Hi All,
I am working with 2020 and 2022 5-year estimates and would greatly appreciate some clarification on the following 3 variables:
aggregate property value
1. B25079001
aggregate income
2. B25120_002
number of owners
3. B25003_002
I am using the first variable from the list above as the value for “aggregate property value”, the 2nd one for “aggregate income” and the 3rd one for “number of owners.” However, they seem off. For example, the 2020 estimate results for state 02, county 013, tract 000100, block group 2 are:
B25079001 = 3,779,100
B25003_002 = 248
These numbers look incorrect, and I expect the average property value (3,779,100 / 248 = 15,238.31) to be much larger. Am I misinterpreting the aggregate value B25079001? Shouldn’t the aggregated property values at the block group level be higher? Maybe they are off by an order of magnitude?
As a comparison, I also note that for the exact same location, the 2012 estimate for B25079001 was over 11,000,000. Intuitively, this value makes more sense than what I have as an estimate in 2020—a value of 3,779,100.
I am seeing this issue across different states and block groups, for both aggregate property value AND aggregate income values in 2020 and 2022 ACS estimates. Data dictionaries and ACS documentation seems to confirm that B25079001 is an aggregate property value, but maybe I am misinterpreting something or messing up the data when calling the API.
Can you give the exact relevant 6 values 3 from 2022 and 3 from 2020 and 3 from 2022 ?
For example have the number of owners changed ? Also property values have a very skewed distribution and this tends to throw off conclusions based on means.
Have you reviewed the following documentation? Does "property value" include land ? If a property was subdivided this will confuse the issue.
www2.census.gov/.../2022_ACSSubjectDefinitions.pdf