American Institute of Certified Planners (AICP) Practice Exam

What was the median household income reported annually?

1. $36,500

2. $46,326

3. $52,120

4. $58,400

The correct answer is: $46,326

The median household income is a statistical measure that represents the middle point of income distribution, meaning half of households earn more and half earn less. The figure of $46,326 reflects a specific data point from the U.S. Census Bureau or similar economic surveys, which gather and analyze demographic and income data periodically. The importance of identifying the median income is vital for understanding economic health and the standard of living within various regions. It serves as a benchmark for evaluating economic disparities and the effectiveness of policies designed to address issues like poverty, housing affordability, and access to services. When interpreting median household income, it's essential to consider the broader economic context, including factors such as inflation, changes in job markets, and shifts in demographics. This specific value provides insight into middle-income households' economic conditions, serving as a relevant reference for planners, policymakers, and researchers when analyzing community well-being and resource allocation.