In 2022, the median household income in Nantucket, Massachusetts, was $131,736. While the term "average income" can sometimes refer to the mean, the median household income is often used as a more representative measure of a typical household's earnings. This is because the median value is the middle point in the income distribution, making it less influenced by extremely high or low incomes that can skew a mean average.
Nantucket is known for its unique demographics and economic trends, which are reflected in its income data.
Income Trends in Nantucket
The median household income in Nantucket has seen significant growth in recent years, indicating a rising economic standard for its residents.
Key Income Data (2021-2022):
| Metric | 2021 | 2022 | Change |
|---|---|---|---|
| Median Household Income | $108,167 | $131,736 | +21.8% |
This substantial increase highlights a period of strong economic growth for households on the island.
Population Context
Understanding income figures also benefits from considering the local population dynamics. Nantucket's population has experienced a slight decrease recently, even as incomes have grown.
- 2022 Population: Approximately 10,479 people
- 2021 Population: 10,699 people
- Population Change (2021-2022): A decline of 2.06%
Despite the slight population dip, the robust growth in median household income suggests an increasing prosperity among the resident households. This data provides insights into the economic landscape of this unique Massachusetts island community. For more detailed demographic and economic information, you can explore various online platforms that compile public data.
