Median Adjusted Gross Income for Montana
MEDAGIMT30A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49,500.00
Year-over-Year Change
58.18%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Montana measures the midpoint of income reported on individual tax returns in the state. This metric is a key indicator of economic well-being and helps guide policymakers.
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 Median Adjusted Gross Income for Montana represents the typical level of income reported by Montana residents for tax purposes. This statistic is widely used by economists and analysts to assess income trends and distribution within the state.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on tax return information.
Historical Context
Policymakers and market analysts closely monitor this income metric to understand economic conditions and inform decisions.
Key Facts
- Montana's median AGI was $58,700 in 2020.
- Incomes vary significantly across Montana's rural and urban areas.
- The state's median AGI has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Montana measures the midpoint of income reported on individual tax returns filed by Montana residents.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the economic well-being and income distribution within the state, which is crucial information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects and calculates this data annually based on tax return information.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies closely monitor this income statistic to understand economic conditions in Montana and inform decisions around taxation, social programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data due to the time required for tax return processing and Census Bureau analysis.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Montana (MEDAGIMT30A052NCEN), retrieved from FRED.