Household Income facts
While investigating facts about Household Income Percentile and Household Income Meaning, I found out little known, but curios details like:
The average Wal-Mart shopper is a white, 50-year-old female with an annual household income of $53,125
how household income is calculated?
A household income of $400,000 puts you in the top 1% of earners in the United States
What household income is considered middle class?
In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what household income is middle class. Here are 47 of the best facts about Household Income Definition and Household Income Calculator I managed to collect.
what household income is considered upper class?
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The "service fee" on your phone bill is used by the FCC to provide communication to low income households, rural health clinics, and libraries.
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A local NYC News Station's investigation revealed that over 1,500 families with 6-figure incomes lived in subsidized New York City Housing Authority apartments, including one household that pulled in nearly $500K/year plus income from property holdings
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Affluent teens (>$75k HHI) don’t use Facebook (36% usage), while teens in low-income households (<$30k HHI) do use Facebook (70% usage).
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Indian American have the top median household income of in America at $101,591, followed by Taiwanese Americans at $85,566 (on the other hand, Native Americans have a median household income of $37,227).
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In 2007 it is estimated that 40% of households in the United States did not owe any federal income tax. Due to the economic downturn in subsequent years it is estimated that in 2012, 47% of American households did not owe any federal income taxes.
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Owsley County, Kentucky, a county that is among the poorest in the United States. Median household income of $19,146, 45% of the population lives below poverty line.
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Some European countries link traffic tickets to household income resulting in $103K speeding ticket for a Finnish man.
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The US spends the least of household income on groceries
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Almost half of US households exhaust their salaries - 47% say they spend all of their income, go into debt or dip into savings to meet their annual expenses
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51% of American households pay no income tax
Household Income data charts
For your convenience take a look at Household Income figures with stats and charts presented as graphic.
Why is student finance based on household income?
You can easily fact check why average household income by examining the linked well-known sources.
Due to a special tax levy on households with a €1.3+ milion net worth, more than 8,000 French households had to pay tax bills higher than their entire 2011 yearly income.
According to the Reserve Bank of Australia, household income across Australia was 13% higher thanks to the iron ore mining industry.
Approximately 2.3 million people (2.2% of all US households) live in low-income, rural areas that are more than 10 miles from a supermarket, This is known as a "Food Desert" - source
While the Median Household Income has gone up (blue line) it's actual equivalent buying power (purple line) has stayed the same since 1965.
Household incomes in the $50,000 range only have $166 a month of "free cash" to spend after bills - source
When to report household employee income?
The average household income in Purchase, NY is estimated to be approximately $352,000, which, according to Time Magazine, is the highest among all cities and towns in the United States.
How to report household employee income?
Even though the technical recession ended in 2009, median household income did not bottom out until 2012.
The US has the highest household disposable income in the world.
54% of a surveyed group of transgender people with a household income of less than $10,000 have attempted suicide, while only 26% of the group with a household income of over $100,000 reported to have a suicide attempt
The average household income of the top 1% in the United States is $1,260,508.
Despite being infamous for its cost-of-living, the median household income in NYC was $50,711 in 2010-2012, less than the national median of $51,842 in 2011 according to the BLS
Household income infographics
Beautiful visual representation of Household Income numbers and stats to get perspecive of the whole story.