Index: Economy / Subcategory: Individual

Median Family Income

Date updated: 02/26/2013

Median Family Income (MFI) is an annual income figure. Unlike per capita income, which is an average, the median divides income distribution into two equal parts: one-half below the median income and one-half above. For example, consider five families with incomes of $10,500, $25,000, $35,500, $60,000 and $75,000. For family average income, add the five incomes ($206,000) and divide by the number of families (5). The result is the average of all family incomes considered, or a per-family income of $41,200. The "median" income for these families would be $35,500, as there are an equal number of incomes below and above $35,500. MFI is based on the distribution of the total number of families, including those with no income.

NOTE: The data below on Median Family Income come from two sources: The United States Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. HUD data were used for single year presentations because it is the most current. U.S. Census Bureau data were used for time series because the same methodology for calculation was used from year to year.

What this chart shows: Median Family Income in the United States, Colorado & Larimer County - 2013

*HUD collects data for the Fort Collins/Loveland Metropolitan Statistical Area (MSA), which is used to represent Larimer County MFI in this chart.

Data Source: United States Department of Housing and Urban Development

See data table

What this table shows: Median Family Income Levels by Household Size, Larimer County* - 2013

Number of Persons per Household

Median (100%)

Extremely Low Income (30% AMI)

Very Low Income
(50% AMI)

Low Income (80% AMI)

1

$53,060 $15,900 $26,550 $42,450

2

$60,640 $18,200 $30,300 $48,500

3

$68,220 $20,450 $34,100 $54,600

4

$75,800

$22,750 $37,900 $60,650

5

$81,864 $24,550 $40,950 $65,500

6

$87,928 $26,400 $43,900 $70,350

7

$93,992 $28,200 $47,000 $75,200

8

$100,283 $30,100 $50,150 $80,250

*HUD collects data for the Fort Collins/Loveland Metropolitan Statistical Area (MSA), which is used to represent Larimer County MFI in this table.

Data Source: United States Department of Housing and Urban Development

What the above data tell us:

Median Family Income is used by the Department of Housing and Urban Development (HUD) to determine eligibility for HUD's assisted housing programs. Income limits are adjusted for family size (see Family Size Adjustments).

In 2007, Median Family Income (MFI) estimates were calculated differently from previous years. This was the first time that data gathered from the 2005 American Community Survey 1-Year Estimates were used.

Once 3-Year and 5-Year Estimates were released, MFI estimates were calculated based on those compiled surveys. In addition, a decision was made at the end of 2011 to calculate and publish MFI estimates in December each year. The 2006-2010 American Community Survey 5-Year Estimates had not yet been released by that time, so data from the 2005-2009 American Community Survey 5-Year Estimates were used two years in a row.

Caution should be used in making comparisons from year to year because of the differences in the underlying surveys. For more information on the methodology used to calculate the estimates, see FY 2013 HUD Income Limits Briefing Material. [pdf]

What this chart shows: Median Family Income in Larimer County, 2007 - 2011

Data Source: U.S. Census Bureau, American Community Survey (Table CP-03)

See data table

What the above data tell us:

According to the American Community Survey, Median Family Income (MFI) in Larimer County decreased 3.5% between 2007 and 2011 when adjusted for inflation. In comparison, MFI in the United States decreased 7.3% and 5.6% in Colorado.

What this chart shows: Median Family Income for Boulder, Larimer, Mesa, Pueblo & Weld Counties, 2007-2011

 

Data Source: U.S. Census Bureau, American Community Survey (Table CP-03)

See data table

What the above data tell us:

According to the American Community Survey, Median Family Income (MFI) dropped the most in Mesa County (-10.7%) of the five counties shown above between 2007 and 2011 when adjusted for inflation. MFI dropped the least in Pueblo County (-0.6%).

In 2011, Pueblo County had the lowest MFI ($53,277) and Boulder County had the highest ($93,017).

What this chart shows: Median Family Income in Larimer County Cities & Towns, 2007-2011 American Community Survey 5-Year Estimates

Data Source: United States Census Bureau (Table B19113)

See data table

What the above data tell us:

According to the 2007-2011 American Community Survey 5-Year Estimates, Median Family Income in Larimer County's cities and towns ranged from a low of $57,569 in LaPorte to a high of $105,000 in Timnath. Both communities have relatively low populations, so these numbers are likely skewed.

Additional Information:

Family Size Adjustments

The statutory guidance governing income limits requires that income limits are to be higher for larger families and lower for smaller families. The same family size adjustments are used for all income limits. They are as follows:

Number of Persons in Family and Percentage Adjustments:

1

2

3

4

5

6

7

8

70%

80%

90%

Base

108%

116%

124%

132%

For each person in excess of eight, 8% of the four-person base should be added to the eight-person income limit. (For example, the nine-person limit equals 140% [132 + 8] of the relevant four-person income limit.) Income limits are rounded to the nearest $50. Return to text


Related Information on COMPASS -

Other Resources -

Data Tables:

Median Family Income* - United States, Colorado, & Larimer County

United States

Colorado

Larimer County

1990

$35,225 $35,930 $36,931

2000

$49,600 $55,883 $58,886

2001

$52,500 $57,700 $58,200

2002

$54,400 $61,500 $60,800

2003

$56,500 $62,200 $64,800

2004

$57,500 $63,500 $66,500

2005

$58,000 $65,400 $69,200

2006

$59,600 $65,400 $68,600

2007

$59,000 $66,000 $68,200

2008

$61,500 $67,900 $75,000

2009

$64,000 $71,000 $75,200

2010

$64,400 $71,000 $74,900

2011

$64,200 $73,100 $76,700

2012

$65,000 $74,100 $77,700

2013

$64,400 $72,100 $75,800

*Caution should be taken in comparing the above numbers from year to year
due to a change in methodology. They are provided for historical purposes only and have not been adjusted for inflation.

See chart

Median Family Income - Boulder, Larimer, Mesa, Pueblo & Weld Counties

Boulder

Larimer

Mesa

Pueblo

Weld

2007

$91,801 $73,221 $66,546 $53,583 $65,634

2008

$94,157 $75,736 $68,843 $50,716 $66,874

2009

$89,864 $75,977 $65,585 $51,685 $68,032

2010

$88,851 $73,563 $59,550 $49,534 $64,713

2011

$93,017 $70,682 $59,447 $53,277 $59,610

See 'MFI in Larimer County' chart

See 'MFI in Five Colorado Counties' chart

Median Family Income - Larimer County Cities & Towns

2007-2011 American Community Survey 5-Year Estimates

Berthoud

$80,052

Estes Park

$70,156

Fort Collins

$74,313

LaPorte

$57,569

Loveland

$66,567

Red Feather Lakes

$65,391

Timnath

$105,000

Wellington

$72,860

See chart