Median Household Income in Corsicana, TX | Economic Insights for 2023
Understanding the Median Household Income in Corsicana, Texas
As the heart of Navarro County, Corsicana, Texas, boasts a rich tapestry of economic indicators that reflect the financial health of its residents. A critical component of this financial portrait is the median household income, a figure that tells a story of the community's economic vitality.
In the year 2021, the residents of Corsicana witnessed a significant upswing in their property values. The median property value in this Texan city climbed from $97,000 to an impressive $112,300 – a leap of 15.8%. When compared to the national average of $244,900, the median value of homes in Corsicana stands at a modest 0.459 times lower, illustrating a more affordable real estate market in this region of the Lone Star State.
The homeownership rate in Corsicana aligns closely with the pulse of the American dream, clocking in at 56.2%. This figure mirrors the broader national landscape, where 64.6% of Americans own their homes, encapsulating Corsicana's embodiment of typical American homeownership.
Delving into the daily rhythms of Corsicana's workforce, the average commute is a brisk 21.5 minutes, a testament to the city's manageable scale and accessible infrastructure. The primary mode of transportation? A solitary drive, a narrative that aligns with the American ethos of independence. This notion is further cemented by the fact that the average household in Corsicana has 2 cars, paralleling the national trend and pointing towards a community well-equipped for travel and commute.
Now, to address the central question: what is the median household income in Corsicana, Texas? The figure stands at a notable $45,121, painting a picture of the city's economic landscape. Notably, this income does not spread evenly across all areas of Corsicana. For instance, Census Tract 9702 leads with a median household income of $74,038, outpacing other tracts like 9708 and 9705, which have incomes of $48,864 and $45,062 respectively.
The variance in median income between the different tracts of Corsicana suggests a diverse economic fabric, with varying levels of prosperity and challenges. This diversity is crucial in understanding the economic health and potential areas of growth within Corsicana. For individuals considering a move to Corsicana or those looking to invest in the community, these figures provide a window into the area's economic stability and potential.
In summary, while Corsicana's median household income may be a simple number, it encapsulates the complex interplay of real estate, homeownership, and economic diversity that defines this Texas city. As of my latest update in 2021, these figures represent the most current economic snapshot of Corsicana, Texas – a city where the spirit of economic progress is very much alive and well.
Information provided by: Corsicana, TX | Data USA