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With more than 350,000 households in Indianapolis, it is not surprising that there is a wide disparity in household incomes. The median household income is $41,947 but many earn far below or above that. The chart shows how the incomes of Indianapolis households are distributed. A significant portion – 41.4 percent – of households earns less than $35,000 a year; 46.3 percent earn between $35,001 and $100,000; and 12.3 percent earn more than $100,000. How does this distribution compare? Indianapolis has a larger share of its population earning less than $35,000 than with the United States (36.5 percent) or Indiana (38.4 percent). It is important to remember that not all households are the same. A household can be a single person, for whom $35,000 might be an adequate income. Or it may be a family of four or more people who, with an income of $35,000, would have great difficulty making ends meet. Indianapolis has more single-person households than the state, but it also has a higher rate of poverty. |