Home Restaurant Free Restaurant Business Plan 4.4 Estimated Households by Income Class
4.4 Estimated Households by Income Class
When we compare the income profile of the residents of Westchester County, NY versus New York State a very clear picture emerges. About 16% of the resident population reports an income of between $100k and $150k compared to the State average of 13%. About 8.8% of the population reports income of between $150k and $250k compared to the state average of 5%. Even on the lower end of the income spectrum we find that the State average income of less than $10k is reported by 8.3% compared to 4.7% in Westchester. The income bracket of $15k to $25k has 10% statewide – in Westchester that number is only 6.9%. It is clear from these comparisons that resident population of Westchester has higher income than New York State in general.
While it may seem that having a higher income is good for Westchester residents, they also pay the highest property tax rates in the nation. The median home in Westchester costs $789k versus $217k for the national average and consequently 58% of Westchester residents own homes versus 65% for the national average. Housing vacancies however stand at 3.50% in Westchester versus the State average of 9% - a very significant difference.
Quick Links:
- Go to the Corresponding Template section for this industry.
- Go to the Corresponding Questionnaire section for this industry.
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