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Real median household income measures the 50th percentile of all household incomes (i.e, if all of the household incomes are sorted, the median is the middle value).  Household income uses "money income", a concept from the Census Bureau that includes pre-tax income received on a regular basis.   It comes in the form of wages, salaries, commissions, tips, self-employment, dividends, net rental income, Social Security, retirement, disability benefits, Veteran's payments, unemployment or worker compensation, child support, and alimony.   Unlike personal income, it excludes the value of noncash benefits, like employer contributions to health insurance and Medicare and Medicaid payments.     The income values are adjusted for inflation.     Perhaps the most accepted measure of income, real median household income indicates whether a region's population is becoming more prosperous.  

Real Median Household Income and Annual Percent Change

Real median household income measures the 50th percentile of all household incomes (i.e, if all of the household incomes are sorted, the median is the middle value).  Household income uses "money income", a concept from the Census Bureau that includes pre-tax income received on a regular basis.   It comes in the form of wages, salaries, commissions, tips, self-employment, dividends, net rental income, Social Security, retirement, disability benefits, Veteran's payments, unemployment or worker compensation, child support, and alimony.   Unlike personal income, it excludes the value of noncash benefits, like employer contributions to health insurance and Medicare and Medicaid payments.     The income values are adjusted for inflation.  This chart estimates the median household income by race.   Note that there is not enough data to show for the Native Hawaiian and Pacific Islander category.  Perhaps the most accepted measure of income, median household income indicates whether a region's population is becoming more prosperous.   It is important to make sure prosperity is being realized by all racial and ethnic groups as our region works address factors leading to income inequality.

Real Median Household Income by Race

This chart uses 5-year American Community Survey data which is not directly comparable to the 1-year American Community Survey data.   The observation year represents the last year of the 5-year survey, for example, year 2022 represents the survey period of 2018-2022.   Some race categories have a small sample size, resulting in large observational variances.   For some years, data are suppressed and there is a break in the time series.

Real median earnings measures the 50th percentile of all person earnings - or income obtained in return for labor or services.    The median value is the middle value if all earnings are sorted from lowest to highest.  The Census Bureau measures earnings as pre-tax income, including:  wages, salaries, net income (gross receipts minus expenses) from self-employment, commissions, tips, and cash bonuses.  It excludes the value of noncash benefits, like employer contributions to health insurance and Medicare and Medicaid payments.     The earnings are adjusted for inflation.   Tracking real median earnings provides insight into the largest source of income for most households.   Changes to real median earnings tell us whether workers' incomes are growing or declining. 

Real Median Earnings and Annual Percent Change

Real per capita money income is an approximate measure of the average income per person.  "Money income" is a concept from the Census Bureau that includes pre-tax income received on a regular basis.   It comes in the form of wages, salaries, commissions, tips, self-employment, dividends, net rental income, Social Security, retirement, disability benefits, Veteran's payments, unemployment or worker compensation, child support, and alimony.   Unlike personal income, it excludes the value of noncash benefits, like employer contributions to health insurance and Medicare and Medicaid payments.     The income values are adjusted for inflation.    Changes in real per capita money income indicates whether a region's income levels are growing sufficiently to sustain the regional economy.  

Real Per Capita Money Income and Annual Percent Change

Real per capita personal income is an approximate measure of the average compensation per person.   Personal income includes: wages and salaries; employer contributions to pensions and insurance; proprietors' income;  dividends, interest, and rent; and personal current transfer receipts (e.g., Medicare and Medicaid).  This data is based on the county where a population lives, but since some data are collected by workplace (which may be in another county), there is a further adjustment to account for residence using commuting data from the Census Bureau.  The income values are adjusted for inflation.  Real per capita personal income growth supports a regional economy through additional money spent on consumer goods and services, which in turn supports local businesses and jobs.

Real Per Capita Personal Income and Annual Percent Change

The poverty rate measures the percentage of people (or households) living in poverty.    The Census Bureau uses a set of money income thresholds that vary by family size and composition to detect who is poor.  The poverty thresholds do not vary geographically, but they are updated annually for inflation with the Consumer Price Index (CPI-U).    People living in poverty are more vulnerable to losing access to the basic necessities of life such as  shelter, heat, electricity, and food. Poverty also limits access to education, jobs, health care, and is  related to lower educational and health outcomes in children. Lowering the poverty rate will help ensure  the most vulnerable children and families are considered as the region seeks to improve economic  prosperity.

Poverty Rate

The poverty rate measures the percentage of people living in poverty.    The Census Bureau uses a set of money income thresholds that vary by family size and composition to detect who is poor.  The poverty thresholds do not vary geographically, but they are updated annually for inflation with the Consumer Price Index (CPI-U).   This chart estimates the poverty rates of the population by race.   Note that there is not enough data to show for the Native Hawaiian and Pacific Islander category.     People living in poverty are more vulnerable to losing access to the basic necessities of life such as  shelter, heat, electricity, and food. Poverty also limits access to education, jobs, health care, and is  related to lower educational and health outcomes in children.  It is important to make sure that poverty declines for all racial and ethnic groups as our region grows in prosperity.

Prosperity