In Karingal, 7% of households earned an income of $2,500 or more per week in 2011.
Households form the common 'economic unit' in our society. Karingal's Household Income is one of the most important indicators of socio-economic status. With other data sources, such as Qualifications and Occupation, it helps to reveal the economic opportunities and socio-economic status of Karingal. It is important to note that income data is not necessarily a measure of wealth. For example, if an area has a large number of retirees this will produce a higher proportion of households with low income but the retirees may have large capital wealth. For this reason, household income should be viewed in conjunction with Age and Household Composition.
The incomes presented on this page are for the latest Census year only. For comparison of incomes over time, go to Household Income Quartiles.
Derived from the Census question:
'What is the total of all wages/salaries, government benefits, pensions, allowances and other income the person usually receives?'
|Weekly household income|
|Weekly income||Number||%||Frankston City %|
|Negative Income/Nil Income||61||1.2||1.1||28001|
|$5000 or more||12||0.2||0.5||28017|
Source: Australian Bureau of Statistics, Census of Population and Housing (opens a new window) 2011. Compiled and presented in profile.id by .id (opens a new window), the population experts.
Compiled and presented in profile.id by .id, the population experts.
Analysis of household income levels in Karingal in 2011 compared to Frankston City shows that there was a smaller proportion of high income households (those earning $2,500 per week or more) and a higher proportion of low income households (those earning less than $600 per week).
Overall, 6.6% of the households earned a high income and 26.1% were low income households, compared with 11.7% and 21.7% respectively for Frankston City.
The major differences between the household incomes of Karingal and Frankston City were:
- A larger percentage of households who earned $600-$799 (11.5% compared to 9.2%)
- A larger percentage of households who earned $300-$399 (8.7% compared to 6.8%)
- A smaller percentage of households who earned $2000-$2499 (6.0% compared to 8.7%)
- A smaller percentage of households who earned $2500-$2999 (3.7% compared to 5.9%)