Reply to For that person trying to figure out whether her family's income would "fit in" to WJ

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Reply to "For that person trying to figure out whether her family's income would "fit in" to WJ"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wow. I had no idea I lived in a census tract where the HHI is 240K+... when our HHI is below 100K. The lovely quasi-estates a few streets down must skew the median quite a bit. Our street with human-sized houses and kids running in every back yard must be the "poorest" in this census tract![/quote]

Median is the midpoint.  So means that half the households in the tract are below the median.  And half are above. The "lovely quasi estates" might skew the average but less likely to skew a median.[/quote]

Except that these beautiful houses with grounds represent about half (maybe a little less) of the real-estate in my census tract... so they do very much skew the median. The rest are old houses that were built for the lower middle class in 1920, interspersed with new McMansions.[/quote]

Skewing is typically outliers.  Half the households are not outliers, they are the norm.  But if the median is $240k is sounds like maybe the under $100k households are the outliers, not the high end. Or you have is a barbell effect - 50% wealthy and 50% poor, although that still wouldn't explain the median at $240k.[/quote]

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