The median household income in Covington in 2009 was $38,700. By 2022, that number had grown to $53,800 – an increase of $15,100. Other Kentucky cities of similar size – such as Bowling Green, Elizabethtown, Hopkinsville, Owensboro, and Richmond – showed similar growth in that 13-year period, according to data from the American Community Survey (ACS) from the U.S. Census Bureau.
Why is this important? Household income not only improves an individual family’s buying power but is also considered a valuable measure of the relative economic well-being of a city. (Note that “household income” is defined as the total gross income before taxes that is received within a 12-month period by all members of a household, aged 15 or older, including spouses, their dependents, and non-relatives.)
