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Old 01-26-2011, 03:22 PM
 
7,658 posts, read 10,762,223 times
Reputation: 1220
Quote:
Originally Posted by tomonlineli View Post
Also, a lot of day laborers and helpers live in the Hamptons, effectively pulling down the median income.
Dude

Do you know how many day laborers it would take to drag down the median income of Speilberg alone.

Thats not it.

I think rentals are skewing the data.

And coming in at a spry 277
http://virtualglobetrotting.com/states/NY/East_Hampton/

Crooks
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Old 01-26-2011, 03:23 PM
 
6,046 posts, read 7,134,763 times
Reputation: 1860
Quote:
Originally Posted by Crookhaven View Post
No way Long Beach is 219

But wait a minute...we may be on to something.

Rentals.
Perhaps but the most expensive building starts @ $1.3 million and my understanding is that it's "owners only" (no rentals)...so obv those people have $$...are they not counted in this "data"...219 sounds awfully low.
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Old 01-26-2011, 03:25 PM
 
7,658 posts, read 10,762,223 times
Reputation: 1220
Quote:
Originally Posted by Jdawg8181 View Post
Perhaps but the most expensive building starts @ $1.3 million and my understanding is that it's "owners only" (no rentals)...so obv those people have $$...are they not counted in this "data"...219 sounds awfully low.
I agree.

Big dollar condos and co-ops in LB

There are guite a few beach rentals though.

Crooks
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Old 01-26-2011, 03:27 PM
 
Location: Long Island (chief in S Farmingdale)
14,078 posts, read 7,460,134 times
Reputation: 2476
Quote:
Originally Posted by Crookhaven View Post
No way Long Beach is 219

But wait a minute...we may be on to something.

Rentals.
Long Beach has a bit higher senior population, as well as you said with more rentals. Long Beach has a higher population of those in their 20's and early 30's who are either in entry level jobs or fairly early in their career.
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Old 01-26-2011, 03:33 PM
 
Location: Long Island (chief in S Farmingdale)
14,078 posts, read 7,460,134 times
Reputation: 2476
Quote:
Originally Posted by Crookhaven View Post
Dude

Do you know how many day laborers it would take to drag down the median income of Speilberg alone.

Thats not it.

I think rentals are skewing the data.

And coming in at a spry 277
City: East Hampton (NY): Views - Virtual Globetrotting

Crooks
You are confusing median and mean. For example day you have two day laborers, one making $20,000 another making $25,000 then you have rich guy making $25 million, the median income would be $25,000, the mean income be $8,348,333. Take a look at the Per Capita income in East Hampton compared to the others, you can tell the wealthy are included.

Aside from that does the rich person even consider East Hampton his/her Primary residence or a 2nd home?
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Old 01-26-2011, 04:11 PM
 
7,658 posts, read 10,762,223 times
Reputation: 1220
Quote:
Originally Posted by Smash255 View Post
You are confusing median and mean. For example day you have two day laborers, one making $20,000 another making $25,000 then you have rich guy making $25 million, the median income would be $25,000, the mean income be $8,348,333. Take a look at the Per Capita income in East Hampton compared to the others, you can tell the wealthy are included.

Aside from that does the rich person even consider East Hampton his/her Primary residence or a 2nd home?
We keep coming back to that question

I think its the rental stock.

Take it a step further how many illegal day laborers are filing w2s?


Crooks
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Old 01-26-2011, 05:07 PM
 
Location: Union County
5,084 posts, read 4,778,841 times
Reputation: 3676
Most people get confused because they think "median == average"... it doesn't work that way.

Median - Wikipedia, the free encyclopedia

If you take 5 incomes...

$4.7B
$379,000
$80,000
$79,000
$1

The "median" is $80,000.

This explains how Crooks 8 digit income can't bring up the bikers on UE bennies. They outnumber him.

Quote:
In probability theory and statistics, a median is described as the numeric value separating the higher half of a sample, a population, or a probability distribution, from the lower half. The median of a finite list of numbers can be found by arranging all the observations from lowest value to highest value and picking the middle one. If there is an even number of observations, then there is no single middle value; the median is then usually defined to be the mean of the two middle values.[1][2]
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Old 01-26-2011, 05:16 PM
 
6,046 posts, read 7,134,763 times
Reputation: 1860
Quote:
Originally Posted by Smash255 View Post
Long Beach has a bit higher senior population, as well as you said with more rentals. Long Beach has a higher population of those in their 20's and early 30's who are either in entry level jobs or fairly early in their career.
Old people are secretly loaded
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Old 01-26-2011, 06:01 PM
 
Location: Massapequa Park
3,173 posts, read 3,330,545 times
Reputation: 1318
Quote:
Originally Posted by Smash255 View Post
I know only a very small portion of Massapequa Park is on the bay, my point was as far as per capita income (since its based off average/mean as opposed to median) is that a small handful of very wealthy could skew that data.

As far as the median earnings for full time workers, males in Massapequa Park have higher incomes than males in Baldwin, but females in Baldwin have higher incomes than females in Massapequa Park.

If you take those numbers and equate it to your typical two income household (which most are) you are basically looking at $119,000 in Massapequa Park and $115,632 in Baldwin. The socio-economic differences between Massapequa Park and Baldwin is quite a bit smaller than you might think
No, the problem with per capita is, it takes into account the WHOLE population of a village. Even 5 year olds and part-time employees. Not very useful information. Not really much to do with being an avg or a median calc.

