses and Components of Estimated Expenses for Example Households in Forsyth County, 2014
- As Table 2 demonstrates, estimated expenses are consistently higher than the federal poverty threshold.
- Compared to families with no children, families with two preschoolers in need of full time child care, one of the most expensive childcare arrangements, are estimated to have about $30,000 more in expenses, mostly from child care and associated taxes
- While child care expenses are greatest for children not attending school, school-aged children may still need after-school care as well.
Figure 1: Income Insufficiency by Geography, 2014
- Figure 1 shows that rates of income insufficiency in Forsyth County are roughly double the census poverty rate of 20%.
- Rates of income insufficiency in Forsyth County were not significantly different than those of most peer communities.
*Bars of a lighter color indicate no statistical difference compared to Forsyth County.