Median Adjusted Gross Income for Oklahoma
This dataset tracks median adjusted gross income for oklahoma over time.
Latest Value
44000.00
Year-over-Year Change
36.40%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Oklahoma tracks the typical income level of Oklahoma residents based on federal tax returns. This statistic is a key measure of economic well-being and standard of living for the state.
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 (AGI) for Oklahoma represents the midpoint income level for tax filers in the state. It is used by economists and policymakers to gauge the overall prosperity and financial health of Oklahoma's population.
Methodology
The data is collected annually by the U.S. Census Bureau from federal individual income tax returns.
Historical Context
Trends in median AGI help inform decisions around tax, social, and economic policies for the state of Oklahoma.
Key Facts
- Oklahoma's median AGI was $51,419 in 2020.
- Median AGI has increased by 13% in Oklahoma over the past decade.
- Oklahoma's median AGI is 8% lower than the national median.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Oklahoma measures the midpoint income level of tax filers in the state based on federal tax return data.
Q: Why is this trend relevant for users or analysts?
A: Median AGI is a key indicator of the overall economic well-being and standard of living for Oklahoma's population, informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau from individual federal income tax returns.
Q: How is this trend used in economic policy?
A: Trends in median AGI help guide decisions around tax, social, and economic policies for the state of Oklahoma.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-2 year delay due to the time required to process tax return information.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Oklahoma (MEDAGIOK40A052NCEN), retrieved from FRED.