Income
Household Income (HHI)
Median HHI - $89,611
With a Median Household Income of $89,611 the Richmond-Charlottesville, VA Market ranks 36th across STI Markets.
Income Distribtuion Line
Below the multi-colored line represents the same data for household income in the Richmond-Charlottesville, VA 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.
Figure 38: Income Distribution Line
HH Income by Age of Head of Householder
HHI Age under 25 - $68,793
With an Average Household Income for those head of householders aged under 25 of $68,793 the Richmond-Charlottesville, VA market ranks 52nd across STI Markets.
Figure 41: HHI 00to25 Thematic
HHI Age 25 to 45 - $127,000
With an Average Household Income for those head of householders aged 25 to 45 of $127,000 the Richmond-Charlottesville, VA market ranks 36th across STI Markets.
Figure 42: HHI 25to45 Thematic
HH Income by Age of Head of Householder
HHI White - $133,674
With an Average Household Income for those head of householders Non-Hispanic White of $133,674 the Richmond-Charlottesville, VA market ranks 28th across STI Markets.
Figure 46: HHI white Thematic
HHI Black - $90,168
With an Average Household Income for those head of householders identifying as Non-Hispanic Black of $90,168 the Richmond-Charlottesville, VA market ranks 52nd across STI Markets.
Figure 47: HHI black Thematic
HHI Asian - $152,833
With an Average Household Income for those head of householders identifying as Non-Hispanic Asian of $152,833 the Richmond-Charlottesville, VA market ranks 22nd across STI Markets.
Figure 48: HHI asian Thematic
Disposible Income - $91,093
Disposable income is defined here as Household Income after accounting for Federal, State, and Local taxes. The Average Household Disposable Income is $91,093 which ranks 35th across STI Markets.
This is a drop of $30,229, or 24.92%, overall this percentage drop ranks 24th across STI Markets.
Figure 51: Disposible Income VS HH Income
Purple = 15% decrease, Blue = 25% decrease, Green = 35% decrease, Orange = 45% decrease, Red = 55% decrease
Discretionary Income - $71,175
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 $71,175 which ranks 30th across STI Markets.
This is a drop of $50,147, or 41.33%, overall this percentage drop ranks 60th across STI Markets.
Figure 52: Discretionary Income VS HH Income
Purple = 15% decrease, Blue = 25% decrease, Green = 35% decrease, Orange = 45% decrease, Red = 55% decrease