Mean Family Income in Northeast Census Region
MAFAINUSNEA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151,500.00
Year-over-Year Change
66.98%
Date Range
1/1/1967 - 1/1/2023
Summary
The 'Mean Family Income in Northeast Census Region' tracks the average income of families living in the Northeastern United States. This statistic is a key indicator of economic well-being and standards of living in the region.
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 data series measures the mean income of family households located in the Northeast Census Region, which includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont. It is used by economists and policymakers to analyze regional economic trends and compare income levels across different parts of the country.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
This metric provides important context for evaluating economic conditions and consumer demand in the Northeastern United States.
Key Facts
- The Northeast region has the highest mean family income of any U.S. Census region.
- Mean family income in the Northeast was $134,522 in 2021.
- Incomes in the Northeast have grown faster than the national average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average income of family households located in the Northeastern United States. It provides a key indicator of economic well-being and standards of living in the region.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists, policymakers, and market analysts to evaluate economic conditions and consumer demand in the Northeastern U.S.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to assess regional economic performance and make informed decisions about investments, programs, and policies affecting the Northeastern United States.
Q: Are there update delays or limitations?
A: There may be a short delay between when the data is collected and when it is published, but the series is updated regularly by the Federal Reserve.
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Citation
U.S. Federal Reserve, Mean Family Income in Northeast Census Region (MAFAINUSNEA646N), retrieved from FRED.