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$250,000 Is a Lot of Income, Even in New York City
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| Contributor | 411 Name Removed |
| Last Edited | 411 Name Removed Jul 11, 2012 03:48pm |
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| Category | General |
| Author | Matthew Yglesias |
| News Date | Wednesday, July 11, 2012 09:00:00 PM UTC0:0 |
| Description |
Something that comes up frequently in tax discussion is prosperous New York journalists who are socially acquainted with even richer people saying that $250,000 isn't a lot of money in a place like New York.
The best starting point for that discussion is the fact that the median household income in New York City is about $50,000, which is slightly below the national median of $55,000. People are perhaps thinking of the fact that in Manhattan, average incomes are higher than the national average. But even in Manhattan the median household income is only $65,000, and if you're earning almost quadruple the local median income you're obviously doing pretty well. The flipside of this is that in the Bronx the median household income is below $35,000, so if you want to work in New York and make sure you're way wealthier than your neighbors, you can always move there |
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