Understanding the 01001 Zip Code: A Glimpse into the Average Income
The 01001 zip code, located in Springfield, Massachusetts, is a unique area with its own distinct characteristics. One of the most important aspects of any zip code is the average income of its residents. In this article, we will delve into the average income of the 01001 zip code and explore what it means for the community.
Average Income in 01001 Zip Code
According to the American Community Survey (ACS) 2019 estimates, the average household income in the 01001 zip code is $43,419. This figure is slightly lower than the national average of $67,149. However, it is essential to note that the cost of living in the 01001 zip code is relatively low compared to other parts of the country.
Income Distribution in 01001 Zip Code
The income distribution in the 01001 zip code is skewed, with a majority of households falling in the lower and middle-income brackets. According to the ACS, 44.6% of households have an income between $25,000 and $49,999, while 26.1% have an income between $50,000 and $74,999. Only 10.3% of households have an income above $100,000.
Demographics and Employment in 01001 Zip Code
The demographics of the 01001 zip code play a significant role in shaping the average income. The area has a diverse population, with a mix of young professionals, families, and retirees. The major industries in the area include healthcare, education, and government, which provide a stable source of employment.
Conclusion
In conclusion, the average income in the 01001 zip code is lower than the national average, but the cost of living is also relatively low. The income distribution in the area is skewed, with a majority of households falling in the lower and middle-income brackets. Understanding the average income and demographics of the 01001 zip code can provide valuable insights into the community's needs and opportunities.
