Average American Income [2022]: Statistics On Household + Personal Income In The Us;- The good news is that average American incomes have been trending up over time. The bad news is that income inequality has increased dramatically in the last 30 years, and some states are seeing less growth than others.
In this article, we’ll walk through the latest numbers for average income by age, state, household size and more. We’ll also dive into statistics on household vs personal income and how these numbers have trended over time.
Average American Income [2022]: Statistics On Household
The average American income is $69,000.
The average American income is $69,000. The median income is $61,372 and per capita income is $31,177.
- Personal Income by State (2016 Data)
The states with the highest average personal incomes are Maryland ($72K), California ($67K), Alaska ($66K) and Connecticut ($65K). States with the lowest average personal incomes include Mississippi (52K), West Virginia (52K) and Arkansas (50K).
- Household Income by State (2016 Data)
The states with the highest household incomes are Maryland ($90K), California ($87K), New Jersey ($83K) and Alaska ($82K). States with the lowest household incomes include Mississippi (56k), West Virginia (55k) and Arkansas (54k).
The US median household income is $61,372.
The US median household income is $61,372.
The median income is a better measure of the middle than average income because it’s less affected by outliers at the high end. The average income includes all incomes, which masks the fact that most people are earning much less than what would be considered “average.”
For example: if you have one person who earns millions and another person who earns nothing, then your average annual salary will be skewed way higher than it should be. But if you only look at those in the middle—or median—then you get an accurate representation of how much people earn on average.
The US per capita income is $31,177.
You may have heard the term “per capita income” before, but what does it mean?
Per capita income is the total income of all Americans divided by the total number of Americans. In other words, it’s a measure of how much money each person in the US earns on average.
The US per capita income is higher than that in most countries worldwide (only Luxembourg and Norway have higher per capita incomes). However, despite having an impressively high average annual salary, many people still struggle to make ends meet—especially if they have a family or live in a city where housing costs are high.
The US median personal income is $31,099.
The median personal income is the amount that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. The median of a data set is its value such that exactly one-half of the values are greater than or equal to it, and exactly one-half are less than or equal to it.
In other words, there is a 50% chance that any given value in the data set will be less than or equal to the median.
The highest earning 20% of American households earned more than $127,200 in 2017 according to estimates from the Census Bureau’s Current Population Survey (CPS). Nearly half (48%) of these households earned between $100,000 and $149,999 while another quarter (25%) made between $150K-$199K annually during this period.
Households in the top 1% earn an average of more than $569,000.
According to the data, households in the top 1% earn an average of more than $569,000. This is because these households have a higher average income than other groups. The top 1% of households is the highest-earning 1% of households.
Households in the top 25% earn more than $100,000.
The top 25% of households earn more than $100,000.
The top 5% earn more than $200,000.
The top 1% earn more than $350,000.
And the top 0.1% earn more than $1.5 million
Households in the top 10% earn over $149,000.
Households in the top 10% earned more than $149,000, while households in the top 1% earned more than $569,000. Households in the top 25% earned more than $100,000.
Women’s average income is 85% of men’s average income.
In the United States, women earn 85% of men’s average income. This means that women make an average of $0.85 for every dollar a man makes.
Why do women earn less? There are many reasons why women aren’t paid as much as men. For example:
- Women work fewer hours than men: On average, employed women spend more time doing household tasks and childcare than employed men do [3]. Because they spend less time working outside the home, they often have fewer years of experience and lower salaries than their male counterparts [4].
- Women work in lower-paying industries: On average, about 80% of workers in the highest-paid industry (manufacturing) are male and about 80% of workers in the lowest-paid industry (retail sales) are female [5]. Additionally, there are more high-paying jobs available to people with college degrees than there are low-paying jobs available without them; therefore males tend to fill roles requiring education while females fill roles that require little education or training [6].
Here are the latest statistics on American incomes by age, state and more
If you want to know where your paycheck ranks, the following statistics will give you an idea of how average American income differs by age, state, gender and more.
- Average income by age: In 2018, millennials had an average income of $50,079 annually. Gen-Xers had an annual average of $71,346 per year while baby boomers earned around $95,849 per year on average.
- Average income by state: The top five states with highest salaries are California ($64K), District of Columbia ($62K), New York ($60K), Massachusetts ($59K) and Maryland ($59K). Those earning the lowest incomes tend to live in Alabama ($38K), Mississippi ($39K) Arkansas (41 K) West Virginia (44k).
- You can read more about this here or here.* Average personal income for men vs women: Women made 80 cents on every dollar men earned in 2018 according to data from the Bureau Labor Statistics’ Annual Social Economic Tables report.* Average personal income based on race/ethnicity: Whites earned $58K while Asians brought home $72 K annually during the same time period.*
- Education level matters when looking at personal earnings levels: In general those who were college educated had higher incomes than those without a college degree.* Occupation matters too when it comes down to how much someone makes each year: The occupations with highest median annual wages were physicians & surgeons at $187k followed by software developers/programmers who raked in a cool $156k!
- On the opposite end of spectrum retail salespersons earn less than half that amount each year at only $26k annually.* Marital status also plays into what type of money one makes through their career choice with married adults making almost twice as much compared with singles or divorced people who have impressive incomes themselves; however their number falls short due to additional household expenses associated
Conclusion
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