What does the median household income mean?

I m a little confused when trying to see what the median household income is, it says from what i read it s in the 50-55k range in America. I m 23 and my wife is 22 and we both make 15 an hour so that puts us at 62kish a year does this mean we are making more than most American family s? I dont see how this could... show more I m a little confused when trying to see what the median household income is, it says from what i read it s in the 50-55k range in America. I m 23 and my wife is 22 and we both make 15 an hour so that puts us at 62kish a year does this mean we are making more than most American family s? I dont see how this could be because it s not like we have a huge amount of money and it s just the 2 of us so I dont see how you have kids if you make less. Am I reading the stat wrong?
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