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.
Between 2022 and 2023, real per capita money income declined by $662, or 1.6%. The region's real per capita money income now stands at $42,020. Since 2019, real per capita income rose by $185, for a total growth rate of 0.4%, or 0.1% annually.