Yearly average household income reaches $143k

The average household income increased by more than $37,000 over the past 10 years.

The Department of Statistics released the 2013 Household Expenditure Survey Report yesterday. The Household Expenditure Survey was undertaken from May to September 2013; the last survey was conducted in 2004.

The survey revealed that the average annual household income reached $143,882, above the $106,233 measured in 2004. 

This Report provides findings on the levels and patterns of household expenditure for a comprehensive range of goods and services for Bermuda’s households.

The Household Expenditure Survey also provides data that assists in measuring the economic well-being of the population Highlights of the 2013 Household Expenditure Survey:

Average weekly household expenditure increased by 18% from the 2004 expenditure level reaching $1,807 in 2013.

Expenditure on household utilities reached $95 per week.

The average household spent roughly $10,300 a year on health care.

88% of households owned at least one cellular phone; up from 73% in 2004.

The average size of households slipped to 2.21 persons in 2013, down from 2.33 in 2004.

The average number of workers per household stood at 1.21 persons.

Average weekly household income reached $2,767 compared to $2,043 in 2004.

Average annual household income reached $143,882, above the $106,233 measured in 2004.