The median household income in Taylor, Michigan, is $59,352.
Understanding Household Income in Taylor
Median household income provides a key insight into the economic well-being of a community. It represents the midpoint of all household incomes, meaning half of the households earn more and half earn less than this figure. This metric offers a more accurate picture than the average, as it is less skewed by extremely high or low incomes.
Factors influencing median household income in a city like Taylor can include:
- Local job market conditions: Availability of jobs, average wages, and industry diversity.
- Cost of living: Housing costs, consumer prices, and taxes can impact disposable income.
- Demographics: Age distribution, educational attainment, and household composition.
Variations Across Taylor's Census Tracts
While the overall median household income for Taylor, MI, is $59,352, it's important to note that income levels can vary significantly within different areas of the city. In 2022, certain census tracts reported substantially higher median household incomes, indicating pockets of greater economic prosperity.
Here's a look at the census tracts with the highest median household incomes in Taylor, Michigan, in 2022:
| Census Tract | Median Household Income (2022) |
|---|---|
| 5836 | $89,444 |
| 5834 | $80,256 |
| 5837 | $78,976 |
These variations highlight the diverse economic landscapes that can exist within a single municipality. Census Tract 5836, for example, shows a median household income nearly $30,000 higher than the city-wide median, reflecting areas that might have newer housing, different job opportunities, or a higher concentration of professionals. Understanding these localized differences can provide a more nuanced view of the city's economic profile.
