Peer regions were chosen for their comparable size and composition. These same regions have been used for comparison in multiple other studies and reports.
Source: U.S. Census, 2012-2016 5-Year Estimate American Community Survey.
The jurisdictions in the CRC-footprint include: the City of Richmond, the Town of Ashland, and the Counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent, and Powhatan.
Source: U.S. Census Bureau, 2012-2016 American Community Survey 5-Year Estimates
* Includes the Town of Ashland
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Why It's Important
Median household income is a calculation of the middle income of households within a particular area or geography to avoid a small amount of high income or low income households influencing the average. This indicator is useful in measuring an area’s standard of living.
In the Richmond Region, median household income has increased from $60,936 to $61,124 since 2014.