Median Household Income in Massachusetts
MEHOINUSMAA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106,500.00
Year-over-Year Change
68.22%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Massachusetts is a key economic indicator that measures the inflation-adjusted midpoint of household incomes in the state. It provides insight into the economic well-being and purchasing power of Massachusetts 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 Massachusetts statistic represents the income level at which half of households in the state earn more and half earn less. It is a widely used benchmark for evaluating income distribution and standard of living within the state.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Policymakers and economists closely monitor trends in median household income to assess the economic health of Massachusetts and inform policy decisions.
Key Facts
- Massachusetts median household income was $81,215 in 2021.
- Median income in Massachusetts is significantly higher than the national average.
- Income levels vary considerably across different regions and demographics within the state.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Massachusetts measures the midpoint of household incomes in the state, providing insight into the economic well-being and purchasing power of residents.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the state's economic conditions and standard of living, making it highly relevant for policymakers, economists, and the general public.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor trends in median household income to assess the economic health of Massachusetts and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually, with a slight delay due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Median Household Income in Massachusetts (MEHOINUSMAA646N), retrieved from FRED.