Real Per Capita Personal Income: Nonmetropolitan Portion for Indiana
INNMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,598.00
Year-over-Year Change
22.76%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Nonmetropolitan Portion for Indiana measures the average real (inflation-adjusted) personal income per person in the non-urban areas of Indiana. This metric is important for economists and policymakers to assess the economic well-being of rural populations.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the real per capita personal income for the non-metropolitan portions of the state of Indiana. It is a key indicator of the purchasing power and standard of living in rural areas, which can differ significantly from urban regions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household income surveys and economic modeling.
Historical Context
Trends in real per capita personal income for non-metropolitan areas are closely monitored by government agencies and economists to inform policy decisions and economic development strategies.
Key Facts
- Indiana's non-metropolitan per capita personal income was $50,324 in 2021.
- This metric has grown by 15% over the past decade, adjusted for inflation.
- Real per capita income in non-urban Indiana is about 85% of the statewide average.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average real (inflation-adjusted) personal income per person living in the non-metropolitan areas of Indiana.
Q: Why is this trend relevant for users or analysts?
A: Tracking real per capita income in rural and non-urban regions is important for understanding economic disparities, informing policy decisions, and guiding economic development strategies.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects household income data and uses economic modeling to estimate the real per capita personal income for Indiana's non-metropolitan populations.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the economic well-being of rural communities, identify areas needing targeted investment, and evaluate the impacts of economic development programs.
Q: Are there update delays or limitations?
A: This data is published annually with a lag of approximately one year. Regional income estimates may be subject to revisions based on updated source data.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for Indiana (INNMPRPIPC), retrieved from FRED.