Real Mean Family Income in South Census Region
This dataset tracks real mean family income in south census region over time.
Latest Value
124400.00
Year-over-Year Change
24.28%
Date Range
1/1/1967 - 1/1/2023
Summary
The Real Mean Family Income in South Census Region measures the average inflation-adjusted income for families in the southern United States. This economic indicator provides insights into household financial well-being and consumer spending patterns.
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 tracks the mean inflation-adjusted income for family households located in the South Census Region, one of the four major regional divisions defined by the U.S. Census Bureau. It is a key measure of economic prosperity and living standards for the southern states.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey and adjusted for inflation using the Consumer Price Index.
Historical Context
Policymakers and economists analyze this regional income trend to assess regional economic conditions and inform decisions on fiscal, monetary, and social policies.
Key Facts
- The South Census Region includes 16 states, from Texas to Maryland.
- Real mean family income in the South was $91,653 in 2021.
- Income in the South lags behind the national average by about 10%.
FAQs
Q: What does this economic trend measure?
A: The Real Mean Family Income in South Census Region measures the average inflation-adjusted income for family households located in the southern United States.
Q: Why is this trend relevant for users or analysts?
A: This regional income metric provides important insights into the economic well-being and consumer spending patterns of households in the southern states, informing policy decisions and market analysis.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey and adjusted for inflation using the Consumer Price Index.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this regional income trend to assess economic conditions in the South and inform decisions on fiscal, monetary, and social policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Real Mean Family Income in South Census Region (MAFAINUSSOA672N), retrieved from FRED.