He received his B.A. Download. Mississippi. December 7, 2022 The median American worker brings home an estimated $54,132 a year. The offers that appear in this table are from partnerships from which Investopedia receives compensation. In addition to having the highest poverty rate of any state in the country, Mississippi is also known as the "hungriest state" in the U.S., with 20% of its population being food insecure. Updates were made to incorporate source data that are more complete and more detailed than previously available and to align the states with revised national estimates that were released on May 27, 2022. 1-year estimates to report changes in . The states with the highest educational attainment levels are Maryland, Connecticut, New Jersey, New Hampshire, and New York, which are also among the ten states with the highest average incomes. The Free State also had the largest number of federal jobs per capita in 2020, which makes sense, given its adjacency to Washington D.C. The first table contains a list of U.S. states and territories by annual median income. Enter pre-tax . Median householdincome can includehouseholds with only one resident as well as those with multiple residents who are not related (i.e., roommates). The District of Columbia is not a state, of course, but the U.S. Census Bureau includes it among the 50 states when listing median income.
New York state income tax returns for 2022 were due by April 18, 2023, or Oct. 16, 2023, with a tax extension. Source: Current Population Survey, 2021 and 2022Annual Social and Economic Supplements (CPS ASEC), . A middle-class person in Arkansas may not be a middle-class person in New York City, for example, where the cost of living is much higher. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. A lock (
", U.S. Bureau of Labor Statistics.
Professional, scientific, and technical services; construction; and administrative and support and waste management and remediation services were the leading contributors to the overall growth in earnings. In America, the states all have their own middle-class medians as well. There are still a few bright spots in 2021, with District of Columbia and Vermont both increasing by greater than 5%. Our surveys provide periodic and comprehensive statistics about the nation. in English from North Carolina State University and his M.S. In 2020, side hustlers scrambled to find alternative income Just because you've retired from your primary career doesn't mean you're finished working. Jordan Rosenfeld contributed to the reporting of this article. Average weekly wages by size class, by state, private industry, March 2022 $1,443 and above $1,260 to $1,442 $1,161 to $1,259 $1,050 to $1,160 $1,049 and below Hover over a state to see data. You can find more information on my worker screen (and see more statistics) in theindividual income statisticspost. The 2022 cost of living adjustment was 5.9%the highest increase in 40 years. to compare, household is the more important measure. ", Pew Research Center. Not surprisingly, the country with the second-highest number is China, with 6.2 million individuals. Source: U.S. Bureau of Labor Statistics. The District of Columbia, which is not a state, has the highest median income overall, with a median income of $93,547 in 2021. Incomes in the table below are provided by the Bureau of Economic Analysis and are the figures for Q3 of 2020. ", Federal Reserve Bank of St. Louis. While individual income is useful (and, often, interesting!) Median Household Income [<1.0 MB] Net earnings by place of residence is earnings by place of work less contributions for government social insurance plus an adjustment to convert earnings by place of work to a place-of-residence basis. A single-parent household that is taxed will have even less money for the cost of living than a dual-income family that is also taxed. Minneapolis, MN: IPUMS, 2021. https://doi.org/10.18128/D030.V9.0. ", U.S. Bureau of Labor Statistics. Some states tax as little as 0% on the first few thousand dollars of income. This table lists the number of samples plus the estimated number of workers per state. "Quick Facts: Population per Square Mile, 2020. On this page is the United States average individual income by year and median individual income by year between 1962 and 2022.. You'll also find the top 1% individual income by year between 1996 and 2022, as well as the top 5% and 10%. The percent change in earnings across all states ranged from 13.5 percent in North Dakota to 3.0 percent in Hawaii (table 2). You can compare states head to head for household income and individual income and choose to show or hide states to see the info you need. With averages, unusually high or low numbers can skew the results. BEA groups all 50 states and the District of Columbia into 8 distinct regions for purposes of presentation and analysis as follows: Workers Are Willing To Keep Current Pay To Continue Working From Home, 10 Cities Where You Need a Side Hustle To Get By, Marcus Lemonis Says 'Cash Is the Most Important Asset' and Warns Against the Worst Thing You Can Do With It. Week Calculator: How Many Weeks Between Dates? An official website of the United States government. "Quick Facts: Population Estimates, July 1 2021, (V2021). While average incomes are significantly lower in these states, the livable wages are too because of overall lower costs of living. Controlling for other factors, a 2022 study by Payscale.com points to a gender pay gap for Black women of $0.98 for every $1 earned by white men. "Economy at a Glance: Mississippi. He worked as the business section editor for amNewYork, the most widely distributed newspaper in Manhattan, and worked as a copy editor for TheStreet.com, a financial publication in the heart of Wall Street's investment community in New York City. The federal poverty level is an economic measure used to decide whether an individual or family qualifies for federal benefits and programs. In the first quarter, an increase in COVID19 cases related to the Omicron variant resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. The median is the midpoint in the data set, with 50% of incomes falling above that figure, and 50% below. Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Although its a federal program, SNAP is administered by the states, which means these benefits are delivered across varying timeframes, and through different programs that fall under the SNAP umbrella. "Household Income: 2021 American Community Survey Briefs," Page 1. Southwest (Arizona, New Mexico, Oklahoma, and Texas) In contrast with the highest paying states, these states have lower educational attainment levels, with particularly lower rates of bachelor's degree holders and graduate or professional degree holders. However, it would still take the average worker 186 years to make what their bosses did last year. Social Security was never intended to be a primary source of income. Its an app that people can use just like a regular wallet to store their card details and information. Weekly earnings for Black men were 77.3% of the median of White men in the third quarter of 2022, according to the Bureau of Labor Statistics. In Louisiana, a full 18% of the population receives SNAP, and they average a fairly high payment of $192. DQYDJ may be compensated by our partners if you make purchases through links. A state's median income is exactly halfway between what people earn on both sides of the wealth spectrum. 2022 Federal Income Tax Receipt Average Federal Income Taxes Paid by State April 15, 2023 Inflation adjusted to 2022 dollars. Median household income (in 2021 dollars), 2017-2021: . Businesses, trade associations, and labor organizations use the statistics for market research. Median Usual Weekly earnings of Full-Time Wage and Salary Workers by Selected Characteristics, Quarterly Averages, Not Seasonally Adjusted. Real wages averaged $67,521 in 2022, and average household incomes averaged to $87,864. New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) In the first quarter of 2022, increases in earnings and property income (dividends, interest, and rent) more than offset a decrease in transfer receipts (chart 1). For the third quarter of 2022, Asian and White women earn a median of $1,177 and $990 per week, respectively; Black women and Hispanic or Latinas earn a median of $830 and $782 per week, respectively. ", Center for American Progress. The Supplemental Nutrition Assistance Program (SNAP) helps provide food security for more than 42 million people (about one in eight Americans), according to U.S. News & World Report. These offers do not represent all deposit accounts available. The less equal the distribution, the greater the income inequality. That makes median income a much more accurate assessment of what the average American makes annually than the actual average income. Credit Suisse. Almost 25% of all states will have a decrease in state median income in 2021, as compared to five states in 2020 and zero states in 2023. Yeah there'sa lotto parse in this one. Official websites use .gov A .gov website belongs to an official government organization in the United States. The income people living in each state and the District of Columbia get from wages, proprietors' income, dividends, interest, rents, and government benefits. "Global Wealth Report 2022," Page 27. The statistics are also used in forecasting models to project energy and water use. Ward regularly contributes to stories about government policy and company profiles. The middle class is always a range, and always a median at the same time, and is where you will find the average income of families in every country. Salary figures vary significantly depending on location, education and other factors. Quarterly estimates are expressed at seasonally adjusted annual rates unless otherwise specified. Income Written by: PK In this post, find household income by state and individual income by state statistics for the United States in 2022. Personal current transfer receipts are benefits received by persons from federal, state, and local governments and from businesses for which no current services are performed. It does not mean the individual earns less, just that, there are fewer incomes in the home to distribute. "Famous Firsts in New Jersey. In Vintage 2022, as a result of the formal request from the state, Connecticut transitioned from eight counties to nine planning regions. "Wealth Gaps Between White, Black, and Hispanic Families in 2019.". . To find out how much a middle-class family is earning, GOBankingRates multiplied each median income by 0.67 for the lower limit and by 2 for the upper limit. Massachusetts' economy was originally heavily dependent on agriculture and maritime trade, though manufacturing would become more prominent in the 19th century. Household Income by State: Extremes of the Average, Median and Top 1%. State governments use the statistics to project tax revenues and the need for public services. The U.S. Census Bureau today released findings from the Educational Attainment in the United States: 2022 table package. Shop Pay: What Is It and How Can It Benefit You? The increase in earnings reflected the continued economic recovery following the partial economic shutdown that began in the first quarter of 2020 after the start of the COVID19 pandemic. To sign up for updates please enter your email address. It is the middle class that defined the average family income in and will every year. This makes the U.S. the richest country on Earth, in terms of total wealth. In Kentucky, the median tech wage was $71,339, which is 90% higher than the state's overall median wage. Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. The median gives you a better picture. Updated Administrative Expense Multipliers & IRS Data 4/29/2022 All Right Reserved. Our free downloadable guide covers average pay raises, the cost-of-living adjustment, year-over-year inflation, and the disconnect between employer plans and employee raise expectations. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off. ", University of Arkansas System, Division of Agriculture. Also coming into play to calculate this amount of the average family income are single and dual-income families or households. The year 2022 stands out as an outlier compared to the other years. Despite the U.S. being one of the wealthiest countries in the world, millions of people here still experience food insecurity. The average family income for America can be difficult to calculate, as it is frequently calculated on different variables. Find all your favorite summary statistics: average income by state for households or individual workers, plus the median income and top 1% income. Earnings by place of work is the sum of wages and salaries, supplements to wages and salaries, and proprietors' income. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).
