2010 Household Income Distribution
Recently median household income has declined steadily but risen for the top 10% and dropped significantly for the bottom 10%.
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Why is this important?
This measure shows how Long Island’s standard of living among households at different income levels has changed from year to year. It tracks the income of a representative four-person household. The chart plots the family-of-four household income of the top 10%, the median and the bottom 10% of the income distribution.
How are we doing?
Looking at the long-term trend from 1998 to 2007:
- Real incomes for households in the bottom 10% actually dropped 4%.
- Real incomes for households at the top 10% rose by 9%.
- Median household income has been relatively stagnant.
Median household income has declined relatively steadily since 2003. In constant 2007 dollars, the typical household of four earned 6% less in 2007 as compared to 2003.
These patterns indicate a widening of income inequality on Long Island and an increased economic burden on Long Island households.