Median family income (MFI) is calculated annually by the U.S. Department of Housing and Urban Development (HUD) to help set income limits that determine eligibility for assisted housing programs. HUD uses the median income from the American Community Survey (ACS) as a baseline and then factors in the national consumer price index and other variables to establish an area MFI. 

It is important to note that median family income is calculated differently than median household income. The U.S. Census Bureau defines a family as, "a group of two people or more (one of whom is the householder) related by birth, marriage, or adoption and residing together." On the other hand, a household consists of "all the people who occupy a housing unit," which includes individuals, families, and unrelated people living together. Median family income is typically higher than median household income.

Austin's median family income was $110,300 for Fiscal Year (FY) 2022, which has been primarily increasing over time.

The median family income in the Austin-Round Rock Metropolitan Statistical Area (MSA) has primarily increased throughout the reporting period (minimum: $73,200 in FY 2013; maximum: $110,300 in FY 2022). The median family income for the Austin-Round Rock MSA is consistently higher than that of the United States, which was $90,000 in FY 2022.

Note: To see the underlying data for this chart, please select the "View Source Data" link to the left.