Median Adjusted Gross Income for Rhode Island
This dataset tracks median adjusted gross income for rhode island over time.
Latest Value
54000.00
Year-over-Year Change
45.25%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Rhode Island tracks the midpoint income level for individual tax filers in the state. This metric provides insight into the financial well-being and purchasing power of Rhode Island 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
The Median Adjusted Gross Income for Rhode Island represents the middle value of all reported adjusted gross incomes for individual tax returns filed by Rhode Island residents. It is a key indicator of income distribution and standard of living within the state.
Methodology
This data is collected annually by the U.S. Census Bureau through individual income tax filings.
Historical Context
Policymakers and economists use this metric to assess economic conditions and make informed decisions.
Key Facts
- The median AGI for Rhode Island was $53,206 in 2020.
- Rhode Island's median AGI is slightly below the national median of $54,916.
- Incomes vary significantly by region within Rhode Island.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Rhode Island measures the midpoint income level for individual tax filers in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial well-being and purchasing power of Rhode Island residents, which is useful for policymakers, economists, and market 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 filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess economic conditions and make informed decisions about policies that impact Rhode Island residents.
Q: Are there update delays or limitations?
A: The data is released annually with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Rhode Island (MEDAGIRI44A052NCEN), retrieved from FRED.