Increase Median Income by 10% by December 2018
Median Income In Pierce County
Desired Outcome: Increase Income and Reduce Poverty
About This Indicator: Per capita income is total personal income divided by the total population. Median household income is the income of the "middle" household. When the household income distribution is arranged in order from lowest to highest, half of all incomes are below and half are above the median.
Why This Indicator: Median incomes are used as measures because they tend to more accurately represent what people make in a given area. Given the list of the five-household area with incomes ranging from $10,000 to $250,000, the average would be $76,400, calculated by adding up all five incomes and dividing by five. The average is higher because the highest number on the list is much farther from the middle numbers than is the lowest one. This can skew perceptions of an area's income. The median, which comes from looking at the middle number, gives a better impression of the overall economic health of Pierce County households.
- Median household income in Pierce County: $35, 286 (2016)
- Higher than the statewide median income of $27, 515 (2016)
- Outgrowing Statewide Median Income by 1% over the past five (5) years.
- Ranked #4 (Out of 6 Regional Benchmarking Counties) in total median income amount
- Ranked #2 (Out of 6 Regional Benchmarking Counties) in median income growth (2016)