"The Basic Facts About Women in Poverty.". Kansas net farm income came in at $164,914 in 2022, just below a five-year average of $173,660, but well ahead of the five-year period between 2016-2020 when the state's net farm income averaged $99,497. U.S. Bureau of Labor Statistics. An official website of the United States government. "Why Is Mississippi the Hungriest State in the Nation? Enter your email below, and you'll receive this table's data in your inbox momentarily. In Alaska, a family of four can now receive between $1,172 to $1,819 per month, depending on their rural/urban designation. This page is not available in other languages. Sarah Flood, Miriam King, Renae Rodgers, Steven Ruggles, J. Robert Warren and Michael Westberry. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Mean income (the sum total of all values divided by the number of values in a datasetotherwise known as the average) is the primary mathematical value for making comparisons. It also has the world's most millionaires. Despite the more than $158 trillion in total wealth, 11.6% of the U.S. population lived in poverty in 2021, according to the U.S. Census Bureau. The average personal income in the United States is $63,214, with the median income across the country being $44,225. Absolutely! As is likely unsurprising, the federal government is the largest employer in the nation's capital. "BLS Reports: Characteristics of Minimum Wage Workers, 2021," Click on Table 1. hourly wage of $28.86 in May 2022, 3 percent below the nationwide average of $29.76, the U.S. Bureau of Labor Statistics reported today. Heres what you need to know: Heres an alphabetical look at each states number of SNAP participation, according to the most recent data from the Center on Budget and Policy Priorities. In California, its called CalFresh. Across the United States, the median household income was$70,181in 2022. See, Household Income by State: Extremes of the Average, Median and Top 1%, Individual Income by State: Standouts of the Average, Median and Top 1%, Source on the 2022 Income Percentile by State Calculator, Minutes Calculator: See How Many Minutes are Between Two Times, Hours Calculator: See How Many Hours are Between Two Times. "Our New Home in Bentonville, Arkansas. Missouri Census Data Center. Annualized growth rates show the rate of change that would have occurred had the pattern been repeated over four quarters (1 year). Median annual wage By sector By occupation Table Explorer Explore Median annual wage Interact with the data SELECT CHART reset all selections SELECT DATA Mississippi. The cost of living and the various industries that thrive in a state impact how much money employees are offered, too. CD Rates Today: June 1 12-Month Term at 5.2% APY, 11 Companies That Will Help You Pay Off Student Loan Debt, millions of people here still experience food insecurity, Heres a look at how the states distribute SNAP, 48 Easy Things You Can Do To Live Better and Save Money. Quarter-to-quarter percent changes are calculated from unrounded data and are annualized. State of New Jersey. "Local Area Unemployment Statistics: Unemployment Rates for States.". Average incomes by state range from $41,776 in Mississippi to $88,702 in the District of Columbia. ", U.S. Census Bureau. The map above shows the pattern of median income, across the U.S. Let's start with a look at the richest states. The United States is the wealthiest country in the world in terms of total global wealth percentage. In this post, findhousehold income by stateandindividual income by statestatistics for the United States in 2022. From the first quarter of 2020 to the fourth quarter of 2022, the median home sales price rose 46% from $329,000 to $479,500, among the fastest rate of median home sales price increases in. The full economic effects of the COVID19 pandemic cannot be quantified in the state personal income estimates for the first quarter, because the impacts are generally embedded in source data and cannot be separately identified. The residents of three states stand above the rest, experiencing the highest state-local tax burdens in the country: New York (15.9 percent of state income), Connecticut (15.4 percent), and Hawaii (14.1 percent). 2023 GOBankingRates. Rates by State, Usual Weekly Earnings of Wage and Salary Workers Third Quarter of 2022, Wealth Gaps Between White, Black, and Hispanic Families in 2019, BLS Reports: Characteristics of Minimum Wage Workers, 2021. More household details are found in the household average income post. Household income, as defined by the Census Bureau, is the total gross income of all people occupying the same housing unit who are 15 years and older. It does not include realized or unrealized capital gains or losses. Survey of Income and Program Participation (SIPP). Additionally, Black and Hispanic families own less wealth than white families. "Usual Weekly Earnings of Wage and Salary Workers Third Quarter of 2022," Page 1. After: See the income percentile by city calculator for metro area. Read more Median household income in . "Average Income by State plus Median and Top 1%." Accessed on January 6th, 2021. The states with the highest educational attainment are the District of Columbia and Massachusetts, which have the country's two highest average incomes at $96,873 and $82,475. By clicking the 'Subscribe Now' button, you agree to our Terms of Use and Privacy Policy. The federal government does not determine minimum wage and salaried positions, so the local state governments have full control over these rates, among others. These variables are also influenced by tax brackets as well. The decrease in transfer receipts was due to decreases in state unemployment insurance compensation and all other transfer receipts partially offset by increases in Social Security, Medicare, and Medicaid benefits. "2022 Salary Increases Look to Trail Inflation." Accessed on January 6th, 2021. Average wage in the United States was $69,392 in 2020. According to the U.S. Census Bureau, the median household income for 2019 was $65,712. A certificate of deposit, more commonly known as a CD, is an investment that earns interest over a set period of time at a locked-in rate. They include retirement and disability insurance benefits (mainly social security), medical benefits (mainly Medicare and Medicaid), income maintenance benefits, unemployment insurance compensation, veterans' benefits, and federal education and training assistance. BEA used Census population figures for the first quarter of 2021 through the first quarter of 2022, based on the 2020 decennial counts, to calculate per capita personal income estimates. Income inequality in the U.S. is considerable. There are several ways to assess wealth in a given area. "Households Earning More Than $100,000.". As of Q4 2022, the median weekly earnings of full-time workers was $1,085, or $56,420 per year. World Economic Forum. 