Census released new income numbers

[JoeBankrupt33]

The census just released data for median income by family size. I can't find the data for a single earner. Many of these represent a decrease from the previous median income numbers used for the means test.

So, if you are contemplating bankruptcy and are near the median, you may want to look at these numbers to see if you want to file soon or wait until the numbers offically update in/around October.


State Family Size
2-person 3-person 4-person

Alabama $48,278 $55,503 $64,383
Alaska $77,070 $85,663 $84,137
Arizona $58,594 $64,618 $68,949
Arkansas $44,818 $50,056 $57,289
California $67,645 $73,507 $80,394
Colorado $65,268 $70,835 $81,834
Connecticut $74,878 $87,064 $100,341
Delaware $62,038 $71,480 $86,961
District of Columbia$80,154 $80,154 $80,154
Florida $53,894 $59,719 $68,523
Georgia $56,295 $61,807 $68,393
Hawaii $69,456 $77,490 $90,351
Idaho $51,798 $56,284 $59,955
Illinois $61,706 $71,960 $81,009
Indiana $53,281 $60,439 $70,552
Iowa $55,585 $63,603 $71,836
Kansas $57,345 $64,272 $71,699
Kentucky $46,887 $54,876 $63,370
Louisiana $49,136 $54,020 $66,068
Maine $53,183 $63,060 $69,374
Maryland $75,555 $86,689 $101,023
Massachusetts $72,294 $84,862 $97,727
Michigan $53,336 $61,387 $73,529
Minnesota $63,489 $74,617 $85,540
Mississippi $43,214 $47,820 $57,113
Missouri $52,087 $60,107 $69,661
Montana $52,064 $57,704 $65,594
Nebraska $56,574 $65,656 $71,186
Nevada $62,468 $69,786 $73,149
New Hampshire $65,476 $81,655 $92,398
New Jersey $74,730 $87,029 $102,495
New Mexico $51,342 $53,172 $57,197
New York $61,189 $71,027 $81,899
North Carolina $53,175 $57,580 $66,252
North Dakota $53,381 $62,584 $74,513
Ohio $53,250 $61,735 $72,735
Oklahoma $50,396 $55,448 $62,193
Oregon $56,406 $64,303 $71,481
Pennsylvania $55,227 $68,443 $76,565
Rhode Island $63,971 $78,941 $85,350
South Carolina $51,881 $55,364 $64,565
South Dakota $54,799 $62,192 $68,022
Tennessee $49,319 $54,093 $63,082
Texas $57,104 $60,229 $66,554
Utah $57,814 $62,193 $70,396
Vermont $58,486 $64,419 $72,199
Virginia $66,856 $74,597 $85,052
Washington $65,803 $73,037 $82,524
West Virginia $43,468 $51,819 $57,940
Wisconsin $58,421 $67,799 $79,075
Wyoming $61,412 $64,617 $74,785

[nc73]

OH I'm pretty safe still, what only making less than half the median income and all. That's what I get for living in the UK.

[adviceplease]

That sucks it is down about $1900 for our state which puts us about $800 over so hopefully it will not mess things up.

[Ann]

Mine is worse.. down 2800.00! Are these figures going to be used for sure? I mean is this what they will go by?

[crashzx]

Oh hell ...with my 2 minor children it puts me in the 4-person and WAYY under. No worries.

[JoeBankrupt33]

Ann,

When they release the new numbers in October, they use the census. When I was looking this info up in the past (bk numbers vs census), they always match in Oct. Then, around February/March, they are adjusted again by the change in the consumer price index (CPI).

Unfortunately, we are on track to have a lower CPI this year, and if that happens, everyone's medians will decrease in Feb/Mar.

AdvicePlease: To ease your hassles, you should file before these changes take effect.

[tdawg]

it looks like Washington state numbers will increase, right?

The census just released data for median income by family size. I can't find the data for a single earner. Many of these represent a decrease from the previous median income numbers used for the means test.

So, if you are contemplating bankruptcy and are near the median, you may want to look at these numbers to see if you want to file soon or wait until the numbers offically update in/around October.


