What was the median income for US families in 2016?
What was the median income for US families in 2016?
$57,617
for the United States and Puerto Rico: 2016 U.S. Median Household Income is $57,617 United States median does not include data for Puerto Rico. Source: U.S. Census Bureau, 2016 American Community Survey, 2016 Puerto Rico Community Survey.
What is the US median household income?
Median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 (Figure 1 and Table A-1).
How do you calculate a median income?
Median income is calculated by identifying the middle value in a set of incomes as long as the set of incomes is in ascending order, according to Concept Stew. With an even number, the median is calculated by averaging the two numbers in the middle of the set.
What is the average household income in the US?
The Average American Income – Interesting Stats and Facts The median household income in the US in 2019 was $68,703 The average wage in 2019 in the US was $51,916.27 $19.33 was the median wage per hour in the US in 2019 The top 1% wage earners in the US contribute 20% of American annual income There are 34 million people below the poverty line in the US in 2019
What does median family income mean?
Median household income is a frequently reported economic statistic. Because many households consist of a single person, median household income is usually less than median family income, another frequently reported economic statistic, because a household consisting of a single person is not included in the average family income calculation.
What is real median income?
real median household income. Data that divides households in specific geographic areas into two equal segments with one half earning more than the median income adjusted for inflation and the other half earning less. This refers to the combination of more than once income earner living in the same household.
