Median household income, in 2017 dollars. Half of incomes are below the median and half are above.
Median household income is a gauge of the overall economic health of the region and the financial resources of households.
In 2013-17, the median household income in Essex County was $73,500, a 3% increase from $71,400 in 2008-12 and a 3% decline from $75,900 in 2000 (after inflation). The state had a similar median household income at $74,200 and the nation was substantially lower, at $57,700. Essex County's decline since 2000 compares with no change at the state level and a 7% decline at the national level.
Within Essex County, Boxford had the highest median income, at $155,000, followed by Andover, at $143,300. Lawrence had the lowest median income by far, at $39,600, followed by Lynn, at $53,500. Wenham had the largest percentage decrease in Essex County since 2000, falling 27%, from $133,200 to $97,000. The Town of Essex had the largest percentage increase in the county, at 25%, from $87,600 to $109,300.
Essex County had the lowest median household income among the comparison counties, as Lake, IL was at $82,600, Middlesex, MA was at $92,900, and Westchester, NY was at $90,000 in 2013-17. The decline in Essex County since 2000 was smaller than the 16% drop in Lake and similar to a 4% drop in Westchester, while Middlesex had an increase of 4%.
Figures are in constant 2017 dollars. The multiyear figures are from the Census Bureau's American Community Survey. The bureau combined 5 years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. However, because the information came from a survey, the samples responding to the survey were not always large enough to produce reliable results, especially in small geographic areas. CGR has noted on data tables the estimates with relatively large margins of error. Estimates with 3 asterisks have the largest margins, plus or minus 50% or more of the estimate. Two asterisks mean plus or minus 35%-50%, and one asterisk means plus or minus 20%-35%. For all estimates, the confidence level is 90%, meaning there is 90% probability the true value (if the whole population were surveyed) would be within the margin of error (or confidence interval). The survey provides data on characteristics of the population that used to be collected only during the decennial census. Data for this indicator are released annually in December.