Source for Estimated Median Family Income Data

While searching for data sources for a project, I stumbled on a source for current estimates of Median Family Income (MFI) at the Census tract level. Below I've posted a description of this data source as well as a challenge to the blog readers.

The data uses normalized Census 2000 data to calculate the estimates based on the current Department of Housing and Urban Development’s Median Family Income estimates (HUD) of the metro area. The data is hosted by the Federal Financial Institutions Examination Council (FFIEC). The formula for these estimates is as follows,

2009 Tract MFI = 2009 HUD estimated MFI for the Metro area X Tract MFI percentage (calculated),
where Tract MFI percentage = Census 2000 tract MFI / 2004 statewide MFI

To access this data for the tracts in your county, you may visit the FFIEC’s Census Report tool.

Because the formula is based largely on Census 2000 figures, the estimates would likely not accurately represent the MFI for tracts that have seen significant change. I've yet to compare the estimates to other private data sources, so if you’d like to see how these numbers compare to others for your area, post a comment making that request and I’ll run the numbers for the County with the most requests.

Lastly, if you are looking for MFI for a grant, more than likely you’ll have to stick with the Census 2000 numbers or the new American Community Survey estimates (currently only available for geographies of over 20,000).

Chris Ramser