Data Dictionary: ACS 2005 -- 2007 (3-Year Estimates)
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Data Source: U.S. Census Bureau
Table: C25121. Household Income In The Past 12 Months (In 2007 Inflation-Adjusted Dollars) By Value [31]
Universe: Universe: Owner-occupied housing units
Relevant Documentation:
Excerpt from: Social Explorer; U.S. Census Bureau; 2005-2007 American Community Survey 3-Year Summary File: Technical Documentation.
 
Income of Households
This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one person, average household income is usually less than average family income. Although the household income statistics cover the past 12 months, the characteristics of individuals and the composition of households refer to the time of interview. Thus, the income of the household does not include amounts received by individuals who were members of the household during all or part of the past 12 months if these individuals no longer resided in the household at the time of interview. Similarly, income amounts reported by individuals who did not reside in the household during the past 12 months but who were members of the household at the time of interview are included. However, the composition of most households was the same during the past 12 months as at the time of interview.
Excerpt from: Social Explorer; U.S. Census Bureau; 2005-2007 American Community Survey 3-Year Summary File: Technical Documentation.
 
Adjusting Income for Inflation
Income components were reported for the 12 months preceding the interview month. Monthly Consumer Price Indices (CPI) factors were used to inflation-adjust these components to a reference calendar year (January through December). For example, a household interviewed in March 2007 reports their income for March 2007 through February 2007. Their income is adjusted to the 2007 reference calendar year by multiplying their reported income by 2007 average annual CPI (January-December 2007) and then dividing by the average CPI for March 2006-February2007.
In order to inflate income amounts from previous years, the dollar values on individual records are inflated to the latest years dollar values by multiplying by a factor equal to the average annual CPI-U-RS factor for the current year, divided by the average annual CPI-U-RS factor for the earlier/earliest year.
Excerpt from: Social Explorer; U.S. Census Bureau; 2005-2007 American Community Survey 3-Year Summary File: Technical Documentation.
 
Value
The data on value (also referred to as "price asked" for vacant units) were obtained from Housing Question 19 in the 2007 American Community Survey. The question was asked at housing units that were owned, being bought, vacant for sale, or sold not occupied at the time of the survey. Value is the respondent's estimate of how much the property (house and lot, mobile home and lot, or condominium unit) would sell for if it were for sale. If the house or mobile home was owned or being bought, but the land on which it sits was not, the respondent was asked to estimate the combined value of the house or mobile home and the land. For vacant units, value was the price asked for the property. Value was tabulated separately for all owner-occupied and vacant-for-sale housing units, as well as owner-occupied and vacant-for-sale mobile homes.
Adjusting Value for Inflation
Since value collected before 2007 is the only dollar amount captured on the questionnaire in specified intervals, the category boundaries for previous years are not adjusted for inflation. In the comparison profiles, however, the median value is adjusted for inflation by multiplying a factor equal to the average annual CPI-U-RS factor for the current year, divided by the average annual CPI-U-RS factor for the earlier/earliest year.
Median and Quartile Value
The median divides the value distribution into two equal parts: one-half of the cases falling below the median value of the property (house and lot, mobile home and lot, or condominium unit) and one-half above the median. Quartiles divide the value distribution into four equal parts. Median and quartile value are computed on the basis of a standard distribution. (See the "Standard Distributions" section under "Derived Measures.") Median and quartile value calculations are rounded to the nearest hundred dollars. Upper and lower quartiles can be used to note large value differences among various geographic areas. (For more information on medians and quartiles, see "Derived Measures.")
Aggregate Value
To calculate aggregate value, the amount assigned for the category "Less than $10,000" is $9,000. The amount assigned to the category $1,000,000 or more" is $1,250,000. Aggregate value is rounded to the nearest hundred dollars. (For more information on aggregates, see " Derived Measures .")

Question/Concept History
The 1996-1998 American Community Survey question provided a space for the respondent to enter a dollar amount. Since 1999, the American Community Survey question provided 19 pre-coded response categories from "Less than $10,000" to "$250,000 or more - Specify" . Starting in 2004, value was shown for all owner - occupied housing units. In previous years (1996-2003), it was shown only for specified owner-occupied housing units.