The median household income in Flower Mound, Texas, which is a key statistical measure often used to represent the 'average' financial well-being of an area, is $154,471.
Understanding Household Income in Flower Mound, Texas
When discussing "average" household income, it's important to distinguish between the mean and the median. The mean is the sum of all incomes divided by the number of households, while the median is the middle value when all incomes are listed from lowest to highest. For income data, the median is often preferred because it is less affected by extremely high individual incomes, providing a more accurate representation of the typical household's financial standing.
Flower Mound, Texas, is known for its affluent communities, and its high median household income reflects this status. This figure represents the point at which half of the households in Flower Mound earn more, and half earn less, than $154,471.
Key Income Statistics for Flower Mound
While the overall median household income provides a general picture, income levels can vary significantly within different areas of Flower Mound. In 2022, some specific census tracts within the town reported even higher median household incomes, indicating pockets of exceptional wealth.
Census Tract | Median Household Income (2022) |
---|---|
217.51 | $247,330 |
217.50 | $244,833 |
217.49 | $226,862 |
These figures highlight the economic diversity within Flower Mound, with certain areas boasting median incomes substantially above the town's overall average.
What These Figures Mean
The elevated median household income in Flower Mound, along with the even higher figures in specific census tracts, points to several characteristics of the community:
- Affluent Community: Flower Mound attracts residents with higher earning capacities, contributing to a strong local economy.
- High Quality of Life: High income often correlates with access to better amenities, services, and educational opportunities, contributing to a desirable living environment.
- Economic Vibrancy: The substantial income levels suggest a robust local economy with good employment opportunities, or a significant number of residents commuting to well-paying jobs in nearby economic hubs.
Understanding these income statistics provides valuable insight into the economic landscape and demographic profile of Flower Mound, Texas.