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Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group.
The U.S. Census Bureau calculates the median household income and median per capita income after getting the required data about the population and their total income. In 2011, the median household income dropped by 1.7% from $51,144 to $50,502. The median per capita income for the year 2011 stood at $41,560. The data for the year 2012 will be published by the U.S. Census Bureau this year. (All figures are in USD, and are for the year 2011. Figures have been adjusted for inflation.