Income
Household Income (HHI)
Median HHI - $62,735
With a Median Household Income of $62,735 the Traverse CIty, MI Market ranks 132nd across STI Markets.
Income Distribtuion Line
Below the multi-colored line represents the same data for household income in the Traverse CIty, MI market, but more equally lays out the distribution of population versus the income level, correcting for differences in size of income ranges. You will also notice that after 200k the income ranges are scaled down so the focus is more centered on the more numerous Households making under 200k. The black line represents the National Income Distribution for comparison.
![Income Distribution Line](Bookdown_files/figure-html/PS0008-HHI-DistLong-1.png)
Figure 38: Income Distribution Line
HH Income by Age of Head of Householder
HHI Age under 25 - $56,379
With an Average Household Income for those head of householders aged under 25 of $56,379 the Traverse CIty, MI market ranks 77th across STI Markets.
![HHI 00to25 Thematic](Bookdown_files/figure-html/PS0008-HHI-00to25-Map-1.png)
Figure 41: HHI 00to25 Thematic
HHI Age 25 to 45 - $90,245
With an Average Household Income for those head of householders aged 25 to 45 of $90,245 the Traverse CIty, MI market ranks 125th across STI Markets.
![HHI 25to45 Thematic](Bookdown_files/figure-html/PS0008-HHI-25to45-Map-1.png)
Figure 42: HHI 25to45 Thematic
HH Income by Age of Head of Householder
HHI White - $83,333
With an Average Household Income for those head of householders Non-Hispanic White of $83,333 the Traverse CIty, MI market ranks 149th across STI Markets.
![HHI white Thematic](Bookdown_files/figure-html/PS0008-HHI-white-Map-1.png)
Figure 46: HHI white Thematic
HHI Black - $64,072
With an Average Household Income for those head of householders identifying as Non-Hispanic Black of $64,072 the Traverse CIty, MI market ranks 111th across STI Markets.
![HHI black Thematic](Bookdown_files/figure-html/PS0008-HHI-black-Map-1.png)
Figure 47: HHI black Thematic
HHI Asian - $88,679
With an Average Household Income for those head of householders identifying as Non-Hispanic Asian of $88,679 the Traverse CIty, MI market ranks 146th across STI Markets.
![HHI asian Thematic](Bookdown_files/figure-html/PS0008-HHI-asian-Map-1.png)
Figure 48: HHI asian Thematic
Disposible Income - $65,902
Disposable income is defined here as Household Income after accounting for Federal, State, and Local taxes. The Average Household Disposable Income is $65,902 which ranks 137th across STI Markets.
This is a drop of $17,178, or 20.68%, overall this percentage drop ranks 89th across STI Markets.
![Disposible Income VS HH Income](Bookdown_files/figure-html/PS0008-DispInc-Comp-1.png)
Figure 51: Disposible Income VS HH Income
Purple = 15% decrease, Blue = 25% decrease, Green = 35% decrease, Orange = 45% decrease, Red = 55% decrease
Discretionary Income - $49,256
Discretionary income goes a step further. It takes Disposable Income, which already accounts for taxes, and accounts for the typical cost of Food, Housing, and Clothing. The Average Household Discretionary Income is $49,256 which ranks 133rd across STI Markets.
This is a drop of $33,825, or 40.71%, overall this percentage drop ranks 110th across STI Markets.
![Discretionary Income VS HH Income](Bookdown_files/figure-html/PS0008-DiscInc-Comp-1.png)
Figure 52: Discretionary Income VS HH Income
Purple = 15% decrease, Blue = 25% decrease, Green = 35% decrease, Orange = 45% decrease, Red = 55% decrease