Versailles, Missouri, has recently been designated as the poorest town in the state, a title that highlights significant economic challenges faced by its residents. With a population of approximately 2,539 as of the 2020 census, Versailles is the county seat of Morgan County and has a rich history dating back to its establishment in 1835.
Economic Overview
The median household income in Versailles is notably low at $22,786, which starkly contrasts with Missouri’s overall median household income of $61,043. Additionally, the town’s median home value stands at $87,700, significantly below the state average of $171,800.
This economic disparity is further illustrated by the fact that around 26.7% of households in Versailles rely on SNAP benefits, indicating a high level of poverty and economic distress within the community.
Demographics and Living Conditions
In terms of demographics, about 16.5% of the population lives below the poverty line, with even higher rates among children and seniors. The median income for families in Versailles is reported at $31,088, while per capita income is just $14,200. Such figures reflect not only the financial struggles faced by many residents but also highlight the broader economic conditions in rural Missouri.
Community and Culture
Despite its economic challenges, Versailles hosts annual events like the Old Tyme Apple Festival, which fosters community spirit and draws visitors to the area.
The town also features historic sites such as the Martin Hotel and Morgan County Courthouse, both listed on the National Register of Historic Places. These cultural landmarks serve as reminders of Versailles’ historical significance and potential for tourism.
Conclusion
The designation of Versailles as Missouri’s poorest town underscores the ongoing economic challenges faced by many rural communities in America. Addressing these issues will require concerted efforts from local leaders, state agencies, and community organizations to improve living conditions and create sustainable economic opportunities for residents.