Real Median Family Income in Northeast Census Region
This dataset tracks real median family income in northeast census region over time.
Latest Value
110500.00
Year-over-Year Change
23.56%
Date Range
1/1/1953 - 1/1/2023
Summary
The Real Median Family Income in Northeast Census Region measures the median inflation-adjusted income of families in the Northeastern United States. It is a key indicator of economic well-being and purchasing power for households in this region.
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
This economic trend represents the typical family income level in the Northeast, one of the four major Census regions of the United States. It is used by policymakers, economists, and analysts to assess regional differences in household financial security and consumer demand.
Methodology
The data is collected through the U.S. Census Bureau's annual household surveys.
Historical Context
This metric helps inform regional economic and social policies targeting family financial stability.
Key Facts
- The Northeast has the highest regional median family income in the U.S.
- Incomes in the Northeast have grown steadily but at a slower pace than other regions.
- Median family income reflects the middle value, with half of families earning more and half earning less.
FAQs
Q: What does this economic trend measure?
A: The Real Median Family Income in Northeast Census Region measures the middle inflation-adjusted income level for families living in the Northeastern United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the financial well-being and purchasing power of households in the Northeast, which can inform economic and social policies in the region.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual household surveys.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts use this metric to assess regional differences in household financial security and consumer demand, which can inform economic and social policies targeting family financial stability in the Northeast.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent data, as it is dependent on the Census Bureau's survey collection and reporting schedule.
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Citation
U.S. Federal Reserve, Real Median Family Income in Northeast Census Region (MEFAINUSNEA672N), retrieved from FRED.