Median household incomes in New York state are not keeping up with inflation, according to a new report released Friday by state Comptroller Tom DiNapoli’s office.
The report said median incomes rose in every county between 2019 and 2024, but not at the 23.1% inflation over the same period.
According to the comptroller, incomes adjusted for inflation rose 2%, or $1,688, in that five-year window. However, in half of the state’s counties, the inflation-adjusted income decreased. The county with the largest decrease by percentage and dollar amount was Tioga County, down $4,794 or 6.2%. Rockland County had the second-largest dollar amount decrease, down $4,526, and Chemung County had the second-largest percentage decrease, of 5.8%.
The counties that saw the largest inflation-adjusted income gains were Greene County, up $11,978, and Ulster County, up $7,132.
In New York City, the report said inflation-adjusted household incomes went up in Brooklyn and Queens while decreasing in Staten Island, Manhattan and the Bronx.
“Household incomes for too many New Yorkers have not kept pace with the stubborn inflation we continue to feel today,” DiNapoli said in a statement. “When real incomes decline, people struggle to maintain the same quality of life. Continued focus on addressing the state’s affordability challenges, as well as efforts to increase the growth of well-paying jobs across the state, are needed to ensure that all residents have the opportunity to thrive.”