Rising Concerns Over Cost of Living Among Americans, New Poll Reveals
A recent Yahoo Finance/Marist poll of 2,575 adults highlights a mixed sentiment among Americans regarding their local cost of living. While 55% of respondents view their area as affordable—classifying it as "very affordable" (11%) or "affordable" (44%)—a sizable portion, 45%, disagree, indicating their surroundings are "not very affordable" (36%) or "not affordable at all" (9%).
Demographic variations emerged in the survey, conducted from June 17 to 21, revealing that younger generations—specifically Gen Z (19%) and Millennials (17%)—perceive affordability more favorably than older generations like Gen X (10%) and Baby Boomers (3%). Gender also plays a role, as 60% of men report finding their local cost of living affordable compared to 50% of women. The poll’s statistical margin of error stands at ±2.1 percentage points.
In terms of personal finances, the survey reveals concerning trends: 33% of respondents reported worsening financial situations over the past year, while 40% said their finances remained stable. Older generations, particularly 39% of Gen X and 35% of Boomers, reported declines in their financial well-being more frequently than younger individuals (29%).
Income disparities are pronounced, as 47% of households earning under $50,000 feel their finances have worsened, compared to just 27% of those with higher earnings. Interestingly, men (36%) were twice as likely as women (18%) to say their financial situations had improved.
Overall, half of respondents expressed satisfaction with their savings, while 31% reported dissatisfaction. This poll underscores a critical moment for the American populace, balancing a bleak financial outlook with a relatively high local cost-of-living satisfaction.
Note: The image is for illustrative purposes only and is not the original image of the presented article.
