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About this dataset

Context

The dataset presents median household incomes for various household sizes in Somerset County, NJ, as reported by the U.S. Census Bureau. The dataset highlights the variation in median household income with the size of the family unit, offering valuable insights into economic trends and disparities within different household sizes, aiding in data analysis and decision-making.

Key observations

• Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, all of the household sizes were found in Somerset County. Across the different household sizes in Somerset County the mean income is $158,429, and the standard deviation is $50,002. The coefficient of variation (CV) is 31.56%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.
• In the most recent year, 2021, The smallest household size for which the bureau reported a median household income was 1-person households, with an income of $66,236. It then further increased to $170,801 for 7-person households, the largest household size for which the bureau reported a median household income.

https://i.neilsberg.com/ch/somerset-county-nj-median-household-income-by-household-size.jpeg" alt="Somerset County, NJ median household income, by household size (in 2022 inflation-adjusted dollars)">

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Household Sizes:

• 1-person households
• 2-person households
• 3-person households
• 4-person households
• 5-person households
• 6-person households
• 7-or-more-person households

Variables / Data Columns

• Household Size: This column showcases 7 household sizes ranging from 1-person households to 7-or-more-person households (As mentioned above).
• Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific household size.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Somerset County median household income. You can refer the same here

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United States New Jersey: GR: OS: Taxes: Individual Income data was reported at 13,250,002.000 USD th in 2015. This records an increase from the previous number of 11,973,673.000 USD th for 2014. United States New Jersey: GR: OS: Taxes: Individual Income data is updated yearly, averaging 4,238,312.000 USD th from Jun 1972 (Median) to 2015, with 42 observations. The data reached an all-time high of 13,250,002.000 USD th in 2015 and a record low of 23,258.000 USD th in 1972. United States New Jersey: GR: OS: Taxes: Individual Income data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.F039: Revenue & Expenditure: State and Local Government: New Jersey.

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新泽西州：GR：OS：税收：个人所得在06-01-2015达13,250,002.000千美元，相较于06-01-2014的11,973,673.000千美元有所增长。新泽西州：GR：OS：税收：个人所得数据按年更新，06-01-1972至06-01-2015期间平均值为4,238,312.000千美元，共42份观测结果。该数据的历史最高值出现于06-01-2015，达13,250,002.000千美元，而历史最低值则出现于06-01-1972，为23,258.000千美元。CEIC提供的新泽西州：GR：OS：税收：个人所得数据处于定期更新的状态，数据来源于US Census Bureau，数据归类于Global Database的美国 – 表 US.F038：收入和支出：州及地方政府：新泽西州。

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