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Besides, it tells you exactly what you are asking us...
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Originally Posted by ziggyziggy
Does this mean the household income or each individuals? Also what is the difference between household income and family income, if there is one.
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The median household income in Plainview, New York 11803 is $112,313. The median household income for the surrounding county is $88,105 compared to the national median of $50,935. The median age of people living in Plainview 11803 is 44.3 years.
any difference between household and family income?
I don't think so. Of course, one can argue family income is just the parents and household income could [potentially) include any income from kids or other people living inside the home. I'd say they're interchangeable terms. Why do you ask ? Is there a report you just read that distinguishes between the two?
Last edited by LegalDiva; 08-07-2013 at 12:26 PM..
Does this mean the household income or each individuals? Also what is the difference between household income and family income, if there is one.
Household income includes everyone living in the house. Median meaning half of the households earn more than $120k, half earn less.
Household income is all dwellings, including single renters, co-ops, houses. Family income is the subset of households including 2 or more related individuals, either through marriage or blood. I believe census also includes the other subset (non-family income).
Family income might actually be more of a realistic figure to get an idea of LI "household" income.
Household income includes everyone living in the house. Median meaning half of the households earn more than $120k, half earn less.
Household income is all dwellings, including single renters, co-ops, houses. Family income is the subset of households including 2 or more related individuals, either through marriage or blood. I believe census also includes the other subset (non-family income).
Family income might actually be more of a realistic figure to get an idea of LI "household" income.
Nice post, although most are aware median refers to mid-point, people seem to not take into account that the upper half is in the millions in Manhasset compared to Plainview. So, I agree, this is why you would stay clear of Plainview if possible. Just stay away.
Nice post, although most are aware median refers to mid-point, people seem to not take into account that the upper half is in the millions in Manhasset compared to Plainview. So, I agree, this is why you would stay clear of Plainview if possible. Just stay away.
Not sure why... there's homes starting as low as $350k.
The "mean" is the "average" you're used to, where you add up all the numbers and then divide by the number of numbers. The "median" is the "middle" value in the list of numbers. To find the median, your numbers have to be listed in numerical order, so you may have to rewrite your list first. The "mode" is the value that occurs most often. If no number is repeated, then there is no mode for the list.
The "range" is just the difference between the largest and smallest values.
Purple Math
The 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 is generally used for skewed distributions.
The median is better suited for skewed distributions to derive at central tendency since it is much more robust and sensible.
I checked American FactFinder - Search too and the number for Manhasset was accurate at 112k but it said Plainview was 122k. Brookville was 245k. All numbers for last 5 years median.
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I'd say they're interchangeable terms. Why do you ask ? Is there a report you just read that distinguishes between the two?
