Median family income

{
  "id": "MLC-T-LAW-003202",
  "term": "Median family income",
  "field": "Law",
  "definition": "The income level at which half of all families earn more and half earn less within a specific geographic area, such as a state or metropolitan statistical area. This statistical measure is often used in legal contexts, particularly in bankruptcy law, to determine eligibility for Chapter 7 bankruptcy. It serves as a benchmark for assessing financial need or capacity to pay.",
  "url": "https://mlchart.com/terminology/law/median-family-income/"
}