Median Adjusted Gross Income for Arizona
This dataset tracks median adjusted gross income for arizona over time.
Latest Value
49500.00
Year-over-Year Change
50.91%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Arizona measures the midpoint income level for individual tax filers in the state. This key economic statistic is widely used by policymakers and analysts to assess income distribution and tax policy impacts.
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 median adjusted gross income (AGI) reported on individual tax returns for Arizona residents. The AGI is a common measure of household income that serves as the basis for calculating federal income taxes. Tracking median AGI provides insights into the financial well-being and purchasing power of a state's population.
Methodology
The data is collected annually from individual income tax returns filed with the Internal Revenue Service.
Historical Context
Median AGI is an important indicator used by economists, policymakers, and market analysts to understand consumer trends and the broader economic climate within a state.
Key Facts
- The median AGI for Arizona in the latest year was $54,700.
- Arizona's median AGI has increased by 15% over the past decade.
- Median AGI varies significantly by county and metropolitan area within Arizona.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Arizona measures the midpoint income level for individual tax filers in the state. It provides insights into the financial well-being and purchasing power of Arizona's population.
Q: Why is this trend relevant for users or analysts?
A: Median AGI is a key economic indicator used by policymakers, economists, and market analysts to understand income distribution, consumer spending, and the broader economic climate within a state.
Q: How is this data collected or calculated?
A: The data is collected annually from individual income tax returns filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Median AGI data informs state-level tax, spending, and economic development policies aimed at supporting middle-class households and promoting broad-based prosperity.
Q: Are there update delays or limitations?
A: The Median Adjusted Gross Income for Arizona data is published annually with a lag of approximately 12-18 months, reflecting the time required for individual tax return processing.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Arizona (MEDAGIAZ4A052NCEN), retrieved from FRED.