Real Mean Family Income in the United States
MAFAINUSA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135,700.00
Year-over-Year Change
27.54%
Date Range
1/1/1953 - 1/1/2023
Summary
Tracks the inflation-adjusted average income for U.S. families. Provides critical insight into household economic well-being and standard of living.
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
Measures the average family income adjusted for inflation, reflecting economic performance and household purchasing power across the United States.
Methodology
Calculated by the U.S. Census Bureau using comprehensive household income surveys.
Historical Context
Used by policymakers to assess economic inequality and standard of living trends.
Key Facts
- Adjusted for inflation to show true purchasing power
- Represents average family income across all U.S. households
- Critical indicator of economic health and household prosperity
FAQs
Q: How is real family income different from nominal income?
A: Real income accounts for inflation, showing actual purchasing power. Nominal income does not adjust for price changes.
Q: Why is real mean family income important?
A: It reveals how family economic well-being changes over time, accounting for cost of living increases.
Q: How often is this data updated?
A: Typically updated annually by the U.S. Census Bureau with comprehensive household surveys.
Q: Does this include all types of income?
A: Includes wages, investments, business income, and other sources across all family units.
Q: Can this data show economic inequality?
A: Provides insights into income distribution and changes in family economic conditions over time.
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Citation
U.S. Federal Reserve, Real Mean Family Income in the United States (MAFAINUSA672N), retrieved from FRED.