That is ultra-simplistic to add 2 numbers and assume they are the same socioeconomically. Are you considering the % in work force at all? 62.5% to 70.2% is a significant difference. If that's the case, then I could say Herricks too is the same socioeconomically as Baldwin and Mass Park, "the numbers are close".?


BALDWIN- % in workforce 70.2%,
% of females in labor force 69.5%
Median earnings for male full-time, year-round workers (dollars) $63,487
Median earnings for female full-time, year-round workers (dollars) $52,145
~Total= $115,500

----------------------------

MASS PARK- % in workforce 62.5%,
percent of females in labor force 55.5%
Median earnings for male full-time, year-round workers $75,915
Median earnings for female full-time, year-round workers (dollars) $43,005
~Total= $119,000

HERRICKS- % in workforce 63.3%,
% of females in labor force 54.2%
Median earnings for male full-time, year-round workers (dollars) $76,618
Median earnings for female full-time, year-round workers (dollars) $43,882
~Total= $120,000

Would you consider all three of these areas to be the same, socioeconomically?

Without even considering Median age of each village, amount of children under 16 and senior citizens on retirement income being greater in Mass park and Herricks than in Baldwin, slightly larger family sizes in Baldwin, more foreign-born residents, more women working rather than staying at home to raise kids... it's way too simplistic to say they are a match because the numbers add up. You could also look at welfare/ssi/poverty levels in each and gather more differences between each town. But even added up, you see that Mass Park/Herricks are higher earning than Baldwin, yet Baldwin is ranked 109, Mass park 116, and Herricks 143. Obviously there's more to it than Median Household Income. The ranks and use of MHI creates erroneous results when comparing LI towns.


Quote:
Originally Posted by Crookhaven View Post
Is that a threat tough guy

I thought it was only about Rocky Point and Pequa.
Its not their standings that I'm calling onto question.
It where they are in relation to their peers which is questionable.

Crooks
Crooks: I've been saying that since the first post, post # 6 of this thread.
"These median household income lists are misleading.
Seanx4 and I had a long discussion on this on another thread.
Many areas are a lot poorer than what the Median Household Income is indicating"
LI communities ranked by income
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Old 01-26-2011, 06:33 PM
 
Location: Long Island (chief in S Farmingdale)
14,078 posts, read 7,460,134 times
Reputation: 2476
Quote:
Originally Posted by Pequaman View Post
No, the problem with per capita is, it takes into account the WHOLE population of a village. Even 5 year olds and part-time employees. Not very useful information. Not really much to do with being an avg or a median calc.

That is ultra-simplistic to add 2 numbers and assume they are the same socioeconomically. Are you considering the % in work force at all? 62.5% to 70.2% is a significant difference. If that's the case, then I could say Herricks too is the same socioeconomically as Baldwin and Mass Park, "the numbers are close".?


BALDWIN- % in workforce 70.2%,
% of females in labor force 69.5%
Median earnings for male full-time, year-round workers (dollars) $63,487
Median earnings for female full-time, year-round workers (dollars) $52,145
~Total= $115,500

----------------------------

MASS PARK- % in workforce 62.5%,
percent of females in labor force 55.5%
Median earnings for male full-time, year-round workers $75,915
Median earnings for female full-time, year-round workers (dollars) $43,005
~Total= $119,000

HERRICKS- % in workforce 63.3%,
% of females in labor force 54.2%
Median earnings for male full-time, year-round workers (dollars) $76,618
Median earnings for female full-time, year-round workers (dollars) $43,882
~Total= $120,000

Would you consider all three of these areas to be the same, socioeconomically?

Without even considering Median age of each village, amount of children under 16 and senior citizens on retirement income being greater in Mass park and Herricks than in Baldwin, slightly larger family sizes in Baldwin, more foreign-born residents, more women working rather than staying at home to raise kids... it's way too simplistic to say they are a match because the numbers add up. You could also look at welfare/ssi/poverty levels in each and gather more differences between each town. But even added up, you see that Mass Park/Herricks are higher earning than Baldwin, yet Baldwin is ranked 109, Mass park 116, and Herricks 143. Obviously there's more to it than Median Household Income. The ranks and use of MHI creates erroneous results when comparing LI towns.

You are the one that showed the median income for full time working males and females. Yes its a little more complicated than simply adding the two categories, but taking that into consideration would generally cancel out anything that could get skewed from having more seniors (and as a result fewer in the labor force) because by looking at those income levels you are actually looking at incomes for the people who could get incomes and not have it skewed lower by more Seniors. As far as those under 16 being higher in Mass Pk than Baldwin, not sure where you got that info, and it doesn't appear to be true. No category for under 16, but under 18 is 24.2% in Massapequa Park, 24.7% in Baldwin.

As far as poverty rates, all three are so low it doesn't even merit discussion 2.8% Herricks, 2.6% Baldwin, 1.7% Massapequa Park.

Anyway my whole point is when you compare Massapequa Park to Baldwin, you will find differences demographically, but outside of the small area right along the water in Massapequa Park, you will find very few differences in the socio-economic status between the two.
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