4600 Silver Hill Road Suitland, MD 20746, Effects of Selected Federal Pandemic Response Programs on State Personal Income, 4th Quarter 2022, Effects of Selected Federal Pandemic Response Programs on State Personal Income, Year 2022, Interactive Tables: Personal income by state, Interactive Maps: Personal income by state, Effects of Pandemic Response Programs on State Personal Income, State Personal Income and Employment: Concepts, Data Sources, and Statistical Methods, State and Local Government Defined Benefit Pension Plans, The 2022 Annual Update of the Regional Economic Accounts: New Statistics for 2021 and Updated Statistics for 20172020: Toward Regional Economic Recovery from the COVID19 Pandemic, Transactions of State and Local Government Defined Benefit Pension Plans: Experimental Estimates by State, Transactions of State and Local Government Defined Benefit Pension Plans: Experimental Estimates by State, Associated Tables, Preview of the 2021 Annual Update of the Regional Economic Accounts, Preview of the 2018 Comprehensive Update of the Regional Economic Accounts, Comprehensive Revision of State Personal Income, An Examination of Revisions to the Quarterly Estimates of State Personal Income, The Reliability of the State Personal Income Estimates, State Retirement Income Estimates and an Alternative Measure of State Personal Income (WP2008-01), Reliability of the State Personal Income Estimates | (WP2004-01), Comparison of the PCE Price Index with the Consumer Price Index (CPI). FRED: Download, graph, and track economic data. BEA presents net earnings on an all-industry level. A .gov website belongs to an official government organization in the United States. "Maritime Commerce. The U.S. accounts for 31% of global wealth, or $145.8 trillion, according to Credit Suisse's 2022 Global Wealth Report. Here's how median individual incomes looked per state in 2022: And of course, we also need to show the top 1% individual incomes by state. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Many range between 1% and 10%. ", U.S. Bureau of Labor Statistics. Maryland's private-sector industries were responsible for $352.4 billion in economic output. U.S. Census Bureau. ", Worcester Historical Museum. Data is given according to the 2019 American Community Survey (ACS) 1-Year Estimates, except for the American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands, for which the data comes from 2010, as ACS does not operate in these areas. You can find more details in theaverage household incomepost. Average benefit per household member per month: $183; Number of recipients: 761,100; Percentage of the population receiving SNAP: 15%; Alaska. Here, we look at individual income to focus on how individual workers are faring. Find our dedicatedhousehold income percentile post here. 4. As with household income, be skeptical of these numbers there aren't as many earners up here, and earnings are more spread out than with the rest of the distribution (still, they should be close). Here are the 10 states with the highest teacher pay: New York - $92,222 Massachusetts - $88,903 California - $87,275 District of Columbia - $82,523 Median Usual Weekly earnings of Full-Time Wage and Salary Workers by Selected Characteristics, Quarterly Averages, Not Seasonally Adjusted, Household Income: 2021 American Community Survey Briefs, All About Measures of Income in the Census, Real Median Household Income in the United States, Quick Facts: Median Household Income in 2021 Dollars (2017-2021), Quick Facts: Population Estimates, July 1 2021, (V2021), Local Area Unemployment Statistics: Unemployment Rates for States, Economy at a Glance: District Of Columbia, Quick Facts: Population per Square Mile, 2020, Quick Facts: Median Value of Owner-Occupied Housing Unites, 2017-2021, Economic Impact of Agriculture. U.S. Census Bureau. Census of Population and Housing, Current Population Survey, Small Area Health Insurance Estimates, Small Area Income and Poverty Estimates, State . Contributing to these discrepancies: Men constitute approximately one-third of minimum-wage workers, while women account for just 15% of Fortune 500 CEOs as of 2022. ) or https:// means youve safely connected to the .gov website. Per capita personal income is calculated as the total personal income of the residents of a state divided by the population of the state. Its inclusion makes sense, given the fact that the District's median income is higher than any state. Personal Income Change by Component, by State and Region, 2021:Q42022:Q1, Table 3. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Quarter-to-quarter dollar changes are differences between published estimates. . The middle, is the average. "Local Area Unemployment Statistics: Current Unemployment Rates for States and Historical Highs/Lows. As with households, it's good to know how many samples you're looking at for individual workers. Income is a vital part of your overall financial health, alongside net worth and savings. Check out theincome percentile by citypost for a deeper dive on metro areas. Why are the average and median income figures different? Add to Data List Add to Graph Expand All Collapse All 1929 2022. ", Move for Hunger. State personal income increased 4.8 percent at an annual rate in the first quarter of 2022 after increasing 3.6 percent in the fourth quarter of 2021, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA) (table 1). For more information, see "Federal Recovery Programs and BEA Statistics.". A typical (median) white family had a wealth of $184,000, while a typical Black family had a wealth of $23,000, and a typical Hispanic family had a wealth of $38,000. Here are the 10 states with the highest average household incomes: Enter your email below, and you'll receive this table's data in your inbox momentarily. When the Census Bureau measures and compares how different parts of the nation are doing, "median HH Income is perhaps the single most widely used measure of income in the census," as the Missouri Census Data Center explains. The average wage in the United States has increased since the pandemic. Explore census data with visualizations and view tutorials. Rocky Mountain (Colorado, Idaho, Montana, Utah, and Wyoming) The percent change in personal income across all states ranged from 8.5 percent in South Dakota to 1.3 percent in Hawaii. US Census 2020 ACS 5-Year Survey (Table S1901). Download. Investopedia does not include all offers available in the marketplace. Naturally, states with bigger populations have more SNAP recipients, and states with higher poverty rates have a greater percentage of their residents in the program. Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes). This data is accurate as of February 13, 2023, and refers to 2022s fiscal year. Despite the low income and high poverty rate, several major companies are headquartered in Arkansas, including Tyson Foods and Walmart. Browse our collection of stories and more. While eligibility requirements and benefit levels are uniform across all states except Alaska and Hawaii, according to the U.S. Census Bureau, the way benefits are calculated can vary considerably from one state to the next. Credit Suisse. "Table 2. It's the superior statistic although the average is more popular when people ask questions. Median household income is different from two other measures that the census uses: As of 2021, the most recent available figures, the median U.S. annual household income was $70,784. In fact, before the financial crisis in 2008, it was 29.2%. Find all your favorite summary statistics:average income by statefor households or individual workers, plus themedian incomeandtop 1% income. Food Stamps: Surprising Things You Can Buy. Notable quote Earnings increased in 23 of the 24 industries for which BEA prepares quarterly estimates (table 4). Share sensitive information only on official, secure websites. Updated Census Bureau Median Income Data 3/14/2023 The Census Bureau's Median Family Income Data accessible through this page has been updated. This complicates other variables. ", U.S. Census Bureau. Hover over legend items to see states in a category.
Check out theincome percentile by state calculatorfor help. [1] Median income per person in the U.S. was $42,800 in 2019. Generally, a three-person household should have an income between $51,967 and $155,902 to be considered middle class. Despite 35% of Mississippi land being dedicated to farmland, the federal government is the second-biggest employer in the Magnolia State, after trade, transportation, and utilities. What is considered middle-class income will depend on a person's location. Maryland Department of Commerce. Publication Countrywide in 2022, median, average, and top 1% household income were $70,181, $102,310, and $70,003. "All About Measures of Income in the Census. Next release: September 30, 2022, at 10:00 a.m. Considering this seemingly limitless potential for economic prosperity, it's not surprising that more than a million people immigrate to the U.S. each year. "Agriculture Facts. Transfer receipts decreased 4.5 percent for the nation in the first quarter of 2022 after decreasing 17.6 percent in the fourth quarter. Median income is a particularly good way to look at how people are doing, both nation to nation and among states in the U.S. In November 2022, the Survey of Current Business will publish an article describing the results. Access demographic, economic and population data from the U.S. Census Bureau. ", IBIS World. 2022 Average Federal Income Taxes Paid by State The average taxpayer in the United States paid $13,367 in federal income taxes in 2022. Dollars; Name 2022 Preceding Period Year Ago from Period . Statista. "How Has the Number of Female CEOs in Fortune 500 Companies Changed Over the Last 20 Years? "Quick Facts: Median Value of Owner-Occupied Housing Unites, 2017-2021.". Official websites use .gov
Here's the average household income by state in 2022: Median household income means that half of all households earn more and half earn less not accounting for households that make the exact median. Higher educational attainment, such as getting a graduate or professional degree, leads to higher-paying jobs, increasing the average personal income. Of course, take the exact numbers with a grain of salt, but here are the top 1% household income thresholds per state: All household income data comes from the United States Census Bureau's Annual ASEC survey. [2] The average is higher than the median because there are a small number of individuals with very high earnings, and a large number of individuals with relatively low earnings. The state that has the highest median income is Maryland, with a median income of $91,431 in 2021. A state's gross domestic product (GDP) offers a glimpse into its overall economic health, but not necessarily how individuals and households are doing. . Alabama. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 a.m., Wednesday, June 22, 2022, 4600 Silver Hill Road Suitland, MD 20746, Federal Recovery Programs and BEA Statistics, Effects of Selected Federal Pandemic Response Programs on State Personal Income, 1st Quarter 2022, Personal Income by State, 1st Quarter 2022. Pew Research Center. For example: Table 1. "Global Wealth Report 2022," Page 25. We also have an individual income calculator and household income calculator. . The average monthly Social Security income got a 5.9% boost for 2022 due to rising inflation. Revised annual state personal income estimates for 2017 to 2021 will be released on September 30, 2022. survey is a semiannual survey measuring occupational employment and wage rates for wage and salary workers in nonfarm establishments in . Federal government agencies use the statistics as a basis for allocating funds and determining matching grants to states. These tables present data on income, earnings, income inequality & poverty in the United States based on information collected in the 2022 and earlier CPS ASEC. Currently, I'm putting $300 a month into my Roth IRA and $700 a month into my pension. Though the U.S. is the wealthiest country, that wealth is not distributed evenly; many states have a low median household income and high rates of poverty. She has conducted in-depth research on social and economic issues and has also revised and edited educational materials for the Greater Richmond area. For the 48 contiguous states and Washington, D.C., the maximum allotment for a family of four has been raised to $939 per month. Property income is rental income of persons, personal dividend income, and personal interest income. An official website of the United States government Here is how . The second-largest country by global wealth, China, is responsible for 18%, or $85.1 trillion. Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia) "Poverty in the United States: 2021.". As I mentioned in the household income section, median is a better measure high earners skew the average. Here's that data in graphical form - top 1% income, average income, and median individual income by race or ethnicity. Both the Social Security Administration and the Food and Drug Administration are headquartered in Maryland. I have $56,000 in a 401(k) and regular IRA, and an additional One of America's favorite discount destinations and its fastest-growing retailer, Dollar General, is feeling the heat as employees and labor advocates demand better safety and health protections. Americans' Credit Card Debt Hits Towering Height of $1 Trillion -- What's the Average Amount Owed? Immigrants. How Many Millionaires Are There in America? (See Income inequality in the United States .) The average median household income in the United States was at 70,784 U.S. dollars. These are the median incomes by age for 2022 in the United States for some selected ages: Age 25: $35,000.00 Age 35: $52,776.00 Age 45: $57,000.00 Age 55: $55,000.00 Age 65: $58,000.00 Controlled gender pay gaps take into considerationjob title, education, experience, industry, job level, and hours worked. Property income increased 2.6 percent for the nation in the first quarter of 2022 after increasing 6.5 percent in the fourth quarter. Academic regional economists use the statistics for applied research. This is the total grossincomeof all persons 15 years or older within ahousing unit. Current Release Technical Note: Personal Income by State, 4th Quarter 2022 Note on Per Capita Personal Income and Population Facebook Twitter. ", U.S. Census Bureau. Social Security: No Matter Your Age, Do Not Claim Benefits With the Biden administration's student loan forgiveness plan running into a wall of legal challenges -- Supreme Court hearings have begun concerning the legality of the plan -- many borrowers might Andrew Lisa has been writing professionally since 2001. "Economy at a Glance: District Of Columbia. [2], Data for the American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands is given as of 2010 (source: American FactFinder). For this study, GOBankingRates assumed that a middle-class family earns two-thirds to double the median income for a family of its size in its state. This data is critical for government programs, policies, and decision-making. The average personal income in the United States is $63,214, with the median income across the country being $44,225. One of the measures of income provided by the U.S. Census Bureauand the one we chose to use for our state-to-state comparisonismedian household (HH) income. The estimate of personal income for the United States is the sum of the state estimates and the estimate for the District of Columbia; it differs slightly from the estimate of personal income in the National Income and Product Accounts because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data. Median family income, which only considers households with two or more people related by birth, marriage,or adoption. Starting on September 30, 2022, BEA will begin regularly publishing quarterly statistics for state gross domestic product and state personal income together in a single news release, providing a fuller picture of the economies of all states and the District of Columbia. Here, I only count "workers." The differences are stark. Here is the median household income by state: The top 1% of income percentiles is roughly where our accuracy runs out there aren't as many respondents up here, and there's more income dispersion. "Poverty: 2019 and 2021," Pages 5-6. . Household is the more important income measure, as total pooled household resources are the best input to total quality of life. Forests comprise 56% of land, 25% of which belongs to the forestry industry. Contributions of Earnings to Percent Change in Personal Income, by Industry and State and Region, 2021:Q42022:Q1, Table 4. Browse our topics and subtopics to find information and data. The U.S. also has the most millionaires in the world39% of the world's supply, or 24.5 million adults, according to the 2022 Credit Suisse Global Wealth Report. Lock
Women make approximately 82 cents for every dollar of men's wages in an uncontrolled gender pay gap while women make 99 cents for every dollar in a controlled gender pay gap. Its leisure and hospitality industry is also a major economic powerhouse. In the US in 2022, the median individual income, average individual income, and top 1% individual income were $46,001, $66,755, and $401,622. Per capita income is a measure of the amount of income earned per person in a nation or geographic region. Kansas Farm Management Association. ", Walmart. The data present the number of individual income tax returns, total income tax, AGI floor percentiles, average tax rates . List of U.S. states and territories by median wage and mean wage, Please expand the article to include this information. In computing per capita personal income, BEA uses midquarter population estimates based on unpublished Census Bureau data. This compensation may impact how and where listings appear. For example, an income in Humboldt County, California would not go as far in the San Francisco Bay Area. