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#2216869 - 07/02/19 02:54 PM Updating of Census Tract Income Levels
mgs41 Offline
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Posts: 167
Approximately when will the income levels of census tracts next change? I realize the distressed and underserved are updated annually, but wondering just about tract income.

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#2217164 - 07/08/19 07:26 PM Re: Updating of Census Tract Income Levels mgs41
mrogersfib Offline
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FFIEC usually releases the new data sets in August (Sometimes they are late).

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#2218463 - 07/25/19 07:18 PM Re: Updating of Census Tract Income Levels mgs41
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
Although the 2019 tract income classifications have not yet been published by the FFIEC there will be almost no changes from 2018 except for those areas where a MSA or MD was changed. For 2019 there are two new MSA's, one in NY and the other in Puerto Rico. In addition there were 2 new Metro Divisions created and 2 MD's removed. Here are the changes:

a. New Metropolitan Statistical Area: Poughkeepsie-Newburgh-Middletown, NY (MSA 39100, consisting of Dutchess County (027), Orange County (071)).
b. New Metropolitan Statistical Area: Yauco, PR (MSA 49500, consisting of Guánica Municipio (055), Guayanilla Municipio (059), Peñuelas Municipio (111), Yauco Municipio (153)).

a. New Metropolitan Division: Frederick-Gaithersburg-Rockville, MD (MD 23224, consisting of Frederick County, Montgomery County).
b. New Metropolitan Division: New Brunswick-Lakewood, NJ (MD 35154, consisting of Middlesex County, Monmouth County, Ocean County, Somerset County).
c. Remove Metropolitan Division: Dutchess County-Putnam County, NY (MD 20524, consisting of Dutchess County, Putnam County).
d. Remove Metropolitan Division: Silver Spring-Frederick-Rockville, MD (MD 43524, consisting of Frederick County, Montgomery County).

In addition, there have been some name and code changes, but they will not affect tract income classifications.
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#2218488 - 07/25/19 10:13 PM Re: Updating of Census Tract Income Levels mgs41
mrogersfib Offline
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Joined: Aug 2018
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I don't think it's fair to say that there will be almost no changes to the income tract designations Len S. Economically speaking our economy has had the lowest levels of unemployment in a very long time so it is fair to say that we could see a statistically change overall. Let's wait for the release before we speculate at the changes residing in the fog of data.

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#2218489 - 07/25/19 10:25 PM Re: Updating of Census Tract Income Levels mgs41
rlcarey Online
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rlcarey
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Galveston, TX
I would be very careful questioning Len, as he knows of what he speaks, more than a dozen of the rest of us put together smile
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#2218491 - 07/25/19 11:29 PM Re: Updating of Census Tract Income Levels mgs41
mrogersfib Offline
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Joined: Aug 2018
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While I recognize Lens seniority, I also intend not be confrontational, but also have to caution around making forward looking statements about the future state of data. When running all of the census tracts dating back to 2011 with regression modeling one can note that generally tracts are mirroring our economic indicators.

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#2218495 - 07/26/19 03:39 AM Re: Updating of Census Tract Income Levels mgs41
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
Don't forget that the statewide non-MSA also may be affected by the MSA and MD changes and so tracts in those areas may have their income class changed too. But based on the few MSA and MD changes announced for 2019 the only states where this may apply are the states containing the MSA's identified above.
Last edited by Len S; 07/26/19 03:43 AM.
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#2218496 - 07/26/19 03:44 AM Re: Updating of Census Tract Income Levels mgs41
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
The income class of census tracts is based on dividing the tract income by the income of the MSA or MD in which the tract is located. The income of the tracts and the MSA's is determined every 5 years ordinarily- with the decennial census and the 5-yr ACS (the tract income changes in those 5 year intervals too). The only other time the income of the MSA changes (but the tract income does not change) is when the MSA is changed by adding or eliminating counties that compose the MSA or MD. In those circumstances, since the income of the MSA (or MD) is affected by changes in the counties that make up the MSA the computations for the income class of all the tracts in the MSA or MD.must be recomputed. But in those circumstances (which apply to the 2019 MSA's and tracts) the only tracts whose income class may change are those tracts directly affected (by being incorporated into the MSA or removed from it - or tracts that are in the statewide non-MSA which may be affected by losing or gaining tracts affected by the changes in MSA's or MD's). That is why there are very few tract income classes that should change - the only ones should be those affected by the MSA and MD changes cited in my original posting.

Don't forget that the statewide non-MSA also may be affected by the MSA and MD changes and so tracts in those areas may have their income class changed too. But based on the few MSA and MD changes announced for 2019 the only states where this may apply are the states containing the MSA's and MD's identified above
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#2218522 - 07/26/19 03:13 PM Re: Updating of Census Tract Income Levels mgs41
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
Thanks for the compliment Randy! You're no slouch on many compliance issues and have offered valuable advice to many BOL readers for many years. It is an honor to be recognized by you. Thanks once again. Now that I am no longer a state senator I hope to be posting more frequently on BOL than I have in recent years.
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#2218523 - 07/26/19 03:14 PM Re: Updating of Census Tract Income Levels mgs41
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
I just received word from the folks I know at the Fed they expect to publish the annual FFIEC demographics at the end of August.
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