Tuscaloosa Has One of Nation’s Fastest Falling Poverty Rates
It's impossible to travel anywhere around Tuscaloosa and not notice some type of construction or new development. Despite economic struggles across the country, this city has been able to buck a national trend.
According to an analysis by SmartAsset, Tuscaloosa has one of the nation's fastest falling poverty rates over the past 10 years. Even with the population growing by nearly 40,000 people during that time, the total number of people below the poverty actually decreased.
Overall, the poverty rate declined from 24.3% in 2005 to 19.0% in 2014. That number remains above the national average, but this is why SmartAsset ranked Tuscaloosa 9th in the nation for decreasing poverty rates:
Tuscaloosa is home to the University of Alabama which, with a student body of over 37,000, is a key driver of the region’s economy. The manufacturing industry is also important, as the area is home to a Mercedes Benz assembly plant and factories for a number of other major employers.
The metro area’s population grew from 189,000 in 2005 to about 236,000 today. Nonetheless, the number of people living below the poverty line in the Tuscaloosa area has fallen over the past decade by more than 3,000.
The only other city in Alabama to make the top 25 was Decatur, which saw a 2.4% decrease in the number of people below the poverty line.