Looking at city-wide data is much too coarse for a pedestrian area like Davis Square. You can get much better data from looking at block-by-block data, like here: http://www.city-data.com/neighborhood/Davis-Square-Somerville-MA.html
It's interesting that some areas (like the 530 households in the neighborhood bordered by Willow, Highland, Boston and Broadway), have average incomes in the $120K per household range, which matches the average income of some of the wealthiest suburbs. With rents and property prices where they are, Davis Square is upscale-- as Foundry, Saloon, Painted Burro and other restaurants have recently discovered.
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It's interesting that some areas (like the 530 households in the neighborhood bordered by Willow, Highland, Boston and Broadway), have average incomes in the $120K per household range, which matches the average income of some of the wealthiest suburbs. With rents and property prices where they are, Davis Square is upscale-- as Foundry, Saloon, Painted Burro and other restaurants have recently discovered.