Passaic is a city in New Jersey state in USA with a population of 69789 residents..
The poverty rate of Passaic is 27.1%, which is 94% higher than national average.
The typical household in Passaic earns $44779 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 13 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 54.3% of households earn less than $50,000 a year compared to 39% national rate.
With a lack of available jobs, many in Passaic are struggling financially. Nearly one in every 1 in every 10 workers in Passaic is unemployed.
The unemployment rate of Passaic remained 10.1%, which is 115% higher than national rate. Nearly 2 times comparable to 4.7% national rate, according to the Census.
Cost of living in Passaic is 122, which is 22% higher than national average.
In Passaic, only 16% of adults have a bachelor's degree and 16% have some college but no degree.
Median home value in Passaic is $348000 , which is 51% higher than national average.
While median income in Passaic remained $44779, which is 34% lower than national average.