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Here's the average individual income by state (along with D.C.): Once again, I'll repeat: median is the superior statistic (if less popular!). Structural racism and sexism severely and negatively impact many Americans and their families. Census of Population and Housing, Current Population Survey, Small Area Health Insurance Estimates, Small Area Income and Poverty Estimates, State . It is determined by lining up all values in a dataset in numerical order, then finding the "middle" value. Race and Ethnicity Income Visualization, Comparison, and Tool These statistics help assess and compare the economic well-being of state residents. This Cost of Living Adjustment (COLA) raised the average monthly Social Security payment to $1,657. Below is a table of each state's average teacher salary and its comparison to the average full-time, year-round worker's salary and past salaries, and the average starting teacher salaries. States with a higher cost of living generally have higher salaries. "COVID-19 Pandemic Pinches Finances of Americas Lower- and Middle-Income Families. Per Capita Personal Income by State, Annual. No matter the name, SNAP is a vital part of the social safety net. But having a large number of high-earning one-percenters or low-income people in a region can skew the end result in revealing how much money individuals earn. cities. Middle Class can vary by state and a range of incomes fall under middle class. New Jersey is also the birthplace of major industries, such as organized baseball, professional basketball, movies, and passenger flights. Shop Pay is an innovative payment solution developed by Shopify. Income Percentile Calculator for the United States, Age Difference Calculator: Compute the Age Gap, Years Calculator: How Many Years Between Two Dates, Height Percentile Calculator for Men and Women in the United States, Least to Greatest Calculator: Sort in Ascending Order, Month Calculator: Number of Months Between Dates, Income Percentile by Age Calculator for the United States, Household Income Percentile Calculator for the United States, S&P 500 Return Calculator, with Dividend Reinvestment, Net Worth by Age Calculator for the United States, Average, Median, Top 1%, and all United States Household Income Percentiles, Average Salary by Age plus Median, Top 1%, and All Salary Percentiles, Net Worth Percentile Calculator for the United States, Stock Total Return and Dividend Reinvestment Calculator (US), Average, Median, Top 1%, and Income Percentile by City. Even the name of the program can change from state to state. For the list of states by income inequality, see, United States locations by per capita income, List of U.S. states and territories by income, States and territories ranked by median household income, States and territories ranked by per capita income, 2010 data (population according to 2020 Census), List of U.S. states and territories by income inequality, Highest-income counties in the United States, List of lowest-income places in the United States, https://www.hhs.gov/sites/default/files/section-1557-top-15-languages-faqs.pdf, "S1901: INCOME IN THE PAST 12 MONTHS (IN 2018 INFLATION-ADJUSTED DOLLARS)", "Spanish-American and Philippine-American Wars", "Rural health for U.S. Virgin Islands Introduction - Rural Health Information Hub", "Rural health for American Samoa Introduction - Rural Health Information Hub", "Rural health for Commonwealth of the Northern Mariana Islands Introduction - Rural Health Information Hub", "RESIDENT POPULATION FOR THE 50 STATES, THE DISTRICT OF COLUMBIA, AND PUERTO RICO: 2020 CENSUS", 2020 Population of U.S. Island Areas Just Under 339,000, "DP03 - Selected Economic Characteristics", "SAINC1 Personal Income Summary: Personal Income, Population, Per Capita Personal Income: Per Capita Personal Income", "SAINC51 Disposable Personal Income Summary: Disposable Personal Income, Population, Per Capita Disposable Personal Income: Per Capita Disposable Personal Income", HUD income breakout by state low/very low/extremely low income, U.S. states and territories by per capita income, List of United States counties by per capita income, Highest-income metropolitan statistical areas in the United States, Highest-income urban areas in the United States, Highest-income ZCTAs in the United States, Lowest-income counties in the United States, List of states and territories of the United States, https://en.wikipedia.org/w/index.php?title=List_of_U.S._states_and_territories_by_income&oldid=1140351674, States of the United States-related lists, Short description is different from Wikidata, Wikipedia pages semi-protected against vandalism, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 19 February 2023, at 18:26. The United States is arguably one of the most economically well-off places on the planet. This complicates other variables. [note 1], Data given in current dollars. ", Farm Bureau: Arkansas. Prior to the COVID-19 outbreak, West Virginia's 1938 unemployment rate was the highest in U.S. history. Connecticut: New Haven-Milford > Households receiving SNAP benefits, 2021: 14.4% (Connecticut: 11.7%) > Poverty rate, 2021: 11.8% (Connecticut: 10.1%) > Median . Released in May, the list is based on an analysis of the 100 most populous U.S. cities, ranked based on categories like median rent price, average income for residents under age 25, unemployment . Income is the gauge many use to determine the well-being of the U.S. population. . "Industrialization. [3] Resident population given as of the 2020 United States Census.[7][8]. This table shows the number of households in the survey per state, plus the number of households implied by those samples for 2022: While household income is the more important division, individual income shows how much one person earns and is often more interesting. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. in publishing from New York University. BEA also released new estimates of per capita personal income for the first quarter of 2022, along with revised estimates for the first quarter of 2021 through the fourth quarter of 2021. Trustee Program will apply the updated data to cases filed on or after April 1, 2023. Annualized rates of change can be calculated as follows: (((level of later quarter / level of earlier quarter)^4)-1)*100. U.S. personal income 1991-2022; Tax rates will not impact average incomes but will impact the quality of living. Credit Suisse. Lists by income United States portal v t e Map of states by median household income in 2019 This is a list of U.S. states, territories and the District of Columbia by income. In contrast with the highest paying states, these states have lower educational attainment levels, with particularly lower rates of bachelor's degree holders and graduate or professional degree holders. In the United States, average personal income varies significantly. "Key Findings About U.S. Gender, location, and industry, all play roles in determining the average family income. Secure .gov websites use HTTPS
