<--Back to Wiki Home

Define Median in Real Estate

Median: 

The Median is a term used in statistics to describe the middle value in a set of data. To find the median, you arrange the data from smallest to largest and then identify the middle value. If there are an even number of values, then the median is the average of the two middle values.

Example: 

Let's say you have a set of data that includes the following numbers: 5, 8, 10, 12, 15. To find the median, you would arrange the numbers in order: 5, 8, 10, 12, 15. The middle value is 10, so the median for this set of data is 10.

"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"

The Median, oh what a thing!
It's the middle value, that's its fling.
You take some data, oh yes you do,
And put it in order, that's nothing new.

Then you find the middle, oh so bold,
The value that's not too hot, not too cold.
If there are two, oh what a scene,
The median is the average, oh so keen!

For example, let's say you have a set,
Of numbers that you can't forget.
5, 8, 10, 12, 15, oh what a view,
To find the median, what will you do?

You put them in order, from small to large,
And find the middle, that's the charge.
10 is the number in the middle, you see,
That's the median, oh so easy!

So when you have data, and need to find,
The middle value, don't you mind.
Just find the median, it's quite a breeze,
And you'll have a number, that's sure to please!