Median Household Income in Iowa
MEHOINUSIAA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80,860.00
Year-over-Year Change
61.01%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Iowa measures the middle household income level in the state. It is a key indicator of economic well-being and standard of living for Iowa 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
The Median Household Income in Iowa represents the income level at which half of Iowa households have higher incomes and half have lower incomes. It is a widely used metric for assessing the overall economic health and purchasing power of Iowa's population.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Policymakers and economists analyze this trend to understand income distribution and guide programs and policies that support Iowa's middle-class families.
Key Facts
- Iowa's median household income was $61,691 in 2020.
- Iowa's median income is slightly above the national median of $67,521.
- Incomes in Iowa have grown by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Iowa measures the midpoint of household incomes in the state, with half of households earning more and half earning less.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall economic well-being and purchasing power of Iowa's population, which is crucial information for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected annually through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand income distribution and guide programs and policies that support Iowa's middle-class families.
Q: Are there update delays or limitations?
A: The Median Household Income in Iowa data is updated annually, with a slight delay due to the time required for the Census Bureau to collect and process the survey information.
Related Trends
Value of Exports to United Kingdom from Iowa
IAGBRA052SCEN
Coefficient for Residential Carbon Dioxide Emissions, Kerosene for Iowa
EMISSCO2CKSRCBIAA
Chain-Type Quantity Index for Real GDP: Private Industries in Iowa
IAPIQGSP
Average Hourly Earnings of Production Employees: Retail Trade in Iowa
SMU19000004200000008
Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Iowa
IAMISCPRONGSP
Average Hourly Earnings of Production Employees: Wholesale Trade in Iowa
SMU19000004100000008A
Citation
U.S. Federal Reserve, Median Household Income in Iowa (MEHOINUSIAA646N), retrieved from FRED.