Median Household Income in Missouri
MEHOINUSMOA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78,290.00
Year-over-Year Change
71.05%
Date Range
1/1/1984 - 1/1/2023
Summary
The 'Median Household Income in Missouri' series tracks the midpoint of the income distribution in the state of Missouri over time. This key economic indicator provides insights into the purchasing power and standard of living for Missouri households.
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
Median household income is a widely used metric that represents the middle value in the income distribution for a given population. Analyzing trends in median household income helps economists and policymakers understand the overall economic well-being and changes in the financial status of typical households in Missouri.
Methodology
The U.S. Census Bureau collects this data through the annual American Community Survey.
Historical Context
Median household income data is crucial for informing economic and social policies at the state level.
Key Facts
- Missouri's median household income in 2021 was $57,290.
- Median household income in Missouri has increased by over 30% since 2000.
- Missouri's median household income is slightly below the national average.
FAQs
Q: What does this economic trend measure?
A: The 'Median Household Income in Missouri' series tracks the midpoint of the income distribution for households in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a key indicator of economic well-being and purchasing power for typical Missouri households, making it highly relevant for policymakers, economists, and the general public.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through the annual American Community Survey.
Q: How is this trend used in economic policy?
A: Median household income data is crucial for informing economic and social policies at the state level, as it provides insights into the financial status and standard of living for typical Missouri households.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-year lag, so the most recent figure may not reflect the current economic conditions in Missouri.
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Citation
U.S. Federal Reserve, Median Household Income in Missouri (MEHOINUSMOA646N), retrieved from FRED.