The researchers also measured socioeconomic status looking
at median household income, the percentage of individuals living below the poverty level, and whether or not they had a high school education.
On the other hand, median expected earnings and spending growth both increased slightly,
while median household income growth expectations were marginally lower.
Interestingly,
median household income here is nearly twice the national average, suggesting that the job market performs highly for such an affordable area.
The firm argues that median house prices should be no more than three times larger than
gross median household incomes to remain affordable, and to prevent housing bubbles.
Once census tracts were categorized as predominantly black, white, or Hispanic, we used census tract - level
median household income from the U.S. Census Bureau alongside the Zillow Home Value Index (ZHVI) and Zillow Rent Index (ZRI) to calculate rent and mortgage burdens in census tracts.
Median household income hovers around $ 32,800, which is generally sufficient for a middle class lifestyle in Dauphin County and the surrounding area.
Using
median household income data for Phoenix, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate.
Over the years some readers expressed frustration that we use average instead of
median household income figures, given that averages can get distorted when there is a large concentration of wealth in a given area.
To find out what a typical mortgage with Wells Fargo might cost, we used the
American median household income, median single - family home price and a 10 % down payment on a 30 year fixed - rate loan of $ 178,200.
According to the Census Bureau,
median household income across much of the Inland Empire fell between 1990 and 2000, dropping 8.3 % in Riverside County and 3.6 % in San Bernardino County.
Annual income in the tri-county area did inch up in 2014, but the increase was so small — $ 832 — that the Census Bureau «can't be certain that
real median household income actually rose over the period,» said spokesman Robert Bernstein.
Suppose you were presented with an opportunity to invest in brand new small multifamily (4 units) properties in a new development in an established Texas market with impressive population growth and solid tenant demand with
strong median household incomes to support your rents.
Median household income per paycheck: $ 2,768.35 Total leftover income after cost of living expenses: - $ 738.04 Percentage of leftover income: -26.66 %
For households headed by someone 65 and older, inflation -
adjusted median household income rose by 4.3 % in 2016, less than the 7 % gain achieved by those households headed by someone aged 34 - 45, but better than the decline of 1.2 % seen by the older cohort in 2014.