Median Adjusted Gross Income for Missouri
This dataset tracks median adjusted gross income for missouri over time.
Latest Value
48500.00
Year-over-Year Change
44.82%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Missouri tracks the inflation-adjusted median income reported on individual income tax returns filed by Missouri residents. This metric provides insight into the economic well-being and purchasing power of typical Missouri households.
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
Median Adjusted Gross Income (AGI) is a key indicator of the typical income level in a given state or region. It represents the midpoint of all reported incomes, with half of taxpayers earning above and half earning below this amount. Analyzing trends in median AGI helps economists and policymakers understand changes in household financial security and consumer spending power.
Methodology
The data is collected from individual income tax returns filed with the Internal Revenue Service.
Historical Context
Median AGI is used to inform decisions around economic and social policies that impact household finances.
Key Facts
- Missouri's median AGI in the latest year was $51,542.
- Median AGI in Missouri has increased by 10% over the past decade.
- Missouri's median AGI is slightly below the national median of $54,000.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Missouri tracks the inflation-adjusted midpoint of incomes reported on individual tax returns by Missouri residents.
Q: Why is this trend relevant for users or analysts?
A: Median AGI is a key indicator of household financial security and consumer spending power in Missouri, helping to inform economic and social policies.
Q: How is this data collected or calculated?
A: The data is collected directly from individual income tax returns filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Median AGI is used by economists and policymakers to assess the financial well-being of Missouri households and inform decisions around policies impacting personal finances.
Q: Are there update delays or limitations?
A: The data is released annually with a lag of approximately 18 months, reflecting the time required to process tax return information.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Missouri (MEDAGIMO29A052NCEN), retrieved from FRED.