Median Adjusted Gross Income for Maryland
MEDAGIMD24A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60,000.00
Year-over-Year Change
31.50%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Maryland measures the midpoint income level of Maryland taxpayers, providing insight into economic well-being and tax burden in the state.
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
This series represents the median adjusted gross income (AGI) reported on federal income tax returns for Maryland residents. The median AGI is a key economic indicator used to assess income distribution, tax policy impacts, and standards of living within a geographic area.
Methodology
The data is collected by the U.S. Census Bureau from annual federal income tax return filings.
Historical Context
Policymakers and analysts use median AGI data to evaluate economic conditions and the impacts of tax and fiscal policies in Maryland.
Key Facts
- The median AGI for Maryland was $50,737 in 2020.
- Maryland's median AGI is consistently higher than the national median.
- Median AGI can vary significantly by county and metropolitan area within Maryland.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Maryland measures the midpoint income level of Maryland taxpayers based on federal income tax return data.
Q: Why is this trend relevant for users or analysts?
A: Median AGI is a key indicator of economic well-being and standards of living in Maryland, and is used to assess the impacts of tax and fiscal policies in the state.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau from federal income tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use median AGI data to evaluate economic conditions and the impacts of tax and fiscal policies in Maryland.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year after the tax filing season.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Maryland (MEDAGIMD24A052NCEN), retrieved from FRED.