Random musings of one Columbian, a place to connect and to learn more about issues and events in Howard County. If you would like to have me blog on an issue, organization or an upcoming community service event email me at email@example.com
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Thursday, January 12, 2012
I bet you are in the top 1%
We have heard a great deal the past few months about the top 1%. This usually refers to the top 1 % of households by income in the United States. To be in the top 1% by income in the United States you would need an annual household income of $350,000 or above. I wasn't able to find out what income you would need to be in the top 1% for Howard County residents but I might calculate it this way. The median household income in Howard County is $101,000 which is a little more than 3 times the median income for households in the United States. I know that it is an imprecise way of estimating but that would make the top 1% in Howard County at a little more than 3 times the median for the United States or over $1,000,000 a year household income. There are approximately 104,000 households in Howard County so there would be 1,040 households in Howard County with an annual household income over $1,000,000 a year.
So where would most of us be in the top 1%? The median annual income for the world population is $31,000. That would put most of us in the top 1%.