Description
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The median household income provides
an indication of how well people are doing financially in a neighborhood. Lower
wage earners may have higher percentages of their income devoted to consumption
and less for saving, making them less resilient in economic downturns. Higher
wage earners may have more of their income available for consumption and more
savings that can enable them to be more resilient in economic downturns.
Service providers and retailers look at income levels to help them locate their
services.
The household income at the midpoint
of all households. Half of the households in this blockgroup earn a higher
annual income and half earn a lower annual income. These amounts are
inflation-adjusted for 2011.
As with all measurements from the American Community Survey in the Neighborhood
Compass, this data represents 5 years' worth of surveying. With each annual
update, the 5-year period advances by dropping one year and incorporating the
next. For this reason, annual releases of this measurement are not suitable for
true time series comparison until no overlap exists among the survey periods.
Dataset Attributes
About
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