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Median Household Income: The middle value for household income in an area, measured in dollars
American Community Survey, 5-year estimates, Table B19013
2006-10, 2007-11, 2008-12, 2009-13, 2010-14, 2011-15, 2012-16
Why is this Variable Important to Measure?
Median Household Income
Median household income refers to the income amount at the midpoint of the distribution encompassing all households, including those with no income. The median point divides the distribution of households into an upper and lower half according to their income levels. Household income is calculated by adding the individual income of the head of a household and the incomes of all other inhabitants above 15 years of age, regardless of their relation to the head of the household.
Median household income is important to understanding both the economic status of households and their distribution within a neighborhood. It provides a benchmark for comparisons which can be very useful in designing interventions, implementing government programs, and studying the economic flows between individuals, households, and neighborhoods. Using this measure can also help uncover the important geographic (both between and within states), racial, and temporal variations of household income across the United States.
Posey, Kirby G. "Household Income: 2015." American Community Survey Briefs, vol. 25, no. 2, 2016. Link