State Family Size
2-person 3-person 4-person

Alabama $48,278 $55,503 $64,383
Alaska $77,070 $85,663 $84,137
Arizona $58,594 $64,618 $68,949
Arkansas $44,818 $50,056 $57,289
California $67,645 $73,507 $80,394
Colorado $65,268 $70,835 $81,834
Connecticut $74,878 $87,064 $100,341
Delaware $62,038 $71,480 $86,961
District of Columbia$80,154 $80,154 $80,154
Florida $53,894 $59,719 $68,523
Georgia $56,295 $61,807 $68,393
Hawaii $69,456 $77,490 $90,351
Idaho $51,798 $56,284 $59,955
Illinois $61,706 $71,960 $81,009
Indiana $53,281 $60,439 $70,552
Iowa $55,585 $63,603 $71,836
Kansas $57,345 $64,272 $71,699
Kentucky $46,887 $54,876 $63,370
Louisiana $49,136 $54,020 $66,068
Maine $53,183 $63,060 $69,374
Maryland $75,555 $86,689 $101,023
Massachusetts $72,294 $84,862 $97,727
Michigan $53,336 $61,387 $73,529
Minnesota $63,489 $74,617 $85,540
Mississippi $43,214 $47,820 $57,113
Missouri $52,087 $60,107 $69,661
Montana $52,064 $57,704 $65,594
Nebraska $56,574 $65,656 $71,186
Nevada $62,468 $69,786 $73,149
New Hampshire $65,476 $81,655 $92,398
New Jersey $74,730 $87,029 $102,495
New Mexico $51,342 $53,172 $57,197
New York $61,189 $71,027 $81,899
North Carolina $53,175 $57,580 $66,252
North Dakota $53,381 $62,584 $74,513
Ohio $53,250 $61,735 $72,735
Oklahoma $50,396 $55,448 $62,193
Oregon $56,406 $64,303 $71,481
Pennsylvania $55,227 $68,443 $76,565
Rhode Island $63,971 $78,941 $85,350
South Carolina $51,881 $55,364 $64,565
South Dakota $54,799 $62,192 $68,022
Tennessee $49,319 $54,093 $63,082
Texas $57,104 $60,229 $66,554
Utah $57,814 $62,193 $70,396
Vermont $58,486 $64,419 $72,199
Virginia $66,856 $74,597 $85,052
Washington $65,803 $73,037 $82,524
West Virginia $43,468 $51,819 $57,940
Wisconsin $58,421 $67,799 $79,075
Wyoming $61,412 $64,617 $74,785

If I'm reading this correctly, then for a family of 3, the new median for Washington state is $73,037. From the following site, for a family of 3, the existing median in Washington state is $69,577:

http://www.usdoj.gov/ust/eo/bapcpa/20090315/bci_data/median_income_table.htm

So, this means the median will be INCREASING in Washington state, right? Which would mean these changes will benefit filers in Washington state.

[JoeBankrupt33]

Yes, it looks like WA has a good size increase for 3 person families, but only a very minor increase for 4 person families.

[kenshirley]

I thought history shows that the dollar amounts can change almost anytime?

[jennordhavn]

CA has also increased. I know for a fact that even though the amounts seem high, it's hard to support a family of 4 on my salary of about $70k/yr. We are very frugal with most stuff and hardly do any outings or activities either.

[JoeBankrupt33]

Ken,

There are supposed to be 2 updates a year. One for the new census numbers and one for consumer price index adjustment. I took a look at all the data available since 05, and here's what I found:

10/17/05 - census numbers
2/13/06 - cpi adjustment
10/1/06 - census numbers
2/1/07 - cpi adjustment
10/15/07 - census numbers
1/1/08 - no change to 10/15/07
2/1/08 - cpi adjustment
3/17/08 - no change to 2/1/08
10/1/08 - census numbers
3/15/09 - cpi adjustment
10/??/09 - ?????????

So, if you remove the 2 that were no change, then we are down to 2 adjustments a year.

I just want to arm people with the info they will need as soon as possible.

[optimistic1]

where did you obtain the data from? it is not on the usdoj/bapcpa website, it wont reflect until Oct.1st?

[optimistic1]

where did you obtain the data from? it is not on the usdoj/bapcpa website, it wont reflect until Oct.1st?

cant find it on the census bureau website, is there somewhere I am not looking? Let me in on your secret.

[ItsJustMe]

CA has also increased. I know for a fact that even though the amounts seem high, it's hard to support a family of 4 on my salary of about $70k/yr. We are very frugal with most stuff and hardly do any outings or activities either.

Word. We are right at the limit ($80K) and it's hard to support a family on that! Our mortgage alone (on a very modest home in the suburbs) was $3300 (pre-hopeful-modification).

[momisery]

So, the median incomes have dropped for many, so more will be filing because of the income drops, but in the sheer wisdom of our courts they think we can not make it on less???? With higher bills of course????? Figures. Just because incomes drop doesn't mean prices do, infact your bills are pretty much set so if your income drops you will be in trouble. I guess the courts need to fill some seats with average working people so they will understand economics, because they don't.