Central PA Wealth Facts: Median Household Income
There are a number of factors to look at in terms of wealth. For instance, we have listed a set in the infographic above for the Central Pennsylvania marketplace in comparison with the United States as a whole. Wealth as an overall category can be measured by looking at household income, per capita income, disposable income, home values, and net worth. Overall, the Central Pennsylvania region is relatively similar to the United States. In fact, the region tops the US in median household income, median disposable income, and median net worth.
For the purposes of this article, we will be giving you a deeper look into one of these wealth factors - Median Household Income for the Central Pennsylvania marketplace.
Median Household Income
In terms of median household income, the Central Pennsylvania region is relatively in line with that of the U.S. average. The median household income in 2015 across the region was $66,385. This represents about a 4% increase since 2014. By 2020, the median household income is expected to rise to $73,800, still positioning the area about 5.6% higher than the national average.
The graph above shows the growth in the median household income from 2000-2015 and the projected growth for the year 2020 for each of the nine Central PA Counties. The dark blue bars represent the year 2000, green represents 2010, grey represents 2015, and red represents 2020. Overall, Cumberland County has the highest median income. In 2015, the county's median household income was $71,916 and it is estimated to increase to $80,290 by the year 2020.
The heat map above shows the 2015 median household income by Central PA zip codes. The darker colors represent higher incomes, while lighter colored areas represent lower median incomes. The top 3 zip codes with the highest median household incomes in the region are located in Cumberland County. These zip codes include the following: 17072 New Kingston - $87,500; 17050 Mechanicsburg - $84,900; 17007 Boiling Springs - $83,954
The heat map above is a result of zooming down into a market closer to show information based on census block groups versus by zip code. This map displays the 2015 median household income in the Harrisburg / Camp Hill / Mechanicsburg marketplaces. The darker colors represent higher incomes while lighter color areas represent lower median household incomes.
Stay tuned for additional articles related to wealth facts in the Central Pennsylvania marketplace in upcoming MORETidbits