EL PASO, Texas (KTSM) – A new study from Smartest Dollar shows El Paso is the lowest-paying midsize American metro for seniors with the adjusted median annual wage coming in at $37,580.
A “midsize” metropolitan area was defined as an urban center containing anywhere from 350,000 to 999,999 people in this particular study.
A total of 82 cities/urban areas fell into that category with El Paso ranking dead last in median yearly wages for those 65 or older, even after adjusting for certain factors including inflation.
The percentage of Americans 65 and up who are still working has more than doubled in the last two decades, jumping from 4.2-percent in the early 2000s to 8.6-percent based on the latest data available from 2021.
Of course, some of the low pay is off set by the relatively low cost of living in El Paso, and it’s not just seniors impacted by lower wages.
But the study is still unwelcome news for El Paso seniors, who are making almost $18,000 less per year compared to the national median income of approximately $55,000.
The city of Ann Arbor, Michigan had the highest median annual adjusted wage for senior workers, coming in close to the six-figure mark.
Residents 65 and older there earn an adjusted median income of $95,235.
The study also compared states to one another with Texas coming in near the bottom of the list at 39th overall. Seniors across the state earn a median salary of just over $50,000.
However, New Mexico was ranked much higher overall, placing 9th with an adjusted median income close to $59,000 for seniors.