household income

Definition

Total income from all people living in a particular household. Income refers not only to the salaries and benefits received but also to receipts from any personal business, investments, dividends and other income. Furthermore, household members do not need to be related to be part of a household. Household income is often used as an economic indicator.

Use household income in a sentence

  • The survey asked me for my household income and I neglected to answer because I was not comfortable disclosing that information.

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  • When trying to set the price on your product you need to accurately forecast the household income of your target customer.

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  • As soon as my kid turns sixteen, I'm going to find him a job so that he can provide toward my household income, and maybe I'll be able to retire before I get to ninety years old!

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