About this dataset

Context

The dataset presents the mean household income for each of the five quintiles in Newtown Town, Connecticut, as reported by the U.S. Census Bureau. The dataset highlights the variation in mean household income across quintiles, offering valuable insights into income distribution and inequality.

Key observations

• Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 33,974, while the mean income for the highest quintile (20% of households with the highest income) is 440,306. This indicates that the top earners earn 13 times compared to the lowest earners.
• *Top 5%: * The mean household income for the wealthiest population (top 5%) is 752,176, which is 170.83% higher compared to the highest quintile, and 2213.98% higher compared to the lowest quintile.

Content

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

Income Levels:

• Lowest Quintile
• Second Quintile
• Third Quintile
• Fourth Quintile
• Highest Quintile
• Top 5 Percent

Variables / Data Columns

• Income Level: This column showcases the income levels (As mentioned above).
• Mean Household Income: Mean household income, in 2022 inflation-adjusted dollars for the specific income level.

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 Newtown town median household income. You can refer the same here

Provides CT income tax and pass-through entity tax credit claimed by CT town.

The Office of Policy and Management (OPM) prepares the Public Investment Community (PIC) index not later than July 15 annually, pursuant to §7-545 of the Connecticut General Statutes (CGS). The PIC index measures the relative wealth and need of Connecticut’s towns by ranking them in descending order by their cumulative point allocations for: (1) per capita income; (2) adjusted equalized net grand list per capita; (3) equalized mill rate; (4) per capita aid to children receiving Temporary Family Assistance program benefits; and (5) unemployment rate. Pursuant to CGS §7-545 the PIC index includes each town that has a cumulative point ranking in the top quartile of the PIC Index (i.e. the 42 towns with the highest number of points). When a town’s ranking falls below the top quartile in a given fiscal year, the town's designation as a Public Investment Community continues for that year and the following four fiscal years. As a result, the PIC index includes certain towns carried over from previous fiscal years. The PIC index determines eligibility for several financial assistance programs that various agencies administer, including: -Urban Action Bond Assistance -Small Town Economic Assistance Program -Community Economic Development Program -Residential Mortgage Guarantee Program -Education Cost Sharing -Malpractice Insurance Purchase Program -Connecticut Manufacturing Innovation Fund -Enterprise Corridor Zone Designation Most of the towns included on the PIC index are eligible to elect for assistance under the Small Town Economic Assistance Program (STEAP) in lieu of Urban Action Bond assistance, pursuant to CGS §4-66g(b). An eligible town’s legislative body (or its board of selectmen if the town’s legislative body is the town meeting) must vote to choose STEAP assistance and the town must notify OPM following the vote. STEAP election is valid for four years and the statute allows extensions for additional four-year periods. STEAP election is not available for Ansonia, Bridgeport, Bristol, Danbury, East Hartford, Enfield, Groton, Hartford, Killingly, Manchester, Meriden, Middletown, New Britain, New Haven, New London, Norwalk, Norwich, Stamford, Torrington, Vernon, Waterbury, West Hartford, West Haven, and Windham. Pursuant to CGS §7-545, the following municipalities are also Public Investment Communities: Groton Montville Preston Scotland Thomaston Thompson Voluntown Wethersfield