Log in. Show detailed source information? Register for free Already a member? More information. Supplementary notes. Other statistics on the topic. Demographics Average size of a family in the US Demographics Number of births in the United States Demographics United States - birth rate Demographics Number of Black single mothers U. Profit from additional features with an Employee Account.
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In order to find the sum total household income, the US Census Bureau has since added together the full value of the following values for all household members 15 years or older:. Along the same lines, the resulting average household income figure is not disseminated based upon household size, making it more challenging to compare any two average household income figures without additional context.
Overall, this calculation technique is designed to take into account only income related directly to monetary gain or loss. This calculation does not take into account household debt or non-monetary assets.
As such, average household income figures gathered through this methodology should generally be used only for evaluating base economic standing especially as it relates to employment. This can help compare average household income figures from disparate time periods. This is especially the case when it comes to evaluating peak and base household incomes during times of economic depression, such as the recent recession. In all, there are a wide set of statistical models which may be used to illustrate household incomes across the United States.
This evenly splits all American household incomes into two even halves, with an equal number of households above and below that line. This type of model would add up all household incomes across the country and divide that sum by the total number of American households.
The resulting figure would represent a numerical average which may or may not reflect a significant midpoint in the household income range. The distinction between a median and mean statistical model is crucial to providing an average household income figure that most accurately reflects the financial status of American families at a specific point in time.
Mean statistical models, in particular, are susceptible to high-end household income figures, often causing a mean household income total to appear much higher than the true household income of a middle class household.
However, since that low point in , the US average household income has continued to grow at a steady rate save for a brief over-performance and correction sequence in In broad terms, this trend indicates that more wealth has been generated and distributed across the US population since the most recent economic downturn. Many prognosticators have taken this continued growth as a sign of stability in the US economy overall, especially when it comes to serving the financial needs of working class households.
Even though current average household income statistics show an upward trend in per-dollar averages, there are deeper trends played out by examining the precise distribution of wealth during this nearly 10 year period of growth. Specifically, all signs currently point to a stark increase of income inequality across the American socioeconomic spectrum. To put it frankly: the rich are growing richer, the poor are growing poorer, and the middle class is rapidly shrinking.
Frequency: Annual. Household data are collected as of March. Estimation of Median Incomes. The Census Bureau has changed the methodology for computing median income over time. The Census Bureau has computed medians using either Pareto interpolation or linear interpolation. Currently, we are using linear interpolation to estimate all medians. Pareto interpolation assumes a decreasing density of population within an income interval, whereas linear interpolation assumes a constant density of population within an income interval.
All other estimates of median income and associated standard errors for through ASEC and almost all of the estimates of median income and associated standard errors for and earlier were calculated using linear interpolation.
Median incomes below those levels are more comparable from year to year since they have always been calculated using linear interpolation. For an indication of the comparability of medians calculated using Pareto interpolation with medians calculated using linear interpolation, see Series P, Number , Money Income in of Families and Persons in the United States.
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