Median and Quartile Contract Rent
The median divides the rent distribution into two equal parts: one-half of the cases falling below the median contract rent and one-half above the median. Quartiles divide the rent distribution into four equal parts. Median and quartile contract rent are computed on the basis of a standard distribution. (See the "Median Standard Distributions" section in Appendix A.) In computing median and quartile contract rent, units reported as "No rent paid" are excluded. Median and quartile rent calculations are rounded to the nearest whole dollar. Upper and lower quartiles can be used to note large rent differences among various geographic areas. The median contract rent explanation is comparable to the description used for Median Gross Rent. (For more information, see "Median" and
"Quartile" under "Derived Measures.")