Income

Household Income (HHI)

Median HHI - $94,648

With a Median Household Income of $94,648 the Providence, RI Market ranks 28th across STI Markets.

Average HHI - $123,124

The Average Household Income is $123,124 for which this market ranks 33rd.

Income Distribution

Figure 37: Income Distribution

Income Distribtuion Line

Below the multi-colored line represents the same data for household income in the Providence, RI 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

Income Inequality - Moderate

The distribution of Household Income in the Providence, RI market can be considered Moderate with a Gini coefficient of 0.447. This market ranks 69th in Household Income Inequality across all STI Markets.

Average Household Income by Census Tract

The interquartile range of Average Household Income across the market’s Census Tracts, that is its 25th percentile and 75th percentile values, are $87,577 and $146,033, respectively.

Figure 39: Household Income Thematic

HH Income by Age of Head of Householder

Distribtion Comaprison

Figure 40: Income Distribution Line

HHI Age under 25 - $76,450

With an Average Household Income for those head of householders aged under 25 of $76,450 the Providence, RI market ranks 30th across STI Markets.

Figure 41: HHI 00to25 Thematic

HHI Age 25 to 45 - $128,682

With an Average Household Income for those head of householders aged 25 to 45 of $128,682 the Providence, RI market ranks 32nd across STI Markets.

Figure 42: HHI 25to45 Thematic

HHI Age 45 to 65 - $141,248

With an Average Household Income for those head of householders aged 45 to 65 of $141,248 the Providence, RI market ranks 26th across STI Markets.

Figure 43: HHI 45to65 Thematic

HHI Age 65 plus - $95,863

With an Average Household Income for those head of householders aged 65 and over of $95,863 the Providence, RI market ranks 38th across STI Markets.

Figure 44: HHI 65over Thematic

HH Income by Age of Head of Householder

Distribtion Comaprison

Figure 45: Income Distribution Line

HHI White - $130,185

With an Average Household Income for those head of householders Non-Hispanic White of $130,185 the Providence, RI market ranks 33rd across STI Markets.

Figure 46: HHI white Thematic

HHI Black - $100,951

With an Average Household Income for those head of householders identifying as Non-Hispanic Black of $100,951 the Providence, RI market ranks 29th across STI Markets.

Figure 47: HHI black Thematic

HHI Asian - $136,809

With an Average Household Income for those head of householders identifying as Non-Hispanic Asian of $136,809 the Providence, RI market ranks 43rd across STI Markets.

Figure 48: HHI asian Thematic

HHI Other - $103,624

With an Average Household Income for those head of householders identifying as Non-Hispanic Other of $103,624 the Providence, RI market ranks 61st across STI Markets.

Figure 49: HHI other Thematic

HHI Hispanic - $94,104

With an Average Household Income for those head of householders identifying as Hispanic of $94,104 the Providence, RI market ranks 81st across STI Markets.

Figure 50: HHI hispanic Thematic

Disposible Income - $93,294

Disposable income is defined here as Household Income after accounting for Federal, State, and Local taxes. The Average Household Disposable Income is $93,294 which ranks 31st across STI Markets.

This is a drop of $29,830, or 24.23%, overall this percentage drop ranks 34th 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 - $69,850

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 $69,850 which ranks 34th across STI Markets.

This is a drop of $53,273, or 43.27%, overall this percentage drop ranks 23rd 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

Labor

Housing