Median Adjusted Gross Income for District of Columbia
This dataset tracks median adjusted gross income for district of columbia over time.
Latest Value
67000.00
Year-over-Year Change
60.05%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for District of Columbia measures the midpoint of reported incomes for tax filers in the District. This provides valuable insights into the economic well-being and purchasing power of D.C. 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
This data series represents the median, or midpoint, of adjusted gross incomes reported on individual tax returns for residents of the District of Columbia. It is a key indicator of the overall income distribution and financial resources available to D.C. households.
Methodology
The data is collected and reported annually by the U.S. Census Bureau based on tax filing information.
Historical Context
Policymakers and economists use this metric to assess economic conditions and trends in the nation's capital.
Key Facts
- Median AGI for D.C. residents was $84,077 in 2020.
- D.C. has the highest median income of any U.S. state or territory.
- Incomes in D.C. are over 50% higher than the national median.
FAQs
Q: What does this economic trend measure?
A: This metric represents the midpoint of adjusted gross incomes reported by individual tax filers residing in the District of Columbia. It provides a snapshot of the typical income level for D.C. households.
Q: Why is this trend relevant for users or analysts?
A: The median adjusted gross income in D.C. is a key indicator of the financial resources and purchasing power available to residents, which has important implications for policymakers and analysts studying the local economy.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the overall economic conditions and distribution of income within the District of Columbia, which informs decisions around taxation, public spending, and programs targeting low-income households.
Q: Are there update delays or limitations?
A: The data is released on an annual basis, typically with a 1-2 year lag, so it may not reflect the most recent economic conditions in real-time.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for District of Columbia (MEDAGIDC11A052NCEN), retrieved from FRED.