Real Median Household Income in Wisconsin
MEHOINUSWIA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79,690.00
Year-over-Year Change
16.54%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Wisconsin measures the middle household income level in the state, adjusted for inflation. This key economic indicator provides insights into the financial well-being of Wisconsin 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 Real Median Household Income in Wisconsin represents the midpoint of the income distribution, where half of households have higher incomes and half have lower incomes. It is a widely used metric for evaluating trends in household prosperity and purchasing power within the state.
Methodology
This series is calculated by the U.S. Census Bureau based on survey data.
Historical Context
Policymakers and analysts monitor this metric to assess the economic conditions and standards of living in Wisconsin.
Key Facts
- Wisconsin's real median household income was $63,293 in 2021.
- Household incomes in Wisconsin have grown by 13% since 2010.
- Wisconsin's median income is slightly higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Wisconsin measures the middle household income level in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial well-being and purchasing power of Wisconsin residents, which is valuable for policymakers and economists analyzing economic conditions in the state.
Q: How is this data collected or calculated?
A: This series is calculated by the U.S. Census Bureau based on survey data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to assess the economic conditions and standards of living in Wisconsin, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the Census Bureau's survey and publication schedule, which may result in some update delays.
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Citation
U.S. Federal Reserve, Real Median Household Income in Wisconsin (MEHOINUSWIA672N), retrieved from FRED.