|
Household
Income
|
|
|
|
 |
| MOST RECENT STATISTIC: |
$50,303 |
|
|
| GRADE: |
F |
|
|
| PERIOD COVERED: |
2008 |
|
|
| Date Released: |
08/31/09 |
|
|
| Next Release: |
08/31/10 |
|
|
|
|
|
2008 |
2007 |
2006 |
2005 |
2004 |
|
| Median |
$50,303 |
$52,163 |
$51,473 |
$51,093 |
$50,535 |
| 1-Yr. Change, nominal |
- |
(3.57%) |
1.34% |
0.74% |
1.10% |
| 1-Yr. Change, real |
|
|
|
|
|
|
| Source:
U.S. Census Bureau |
Analysis for the Housing Market
By: Ken Lee
Median household income declined 3.6% nominally in 2008 to $50,303 from the previous year. Median household income had recorded increases in each of the past three years before dropping in 2008. Median household income is now back to its lowest levels since 1997.
The nation's poverty rate increased to 13.2% from 12.5% in the previous year. This is the second straight year that the number of people in poverty has increased. This is the first statistically significant increase in the nation's poverty rate since 2004. In 2008, there were 39.8 million people in poverty which is up from 37.3 million in 2007.
Definitions and Importance for the Housing
Market
By:Jonas Adams
Median household income is the amount which divides the income distribution into two equal groups, half having incomes above the median and half having incomes below the median. The median household income is determined by the Census Bureau as part of their Current Population Survey. The 1999 survey was released in September, 2000. The information is based on a sample from the Current Population Survey and is based upon a probability sample of about 50,000 housing units.
For more information on Household Income, go to:
http://www.census.gov/hhes/www/income.html
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