The answer, it turns out, is not so simple.
Posted by VLC Media on Monday, December 19, 2016 | 8 CommentsOriginally posted by The VLC Community – Sydney, NSW, AustraliaThe VLC team of experts has identified the 10 worst places to live, based on the median household income of the states and territories.
The researchers say their findings have implications for the way in which residents are treated, and that they could have an impact on how they choose to spend their money.
“The top 10 places to have a median income are all states and the territories, which means that people are living on the margin,” VLC Senior Researcher and Chief Technology Officer Paul Hogg said.
“That’s one of the reasons why it’s such a bad idea to live at the bottom of the totem pole, and the top 10 are very much representative of the state and territory communities, and therefore the population.”
What is median income?
In a nutshell, it is the income at which people would have to live to make ends meet.
It is often expressed as a percentage of the median income in a state, territory or country.
The researchers used Census data to calculate the median salary in each state, but were able to use other information, such as median household size and median age.
They then compared this to a range of other data sources including median wages in the United Kingdom, median income and median hours worked in Australia.
To ensure their analysis is fair, the VLC researchers excluded people from the highest income brackets from their calculations.
While the study does not factor in income from capital gains, it does note that in Australia, capital gains are excluded from income calculations.
For example, people in the lowest income bracket make just $22,300 a year.
According to the researchers, a median salary of $25,500 is the minimum to afford a home in most states and territory.
If a household is earning less than this, the median incomes of those earning more than $50,000 are excluded.
In some states, such the Northern Territory, median household incomes are below $50.
The study was based on Census data from December 2016 and the results were released by the VLCC on Tuesday, December 20, 2016.
Topics:government-and-politics,community-and_society,people,internet-technology,internetculture,media,australiaFirst posted December 20, 2017 17:06:16More stories from New South Wales