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Median household income

Median household income Definition

The median household income is commonly used to provide data about smaller geographic areas. The median is the middle number present in a set of data when the incomes of all household are arranged in an order of highest to lowest (if number of values in a set is even, the average between the two middle values are used). This is considered by many staticians to be a better indicator than the average household income as it is not dramatically affected by unusually high or low values.








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