Average household income really $900k?

[285kph]

? feeling poor. But seriously, average income at that level makes no sense at all.

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[Tay Tay]

That's about right from what I see in Pacific heights. There are 10-20 in the area alone and Marin Porsche is selling more than any other dealer in the nation I believe. Average income here is around $1m but actually much much higher due to the fact that many here don't take any traditional income at all. I'm right there for the average according to this, and near the bottom of the neighborhood.

This says average in Pacific Heights is $176k… what’s the discrepancy?
https://www.point2homes.com/US/Neig...n-Francisco/Pacific-Heights-Demographics.html

 

[riburn3]

I could see it being net worth and not annual gross income being 900k. Although Bill Gates buying one really hurts the average haha.

I would imagine it also depends a lot on trim. The person buying a Turbo S is likely a lot better off than someone buying a Base model. It's not too common for cars in a single model range to be able to triple up their price point.

 

[Chris8536]

This says average in Pacific Heights is $176k… what’s the discrepancy?
https://www.point2homes.com/US/Neig...n-Francisco/Pacific-Heights-Demographics.html

Many many of the wealthy here don't have income. Or to put it in better context, with the average single family home being 5 million+, ain't no one making under a few million living here. Public stats don't really capture the right data for places like this.

 

[chenner]

This is Fox News folks. Fact checking and basing information off of facts has never been part of their process.

They're probably just trying to create more rage among their audience lol

 

[Reg]

I am curious as to how they estimated this since I was never asked nor would they have any way to know what my income is. Unless you are financing through them, how would they?

 

[Chris8536]

I am curious as to how they estimated this since I was never asked nor would they have any way to know what my income is. Unless you are financing through them, how would they?

They ask… I received a survey and this was one of the questions.

 

[gnop1950]

? feeling poor. But seriously, average income at that level makes no sense at all.

You aren't the only one. Although I live in an area with a lot lower cost of living I've never approached that level of income. Now I'm feeling poor as well :-(

 

[Jhenson29]

Guys, I can confirm this.

I just googled it and the first result also says average is $900k.

Looks like the source is well known too.

 

[dardleflom]

That's about right from what I see in Pacific heights. There are 10-20 in the area alone and Marin Porsche is selling more than any other dealer in the nation I believe. Average income here is around $1m but actually much much higher due to the fact that many here don't take any traditional income at all. I'm right there for the average according to this, and near the bottom of the neighborhood.

Hah! Yes, there's usually a Taycan or two parked near my office on Fillmore Street. And sometimes one takes my favorite spot just in front of the Peets. Although I would never street park mine for fear of getting curb-rash on the rims.

I think median income would be a better indicator here than mean. I have a few billionaire friend types who have a Taycan in every city they have a house in.

And yes the type of people who live in Pac Heights don't take ordinary income because the tax treatment is so bad. Most just borrow from accounts secured by their post-IPO or just-prior-to IPO stock. And FWIW a lot of my wealth is tied up in paper gains.

 

[RobbieRed]

I wish! Wouldn’t mind betting I’m one of the lowest income owning Porsche drivers! ?
But, hey, who cares- life’s for living and if I didn’t have a Porsche all I’d have is money in the bank, doing nothing - what’s the point in that?!! ???

 

[bj33813]

I could see it being net worth and not annual gross income being 900k.

I would agree with that. Otherwise hide your cars folks as the IRS will use the car as a target lol.

 

[Reg]

They ask… I received a survey and this was one of the questions.

do you remember what the top income bracket was?

 

[menzz]

Wasn’t there a poll done on this forum for this?

 

[Chris8536]

do you remember what the top income bracket was?

900 or 1m I forget. Went a lot higher than the normal ones I see that all stop at 250k

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