Data Dictionary:  ACS 2011 (5Year Estimates) 
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Survey: ACS 2011 (5Year Estimates)
Data Source:  Social Explorer; U.S. Census Bureau 
Universe: Families
Variable Details
T62.  Average Family Income (In 2011 Inflation Adjusted Dollars)  
Universe: Families  
T062_001Average Family Income (In 2011 Inflation adjusted dollars)
Percent base:
None  percentages not computed
Formula used to compute this variable:
if( ACS11_5yr:B19101001 == 0)
Return_Value.IsNull = true;
else
Return_Value = ACS11_5yr:B19127001 / ACS11_5yr:B19101001;
if (ACS11_5yr:B19101001.IsNull)
Return_Value.IsNull = true;
if (ACS11_5yr:B19127001.IsNull  ACS11_5yr:B19101001.IsNull)
Return_Value.IsNull = true;

Relevant Documentation:
Excerpt from:  Social Explorer; U.S. Census Bureau; American Community Survey 20072011 Summary File: Technical Documentation. 
The 20072011 ACS 5Year Summary File Technical Documentation > Appendix A. Supplemental Documentation > Subject Definitions > Population Variables > Income in the Past 12 Months > Mean Income 
Mean income is the amount obtained by dividing the aggregate income of a particular statistical universe by the number of units in that universe. For example, mean household income is obtained by dividing total household income by the total number of households. (The aggregate used to calculate mean income is rounded. For more information, see "Aggregate income.")
For the various types of income, the means are based on households having those types of income. For household income and family income, the mean is based on the distribution of the total number of households and families including those with no income. The mean income for individuals is based on individuals 15 years old and over with income. Mean income is rounded to the nearest whole dollar.
Care should be exercised in using and interpreting mean income values for small subgroups of the population. Because the mean is influenced strongly by extreme values in the distribution, it is especially susceptible to the effects of sampling variability, misreporting, and processing errors. The median, which is not affected by extreme values, is, therefore, a better measure than the mean when the population base is small. The mean, nevertheless, is shown in some data products for most small subgroups because, when weighted according to the number of cases, the means can be computed for areas and groups other than those shown in Census Bureau tabulations. (For more information on means, see "Derived Measures.")
For the various types of income, the means are based on households having those types of income. For household income and family income, the mean is based on the distribution of the total number of households and families including those with no income. The mean income for individuals is based on individuals 15 years old and over with income. Mean income is rounded to the nearest whole dollar.
Care should be exercised in using and interpreting mean income values for small subgroups of the population. Because the mean is influenced strongly by extreme values in the distribution, it is especially susceptible to the effects of sampling variability, misreporting, and processing errors. The median, which is not affected by extreme values, is, therefore, a better measure than the mean when the population base is small. The mean, nevertheless, is shown in some data products for most small subgroups because, when weighted according to the number of cases, the means can be computed for areas and groups other than those shown in Census Bureau tabulations. (For more information on means, see "Derived Measures.")
Excerpt from:  Social Explorer; U.S. Census Bureau; American Community Survey 20072011 Summary File: Technical Documentation. 
The 20072011 ACS 5Year Summary File Technical Documentation > Appendix A. Supplemental Documentation > Subject Definitions > Population Variables > Income in the Past 12 Months > Income of Families 
In compiling statistics on family income, the incomes of all members 15 years old and over related to the householder are summed and treated as a single amount. Although the family income statistics cover the past 12 months, the characteristics of individuals and the composition of families refer to the time of interview. Thus, the income of the family does not include amounts received by individuals who were members of the family during all or part of the past 12 months if these individuals no longer resided with the family at the time of interview. Similarly, income amounts reported by individuals who did not reside with the family during the past 12 months but who were members of the family at the time of interview are included. However, the composition of most families was the same during the past 12 months as at the time of interview.