Vineyard Household Income

HUD provides annual estimates of income for Dukes County residents based on household size. For 2005, HUD estimates median household income (based on a three-person household) at $60,400. Figure I.5 shows HUD’s calculation of income by household size for island residents earning 50% of median income (very low), 80% of median (low to moderate) and 120% of median (middle income).

From 2001 to 2005, HUD estimates incomes have risen at all income levels and household sizes by 17.7%, or 4.4% annually. This rise is consistent with increases in average wages. From 1980 to 2000, renter household income has risen 16.0% more slowly than owner household income on Martha’s Vineyard. While the HUD data assumes all income groups are rising equally, the consultant estimates that renter household income has actually risen at a lower 3.7% annual increase, reflecting this historic trend.

This is an excerpt from the Martha's Vineyard Housing Needs Update -- 2005
produced for the Island Affordable Housing Fund
by John J. Ryan — Development Cycles
July 2005