Real Median Household Income in Delaware
MEHOINUSDEA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86,340.00
Year-over-Year Change
20.25%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Delaware measures the inflation-adjusted median income for households in the state. This important economic indicator provides insights into the financial well-being and purchasing power of Delaware residents.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Real Median Household Income in Delaware represents the midpoint of the income distribution in the state, with half of households earning more and half earning less. It is a key metric used by economists and policymakers to assess economic conditions and living standards within Delaware.
Methodology
This data is collected and calculated by the U.S. Census Bureau through household surveys.
Historical Context
Real median household income trends are closely watched by government, businesses, and consumers to understand the broader economic climate and consumer spending patterns.
Key Facts
- Delaware's real median household income was $68,287 in 2021.
- This represents a 1.8% increase from the previous year.
- Median incomes vary significantly across different regions of Delaware.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Delaware measures the midpoint of the income distribution for households in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the financial well-being and purchasing power of Delaware residents, which is useful for economic analysis, consumer spending forecasts, and policymaking.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through household surveys and adjusts the median income for inflation.
Q: How is this trend used in economic policy?
A: Real median household income is closely monitored by government, businesses, and consumers to understand broader economic conditions and consumer spending patterns within Delaware.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year, so the most recent figures may not fully reflect the current economic climate.
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Citation
U.S. Federal Reserve, Real Median Household Income in Delaware (MEHOINUSDEA672N), retrieved from FRED.