Median Adjusted Gross Income for Iowa
This dataset tracks median adjusted gross income for iowa over time.
Latest Value
55500.00
Year-over-Year Change
44.63%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Iowa measures the midpoint of reported income in the state. This key economic indicator is used to analyze income trends and guide policy decisions.
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 Iowa represents the middle value of all reported adjusted gross incomes in the state. It provides a more representative measure of typical household finances compared to average income, which can be skewed by high earners.
Methodology
The data is collected annually by the U.S. Census Bureau based on individual income tax filings.
Historical Context
Policymakers and economists monitor this metric to understand the financial well-being of Iowa residents and make informed decisions.
Key Facts
- Iowa's median AGI was $54,978 in 2020.
- Median AGI has grown 25% in Iowa over the past decade.
- Iowa's median AGI is 5% below the national median.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Iowa represents the midpoint of reported incomes in the state, providing a key indicator of typical household finances.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding income levels and distribution within Iowa, informing policy decisions and economic analyses.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau based on individual income tax filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to gauge the financial well-being of Iowa residents and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Iowa (MEDAGIIA19A052NCEN), retrieved from FRED.