November 1, 2020
Median income is the amount that divides the income distribution into two equal groups:
- Half having income above that amount
- Half having income below that amount.
New Jersey has the highest median income in all 50 states.
- 1 earner = $71,064
- Family Size: *
- 2 = $87,432
- 3 = $111,046
- 4 = $132,708
Add $9,000 for each individual in excess of 4.
Median income is an important factor that I can work with you in determining not only the type of bankruptcy but also your eligibility.
If you would like to see the complete chart, go to: https://www.justice.gov/ust/eo/bapcpa/20201101/bci_data/median_income_table.htm