The median income in San Benito County was $3,000 greater than
the median income statewide in 2003 and $11,000 more than just nine
years ago, according to report released Monday by the state
franchise tax board.
Hollister – The median income in San Benito County was $3,000 greater than the median income statewide in 2003 and $11,000 more than just nine years ago, according to report released Monday by the state franchise tax board.
San Benito County’s 2003 median income was $35,059 – meaning half of the reported incomes in the county were
higher and half were lower – making it the 14th wealthiest county in the state for that year. The statewide median income was $32,242.
According to the report, the median income for households that filed joint tax returns for 2003 was $62,642 – ranking 12th in the state.
Between 1996 and 2003 San Benito County’s median income increased by $11,427 and $16,778 for joint filers, making the largest gains during the late 1990s with growth beginning to taper off in 2001 during the nationwide economic recession.
“It’s skewed from the influx of people who have moved in to the community,” said Al Martinez, executive director of the San Benito County Economic Development Corporation. “This place is attractive to people cashing out of big homes and jobs in the north, looking for a rural setting to live in.”
Also, Martinez said, newer San Benito County residents who commute to jobs in the Silicon Valley increase the county’s median income.
Though larger than the statewide figure, the county’s 2003 median income dropped about $300 from the prior year.
“When you compare that to drops other counties had in the past, I’d say its negligible,” said Howard Roth, chief economist for the state finance department. “It’s a bit surprising that it went down, because San Benito had strong increases in the past.”
Despite the small dip in 2003, San Benito County’s median income has been on an upward trend for about the last six years, although the rate at which incomes increased was smaller each year. The largest increase was in 1997-98 with a growth of nearly $3,000; the smallest increase was $664 in 2001-02.
Roth attributes the decrease to the nationwide economic recession in 2001.
“We were still losing jobs in 2003, but at a slower clip,” he said, adding that he thinks growth will pick up in the next few years.
Luke Roney covers education and agriculture for the Free Lance. Reach him at 831-637-5566 ext. 335 or at [email protected]
