Mean Family Income in West Census Region
This dataset tracks mean family income in west census region over time.
Latest Value
144200.00
Year-over-Year Change
71.93%
Date Range
1/1/1967 - 1/1/2023
Summary
The 'Mean Family Income in West Census Region' series measures the average inflation-adjusted annual income for families residing in the Western United States. This metric is a key indicator of economic well-being and standard of living for a major U.S. geographic 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 series represents the mean family income for the West Census Region, which includes the states of California, Oregon, Washington, Nevada, Idaho, Montana, Wyoming, Colorado, Utah, and Arizona. It is a valuable gauge of regional economic conditions and can inform policy decisions related to taxation, social programs, and investments.
Methodology
The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Historical Context
Policymakers and analysts monitor this trend to assess the relative economic prosperity of the Western U.S. compared to other regions.
Key Facts
- The West Census Region represents approximately 23% of the U.S. population.
- Mean family income in the West was $110,235 in 2021, higher than the national average.
- Real (inflation-adjusted) mean family income in the West has grown by 25% since 2000.
FAQs
Q: What does this economic trend measure?
A: The 'Mean Family Income in West Census Region' series measures the average annual income for families residing in the Western United States, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the relative economic well-being and standard of living for a major U.S. geographic region, which can inform policy decisions and investments.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the economic prosperity of the Western U.S. relative to other regions, which can inform decisions on taxation, social programs, and investments.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so it may not reflect the most recent economic conditions.
Related News
U.S. jobless claims decline to lowest level since mid-July
U.S. Jobless Claims Drop: A Positive Sign for Economic Growth The U.S. economy is signaling a positive turn as the initial jobless claims have dropped to their lowest level since mid-July, suggesting a more resilient labor market. This decline in jobless claims is not just a number; it reflects crucial dynamics in the U.S. economy and employment landscape. As people file fewer claims for unemployment benefits, it suggests a strengthening employment market and a recovering economy. Also, the cur
U.S. Stocks Hit Records; Gold Surges, Bitcoin Declines
U.S. Stock Market Soars Amid Treasury Yield Concerns Despite ongoing global uncertainties, the U.S. stock market has defied expectations, setting unprecedented records this year. The surge of the stock indices reflects the market's buoyancy despite economic fluctuations. Major indicators like the Dow Jones, S&P 500, and Nasdaq have all reached new highs, signifying the resilience of equities in the current financial landscape. Meanwhile, gold prices have surged, reinforcing its status as a safe
US 10-year Treasury yield rise signals caution for investors
How the 10-Year Treasury Yield Surge Impacts Investors and the Fixed-Income Market The 10-year Treasury yield has surged past the 4% mark, capturing the attention of investors and markets alike. This rise is not just a random development; it signals broader shifts in the economic landscape, influencing everything from bond markets to investor strategies. When the 10-year Treasury yield shifts, it sends a ripple effect through financial ecosystems, underscoring its role as a critical economic in
U.S. mortgage rates decline aligns with housing price cuts
U.S. Real Estate: Mortgage Rates Plummet Mortgage rates in the U.S. have experienced a notable drop, marking some of the most significant cuts in recent years. This shift comes at a time when the housing market is adjusting with substantial price reductions, offering potential homebuyers opportunities. The interconnectedness of mortgage rates with the broader economic trends cannot be understated. Lower interest rates often mean cheaper loans, potentially sparking more activity in the real esta
U.S. Stock Futures Stagnant Despite Positive Jobless Claims and GDP
Why US Stock Futures Remain Stagnant Despite Positive Economic Indicators The current investment landscape is puzzling for many as US stock futures struggle to show a definite trend despite favorable economic signals. These signals, such as jobless claims and Q2 GDP figures, suggest a healthy economy. Given the roles of the stock market and the Federal Reserve's decisions on rate hikes, it is surprising to witness this stagnation. Inflation trends and the Fed's signals about future policies pla
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, Mean Family Income in West Census Region (MAFAINUSWEA646N), retrieved from FRED.