Median Household Income
Definition
The income level at which half of all households earn more and half earn less. It includes wages, salaries, Social Security, pensions, interest, dividends, and other income for all members of the household aged 15 and older.
Why It Matters
Median income is the gold standard measure of economic well-being because it is not skewed by extremely high earners the way average (mean) income is. It directly affects quality of life, housing affordability, and access to services.
How It's Measured
The Census Bureau asks survey respondents to report total household income from all sources over the past 12 months. The median is calculated from all reported values.
Current Value
US median: approximately $75,000 (2023)
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Frequently Asked Questions
The income level at which half of all households earn more and half earn less. It includes wages, salaries, Social Security, pensions, interest, dividends, and other income for all members of the household aged 15 and older.
Median income is the gold standard measure of economic well-being because it is not skewed by extremely high earners the way average (mean) income is. It directly affects quality of life, housing affordability, and access to services.
The Census Bureau asks survey respondents to report total household income from all sources over the past 12 months. The median is calculated from all reported values.