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# 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Albany County, NY (MHICILBNY36001A052NCEN)

Observation:

2020: 67,207
Updated: Dec 16, 2021

Units:

Dollars,
Not Seasonally Adjusted

Frequency:

Annual
1Y | 5Y | 10Y | Max

NOTES

Source: U.S. Census Bureau

Units:  Dollars, Not Seasonally Adjusted

Frequency:  Annual

#### Notes:

The U.S. Census Bureau provides annual estimates of income and poverty statistics for all school districts, counties, and states through the Small Area Income and Poverty Estimates (SAIPE) program. The bureau's main objective with this program is to provide estimates of income and poverty for the administration of federal programs and the allocation of federal funds to local jurisdictions. In addition to these federal programs, state and local programs use the income and poverty estimates for distributing funds and managing programs.

Household income includes income of the householder and all other people 15 years and older in the household, whether or not they are related to the householder. Median is the point that divides the household income distributions into two halves: one-half with income above the median and the other with income below the median. The median is based on the income distribution of all households, including those with no income.

A confidence interval is a range of values, from the lower bound to the respective upper bound, that describes the uncertainty surrounding an estimate. A confidence interval is also itself an estimate. It is made using a model of how sampling, interviewing, measuring, and modeling contribute to uncertainty about the relation between the true value of the quantity we are estimating and our estimate of that value. The "90%" in the confidence interval listed above represents a level of certainty about our estimate. If we were to repeatedly make new estimates using exactly the same procedure (by drawing a new sample, conducting new interviews, calculating new estimates and new confidence intervals), the confidence intervals would contain the average of all the estimates 90% of the time. For more details about the confidence intervals and their interpretation, see this explanation.

#### Suggested Citation:

U.S. Census Bureau, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Albany County, NY [MHICILBNY36001A052NCEN], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MHICILBNY36001A052NCEN, August 15, 2022.

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