While precise "average income" (mean) data can vary and isn't always readily available in public datasets, the median household income provides a robust and widely used indicator of financial well-being within a community. In Rockport, Massachusetts, the median household income experienced notable growth in recent years.
Understanding Income in Rockport, MA
The most recent data indicates a significant increase in household income for Rockport residents. In 2022, the median household income for the town surpassed previous figures, reflecting a positive trend in the local economy.
It's important to distinguish between "average" (mean) and "median" income.
- Average (Mean) Income: Calculated by summing all incomes and dividing by the total number of incomes. This measure can be skewed by a few extremely high or low earners.
- Median Income: Represents the middle value in a dataset when incomes are arranged from lowest to highest. It's often considered a more accurate reflection of a "typical" household's income, as it is less affected by outliers.
For communities like Rockport, median household income provides valuable insights into the financial landscape of its residents.
Rockport, MA Household Income Data
The following table summarizes key income statistics for Rockport, MA, primarily focusing on median household income:
Metric | Value | Year |
---|---|---|
Median Household Income | $89,574 | 2022 |
Median Household Income (Prior) | $84,500 | 2021 |
Total Households | 2,370 | 2022 |
Key Insights on Rockport's Household Income
- Significant Growth: The median household income in Rockport, MA, saw a healthy increase from $84,500 in 2021 to $89,574 in 2022. This growth indicates a positive economic trend for residents.
- Household Count: As of 2022, there were approximately 2,370 households in Rockport, contributing to the town's overall economic profile.
- Economic Indicator: Median household income is a critical metric for understanding the economic health of a community, reflecting the purchasing power and living standards of its typical residents.
Understanding these figures helps in grasping the economic environment of Rockport, MA, and how it compares to other regions. For a deeper dive into these statistical concepts, you can explore resources explaining the difference between median and average income.