Median Adjusted Gross Income for Texas
MEDAGITX48A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,500.00
Year-over-Year Change
45.75%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Texas metric provides a measure of the typical income level of taxpayers in the state. This data point is relevant for economists and policymakers to understand economic conditions and trends.
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 Texas represents the midpoint income level for individual tax filers in the state. It is a useful indicator of the overall financial well-being and purchasing power of Texas residents compared to national trends.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on individual income tax return filings.
Historical Context
This metric is closely monitored by economists, market analysts, and policymakers to assess the economic health and consumer spending dynamics in Texas.
Key Facts
- Texas median AGI was $53,390 in 2020.
- Median AGI in Texas has grown by 25% over the past decade.
- Texas ranks 25th among U.S. states for median adjusted gross income.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Texas metric measures the midpoint income level for individual tax filers in the state of Texas.
Q: Why is this trend relevant for users or analysts?
A: This data point is relevant for economists, market analysts, and policymakers to assess the overall financial well-being and consumer spending dynamics in Texas compared to national trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Census Bureau based on individual income tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor this metric to understand the economic health and consumer spending patterns in Texas, which informs policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a 1-year delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Texas (MEDAGITX48A052NCEN), retrieved from FRED.