Incorrect Incomes on Downtown Survey?

By an edhat subscriber

There is an article in the Independent about the results of a retail survey for the Downtown Organization where they are trying to figure out why there are so many vacancies downtown. The Downtown Organization hired a consultant to do an “autopsy” and the report cited too many businesses catering to the young and tourists, too many chain stores, as well as the homelessness problem. 

One thing that popped out was the “the average household income of this resident population” stated as $103,000 a year. That number, if true is really off, which would mean that other things are likely off too. The Housing Task Forces Community Profile, dated 3/20/17, outlined our owner occupied (40%) and non-owner occupied (60%) homes and the incomes.

The numbers they had were:

• $104,896 – Median Income of an owner household
• $49,684 – Median Income of a renter household

It doesn’t seem like the report could be valid if this number is so out of whack. Thoughts?