Median Adjusted Gross Income for Idaho
This dataset tracks median adjusted gross income for idaho over time.
Latest Value
51500.00
Year-over-Year Change
60.68%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Idaho measures the midpoint income level for individual taxpayers in the state. This statistic is widely used by economists and policymakers to assess economic well-being 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 Idaho represents the central income level among individual tax filers in the state. It is a key indicator of the typical income and standard of living for Idaho residents, and is often compared to national trends to understand regional economic performance.
Methodology
The data is collected annually by the U.S. Census Bureau through individual income tax returns.
Historical Context
Policymakers and analysts utilize this metric to evaluate the economic conditions and income distribution within Idaho compared to national benchmarks.
Key Facts
- The median AGI for Idaho was $51,672 in 2020.
- Idaho's median AGI is approximately 90% of the national median.
- Median AGI has grown by 25% in Idaho over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Idaho measures the midpoint income level for individual taxpayers in the state. It represents the typical income for residents.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and standard of living for Idaho residents, which is critical information for policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through individual income tax returns.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this metric to evaluate the economic conditions and income distribution within Idaho compared to national benchmarks, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year's information may not be immediately available.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Idaho (MEDAGIID16A052NCEN), retrieved from FRED.