Fresno came in dead last among nation’s major metro areas in this income study

Fresno-area residents earn the least alternative income, or income outside working wages and salaries, in the nation, according to a new study.

Self Financial looked at data from the U.S. Census Bureau to determine the percentage of people making money from these alternative sources in a given area, and then calculated and ranked their median household income.

According to the study, 59.7% of Fresno households earn money from alternative sources like Social Security, stock dividends, self-employment or public assistance. That’s on par with the nation.

But of those, the median income is $16,500 annually.

That ranks last among the nation’s largest metro areas (those with more than 1 million people). For context, the Phoenix-Mesa-Scottsdale area of Arizona ranked first with 56.4% of its population earning alternative income at a median rate of $24,400, annually.

The Sacramento area ranked No. 2 among large metros. Just over 60% of households there received alternative income, according to the study, with an annual median of $24,300.

Nationally, the number is 60% of households and $20,900 annually.

This matters because government-administered incomes like Social Security and SSI or public assistance programs are not adjusted month-to-month and annual adjustments tend to fall short of the rate of inflation, which is currently the highest it’s been in 40 years.

Other kinds of retirement income, 401k or interest or dividend payments, for example, will yield less return when the market is underperforming. And all of this “can have adverse effects for people who rely on them to meet basic needs,” the study says.

The full study, with a searchable list of city rankings, can be seen online at Self.inc.

This story was originally published July 8, 2022 at 5:00 AM.