The median monthly household income is now $9,023. This means that if you and your spouse make a combined income of more than $9,023, your family is better off than half the households here.
However, the average monthly household income is $12,027. This means that if your family’s income is exactly $12k, you are actually considered below average. If you are not sure why the average is higher, you need to know about the difference between average and median. Briefly, the average can be skewed (a lot) by high earning families.
Those at the upper echelons make much more. The families in the top 10% (“top decile”) make an average of $31,806, which is disproportionately high. This figure is 62% more than what the next decile makes, and the figures for the remaining deciles* go down linearly:
Household income
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