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Thread: How has the income of Wayland residents changed in the last ten years?

  1. #1
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    Wayland MA
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    Default How has the income of Wayland residents changed in the last ten years?

    A lot of useful comparative data is updated every year--average teacher salaries, average tax bill, and the like. One set of metrics that isn't updated so often has to do with income--we see changes in those metrics only every ten years with the release of the census.

    There are three common income metrics:

    1. Household income: income for all households
    2. Family income: income for households with two or more related family members
    3. Per capita income: income per person (total town income divided by total town population)


    Relative to the following peer group, here's where we stand based on the latest census information: Acton, Brookline, Boxborough, Carlisle, Concord, Dover, Lexington, Lincoln, Needham, Sherborn, Sudbury, Wayland, Wellesley, Weston.

    1. Household income: Wayland ranks 8th at $130,643
    - We were 7th in 1999
    - Our percent growth from 1999 to 2009 (29%) ranks 7th

    2. Family income: Wayland ranks 8th at $152,574
    - We were 8th in 1999
    - Our percent growth from 1999 to 2009 (34%) ranks 7th

    3. Per Capita income: Wayland ranks 3rd at $68,211
    - We were 7th in 1999 (it's unclear why the large jump--perhaps more people living alone?)
    - Our percent growth from 1999 to 2009 (29%) ranks 3rd

    The overall conclusion is that there has been no real change in Wayland's average income relative to the peer towns in the last decade.
    Attached Files Attached Files

  2. #2
    Join Date
    Apr 2011
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    27

    Default Family Income - Median House Value - Boston Magazine School Ranking - 2010 Tax Rate

    Hi Jeff,

    I liked your table and wanted to add more towns and data to it and see how it looks. I am attaching the excel spreadsheet as I am not sure how the text format will look.

    The output is given below:


    2009 2009 % 1999 1999 Boston Magazine
    Median Median Change Median Median School Ranking 2010 Tax Monthly
    Family House in Median Family House 2010 2009 Rate (per Payment
    Town Income Value Value Income Value $1000)
    Weston $176,904 $993,100 34.3% $181,041 $739,200 1 1 $11.1 $5,349
    Dover $169,038 $973,900 64.3% $157,168 $592,700 2 2 $10.9 $5,231
    Sherborn $186,058 $787,000 60.2% $136,211 $491,200 2 2 $17.4 $4,655
    Lexington $152,052 $685,900 64.3% $111,899 $417,400 3 4 $13.9 $3,853
    Wellesley $166,815 $893,700 63.1% $134,769 $548,100 4 7 $10.5 $4,767
    Carlisle $170,134 $787,600 72.7% $142,350 $456,000 5 3 $14.6 $4,473
    Concord $157,538 $734,200 61.9% $115,839 $453,400 5 3 $13.1 $4,076
    Brookline $132,245 $670,200 11.8% $92,993 $599,500 7 13 $11.0 $3,602
    Wayland $152,574 $642,500 64.3% $113,671 $391,100 8 8 $17.8 $3,818
    Newton $137,449 $691,700 57.8% $105,289 $438,400 9 5 $10.4 $3,686
    Westwood $137,527 $629,900 74.7% $103,242 $360,600 11 15 $13.1 $3,496
    Sharon $135,234 $478,400 76.8% $99,015 $270,600 14 11 $17.9 $2,849
    Needham $146,408 $646,300 67.6% $107,570 $385,600 19 19 $10.5 $3,451
    Lincoln $131,887 $885,900 50.1% $87,842 $590,300 20 9 $11.5 $4,799
    Sudbury $157,778 $639,300 51.3% $130,399 $422,400 20 9 $16.1 $3,709
    Acton $136,019 $503,400 51.4% $108,189 $332,400 26 18 $17.1 $2,964
    MA $80,822 $357,600 92.6% $61,664 $185,700
    USA $62,363 $185,400 55.0% $50,046 $119,600

    Sources
    1 Mass.gov for property tax rate
    2 census.gov for median income and house value
    3 School Ranking from Boston Magazine
    4. Monthly payment is incorporating 20% down payment and 5.0% interest rate. It also includes property tax and insurance.

    Summary:
    We moved to Wayland last year and are very pleased with our decision. We are hoping that the new Superintendent can take Wayland School to Top 5 from Top 10. Also as assessed values improve, the tax rate comes down to a reasonable $15 per $1000. The lower tax rate will then translate to higher property values.
    Attached Files Attached Files
    Last edited by Nick Sawrikar; 04-05-2011 at 02:22 PM. Reason: Did not format well

  3. #3
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    Wayland MA
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    Default

    Here's MA DOR data on income per resident. (The data actually looks a lot more like income per capita--presumably it's average and not median.) Wayland ranks higher than it does in the lists earlier in this thread, 4th behind Weston, Dover, and Sherborn.

  4. #4
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    Default

    Quote Originally Posted by Jeff Dieffenbach View Post
    Here's MA DOR data on income per resident. (The data actually looks a lot more like income per capita--presumably it's average and not median.) Wayland ranks higher than it does in the lists earlier in this thread, 4th behind Weston, Dover, and Sherborn.
    Yes, we noted in the newsletter that this appeared to be income per household, but that was an error which I meant to delete before the newsletter went out -- this does appear to really be income per capita, though as you note, it is average and not median.

  5. #5
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    Default

    I don't see how Wayland per capita income can be $138k given that the census is reporting a number around $68k.

  6. #6
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    Default

    Quote Originally Posted by Jeff Dieffenbach View Post
    I don't see how Wayland per capita income can be $138k given that the census is reporting a number around $68k.
    The $68k figure is not labeled as median or average, so if we assume it's a median it's possible that the average could be considerably higher -- it's a little hard to imagine a 2:1 ratio in the average:median though. Certainly something isn't quite right... but the DOR data (used by the Globe) does provide a total income for the town and a number of residents from which it generates per capita income.

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