The median money income of all families in 1970 was about $9,870. This was about $440 or 4.6 percent higher than the 1969 median of $9,430. However, prices rose approximately 5.9 percent in 1970 and in terms of constant dollars, median family income in 1970 was about the same as in 1969.1
In 1970, the median income of families of Negro and other races was $6,520; a gain of $330 or 5.3 percent over the median in 1969. This rate of increase was not significantly different from the rate for all families. The median income of families of Negro and other races was 64 percent of the median for white families ($10,240) in 1970 not significantly different from the ratio in 1969.
Of the 51.9 million families in the United States, 8.9 percent received incomes below $3,000 in 1970. There were 5.3 million families with incomes between $3,000 and $5,000; another 6.1 million, or 11.8 percent, had incomes between $5,000 and $7,000; and 10.3 million families had incomes between $7,000 and $10,000. The number of families with incomes of $10,000 or more increased from 23.6 million families, or 45.9 percent, in 1969 to 25.5 million families, or 49.1 percent, in 1960.
1 See Monthly Labor Review, April 1971, U.S. Department of Labor, table 24, page 105.
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