Petersburg is a city in Virginia state in USA with a population of 30791 residents.. The poverty rate of Petersburg is 22.6%, which is 61% higher than national average. The typical household in Petersburg earns $43029 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 9 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 60.1% of households earn less than $50,000 a year compared to 39% national rate. With a lack of available jobs, many in Petersburg are struggling financially. Nearly one in every 1 in every 8 workers in Petersburg 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 Petersburg, only 84% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Petersburg remained 12.6%, which is 168% higher than national rate. Nearly 3 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 Petersburg, only 21% of adults have a bachelor's degree and 28% have some college but no degree.

Cost of living in Petersburg is 92, which is 8% lower than national average. Median home value in Petersburg is $111800 , which is 51% lower than national average. While median income in Petersburg remained $43029, which is 36% lower than national average.