Median Family Income in the United States
MEFAINUSA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100,800.00
Year-over-Year Change
65.33%
Date Range
1/1/1953 - 1/1/2023
Summary
The Median Family Income in the United States is a key economic indicator that measures the median annual income for families in the country. It provides insights into the economic well-being and purchasing power of American households.
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 income level for all family households in the United States. It is a widely used metric by economists, policymakers, and analysts to assess the financial health and standard of living of the average American family.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of households.
Historical Context
Median family income is an important input for evaluating consumer spending, poverty levels, and the overall state of the economy.
Key Facts
- The median family income in the U.S. was $79,900 in 2021.
- Median family income has grown by over 25% in the past two decades.
- Income levels vary significantly by geographic region and demographic factors.
FAQs
Q: What does this economic trend measure?
A: The Median Family Income in the United States measures the middle income level for all family households in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the financial well-being and purchasing power of the average American family, which is crucial for evaluating consumer spending, poverty, and the overall state of the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of households.
Q: How is this trend used in economic policy?
A: Median family income is a key input for policymakers, economists, and analysts in assessing the financial health and standard of living of American families, which informs decisions on economic, fiscal, and social policies.
Q: Are there update delays or limitations?
A: The data is published annually by the Census Bureau, with a typical lag of several months. The metric may not fully capture the diversity of family structures and income levels across different regions and demographics.
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Citation
U.S. Federal Reserve, Median Family Income in the United States (MEFAINUSA646N), retrieved from FRED.