Real Median Household Income in Indiana
MEHOINUSINA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76,910.00
Year-over-Year Change
31.74%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Indiana measures the purchasing power of typical Indiana households, adjusted for inflation. It is a key economic indicator for assessing the financial well-being of 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 median inflation-adjusted income for all households in the state of Indiana. It is widely used by economists and policymakers to understand trends in living standards and the distribution of economic gains.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Trends in real median household income provide insights into the broader economic health and standard of living in Indiana.
Key Facts
- Indiana's real median household income in 2021 was $57,603.
- Incomes in Indiana have grown by 12% over the past decade.
- Indiana's median income is slightly below the national average.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Indiana measures the inflation-adjusted income level at which half of Indiana households have higher incomes and half have lower incomes.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the typical living standards and purchasing power of Indiana residents, which is crucial for assessing economic well-being and the distribution of gains.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data annually through the American Community Survey, a nationwide survey of households.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to gauge the financial health of Indiana households and inform decisions about tax, spending, and economic development policies.
Q: Are there update delays or limitations?
A: The data is released annually with a 1-year lag, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Real Median Household Income in Indiana (MEHOINUSINA672N), retrieved from FRED.