Median Adjusted Gross Income for Colorado
This dataset tracks median adjusted gross income for colorado over time.
Latest Value
59500.00
Year-over-Year Change
51.35%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Colorado tracks the typical income level of Colorado tax filers. This metric is a key indicator of economic well-being and purchasing power for Colorado residents.
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
The Median Adjusted Gross Income for Colorado represents the midpoint of taxable income reported on federal tax returns filed by Colorado residents. It is a commonly used benchmark for evaluating income trends and inequality within the state.
Methodology
The data is collected and calculated annually by the U.S. Internal Revenue Service from individual income tax returns.
Historical Context
Policymakers and economists analyze this metric to assess the financial health and standard of living for Colorado households.
Key Facts
- Colorado's median AGI was $55,322 in 2020.
- Median AGI has grown by over 25% in Colorado since 2010.
- Colorado's median AGI exceeds the national median by around 10%.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Colorado measures the midpoint of taxable income reported by Colorado residents on their federal income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial well-being and purchasing power of Colorado households, which is useful for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Internal Revenue Service from individual income tax returns filed by Colorado residents.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to assess the overall financial health and standard of living for Colorado households, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a 1-2 year lag, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Colorado (MEDAGICO8A052NCEN), retrieved from FRED.