Median Household Income in Hawaii
MEHOINUSHIA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97,360.00
Year-over-Year Change
64.88%
Date Range
1/1/1984 - 1/1/2023
Summary
The 'Median Household Income in Hawaii' trend measures the midpoint of household incomes in the state of Hawaii. This is a key economic indicator used by policymakers and analysts to assess the financial well-being of Hawaii's 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 represents the median, or midpoint, household income in the state of Hawaii. It is an important statistic that provides insight into the typical living standards and purchasing power of Hawaii's population, and is used to track changes in economic prosperity over time.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Median household income is closely monitored by economists and policymakers to gauge the overall economic health of a region.
Key Facts
- Hawaii has the highest median household income of any U.S. state.
- Median income in Hawaii increased by over 25% between 2010 and 2020.
- Housing costs are a major factor impacting household incomes in Hawaii.
FAQs
Q: What does this economic trend measure?
A: The 'Median Household Income in Hawaii' trend measures the midpoint of household incomes across the state of Hawaii. It provides insight into the typical living standards and purchasing power of Hawaii's residents.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a key economic indicator used by policymakers, economists, and analysts to assess the overall financial well-being and prosperity of a region's population.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: Median household income is closely monitored by economists and policymakers to gauge the overall economic health of a region and inform decisions around economic development, social welfare, and fiscal policy.
Q: Are there update delays or limitations?
A: The data is updated annually with a short delay, typically 1-2 years, to allow for collection and processing by the Census Bureau.
Related Trends
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Citation
U.S. Federal Reserve, Median Household Income in Hawaii (MEHOINUSHIA646N), retrieved from FRED.