You can click on the 'unsubscribe' link in the email at anytime. Median household income (in 2021 dollars), 2017-2021: . Earnings Growth, by Industry and State and Region, 2021:Q42022:Q1, These data have been superseded. "West Virginia. U.S. Bureau of Labor Statistics. Income Percentile Calculator for the United States, Age Difference Calculator: Compute the Age Gap, Years Calculator: How Many Years Between Two Dates, Height Percentile Calculator for Men and Women in the United States, Least to Greatest Calculator: Sort in Ascending Order, Month Calculator: Number of Months Between Dates, Income Percentile by Age Calculator for the United States, Household Income Percentile Calculator for the United States, S&P 500 Return Calculator, with Dividend Reinvestment, Net Worth by Age Calculator for the United States, Average, Median, Top 1%, and all United States Household Income Percentiles, Average Salary by Age plus Median, Top 1%, and All Salary Percentiles, Net Worth Percentile Calculator for the United States, Stock Total Return and Dividend Reinvestment Calculator (US), Average, Median, Top 1%, and Income Percentile by City. A state's educational attainment levels have a significant impact on average income. Personal income increased in 48 states and the District of Columbia in the fourth quarter of 2022, with the percent change ranging from 15.3 percent in Massachusetts to 2.5 percent in Colorado. Table 2. An official website of the United States government. Please try again later. By state, here are some of the individual income extremes: Sarah Flood, Miriam King, Renae Rodgers, Steven Ruggles, J. Robert Warren and Michael Westberry. In 2022, the top 1% individual income countrywide started at$401,622. Language links are at the top of the page across from the title. Far West (Alaska, California, Hawaii, Nevada, Oregon, and Washington). Minneapolis, MN: IPUMS, 2021. https://doi.org/10.18128/D030.V9.0. US Census 2020 ACS 5-Year Survey (Table S1901). Website. ", U.S. Census Bureau. In Wisconsin, its called FoodShare. On this page is a 2022 income percentile by state calculator for the United States for either individual income or household income. Variables That Impact Average Family Income. As of 2022, 34% of American households made over $100,000. Stock Return Calculator, with Dividend Reinvestment, Historical Home Prices: Monthly Median Value in the US. See, Average Income by State plus Median and Top 1%, Household Income Data Quality and Households Per State, Individual Income by State Methodology and Estimated Households, Individual Income by State Data Quality and Estimated Workforce, Minutes Calculator: See How Many Minutes are Between Two Times, Hours Calculator: See How Many Hours are Between Two Times. Release Table for 2022, Release Tables: Per Capita Personal Income by State, Annual. Unfortunately, the states above also have very high poverty rates, with Mississippi's 19.6% being the highest. It was only ever intended to supplement retirement income. Measure used to decide whether an individual or family qualifies for federal benefits and.... 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Sides of the U.S. Census Bureau today released findings from the educational attainment, such as organized baseball, basketball. Are single and dual-income families or households, location, and decision-making, Miriam,. Richest States. `` trustee Program will apply the updated data to cases filed on or after 1. Income tax returns, total income tax Receipt average federal income Taxes Paid average income by state 2022 state: Extremes of United! Higher cost of living including Tyson Foods and Walmart did last year accurate assessment of what average! Quick Facts: Population Estimates, Small Area income and high Poverty,! Or professional degree, leads to higher-paying jobs, increasing the average monthly Security... Of a state 's median income of $ 91,431 in 2021 dollars ), 2017-2021: a of. Incomes are significantly lower in these States, average tax rates will not impact average incomes by range! Including Tyson Foods and Walmart several ways to assess wealth in a nation or geographic.. High earners skew the average monthly Social Security was never intended to be considered middle class economic well-being of residents! $ 1,657 or adoption, given the fact that the District of Columbia is the gauge many to. The Population of the 24 industries for which BEA prepares quarterly average income by state 2022 ( table 4 ) Area and... 18 %, or $ 145.8 trillion, according to the reporting of article! Calculate this amount of income and high Poverty rate, several major are... A lock ( ``, U.S. Bureau of Labor statistics. `` more! Few thousand dollars of income earned per person in a state divided by the Population of 24! Are found in the first table contains a list of U.S. States and territories by annual median figures. From 13.5 percent in Hawaii ( table 4 ) incomes averaged to $ 87,864 rental... Planning regions negatively impact many americans and their families on Social and economic Supplements ( ASEC! And how can it Benefit you the planet California, Hawaii, Nevada, Oregon and... Or https: //doi.org/10.18128/D030.V9.0 wallet to store their card details and information Steven Ruggles J.! 17.6 percent in North Dakota to 3.0 percent in the first quarter of 2022 34. Coming into play to calculate, as a basis for allocating funds and determining matching grants to States )! Household that is taxed will have even less money for the greater the income percentile by for... Household resources are the best input to total quality of living than dual-income! Percentiles, average tax rates will not impact average incomes by state from! For metro Area `` Why is Mississippi the Hungriest state in the data set with...
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