Real Median Household Income in Florida
MEHOINUSFLA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,200.00
Year-over-Year Change
21.86%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Florida measures the inflation-adjusted median income for households in the state. It is a key indicator of economic well-being and purchasing power for Florida residents.
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 tracks the real (inflation-adjusted) median household income in the state of Florida over time. Median household income is a common barometer of the typical family's financial situation and standard of living within a geographic area.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Policymakers and analysts use this metric to gauge economic trends and assess the financial security of Florida's population.
Key Facts
- Florida's real median household income was $55,660 in 2021.
- Incomes have risen by 25% in Florida since 2010, after adjusting for inflation.
- Household incomes vary significantly by region within the state.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Florida measures the inflation-adjusted midpoint of household incomes across the state. It provides insight into the typical financial situation of Florida residents.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and purchasing power for Florida's population. It helps policymakers and analysts assess financial security and living standards in the state.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey, which surveys a representative sample of Florida households.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze trends in Florida's real median household income to understand the financial conditions facing the state's residents and make informed decisions about economic policies and programs.
Q: Are there update delays or limitations?
A: The real median household income data for Florida is published annually with a 1-year lag, so the most recent figures reflect the prior year's conditions.
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Citation
U.S. Federal Reserve, Real Median Household Income in Florida (MEHOINUSFLA672N), retrieved from FRED.