Wednesday, July 11, 2012

Are owners of the burned homes 'rich'?

Posted By on Wed, Jul 11, 2012 at 1:44 PM

Much has been said about the financial well-being of the people whose homes in the Mountain Shadows area burned down June 26, when the Waldo Canyon Fire spread into the city.

In today's Indy, columnist John Hazlehurst makes the statement, "They're not rich."

But since the term "rich" can mean one thing to one person, and quite another to someone else, we decided to consult the U.S. Census Bureau for some empirical data.

According to the 2010 Census, the median household income in Colorado Springs was $53,074. That means that half the households here make less, and half make more, than that.

The census tract that covers the Mountain Shadows area is No. 37.07. Another neighboring tract to the east might also be considered part of the area, but we believe most of the homes lost in the fire were located within the 37.07 tract.

The median income in Census Tract 37.07 was $81,012, but Census officials give a fairly wide margin of error, making the range $68,671 to $93,353.

When compared with the median household income of the city as a whole, those living in Census Tract 37.07, which includes Mountain Shadows, have a median household income that ranges from 29 percent more than the city's as a whole to 76 percent more.

So, does that make them rich? You decide.

Here's the Census map:

Colorado Springs Waldo Canyon Fire

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