Summit is a city in Arizona state in USA with a population of 5066 residents.. The poverty rate of Summit is 22.7%, which is 62% higher than national average. The typical household in Summit earns $38871 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 31 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 69% of households earn less than $50,000 a year compared to 39% national rate. With a lack of available jobs, many in Summit are struggling financially. Nearly one in every 1 in every 4 workers in Summit is unemployed. The high jobless rate has likely contributed to the widespread poverty in the city.

A high school education is a basic prerequisite for most jobs, and in Summit, only 54% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Summit remained 27.1%, which is 477% higher than national rate. Nearly 6 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Summit, only 2% of adults have a bachelor's degree and 26% have some college but no degree.

Cost of living in Summit is 83, which is 17% lower than national average. Median home value in Summit is $83400 , which is 64% lower than national average. While median income in Summit remained $38871, which is 42% lower than national average.