Median Household Income in Connecticut
MEHOINUSCTA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92,240.00
Year-over-Year Change
41.00%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Connecticut measures the middle-level income for households in the state. It provides insights into the economic well-being and purchasing power of Connecticut 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 Household Income in Connecticut represents the income level at which half of households in the state have higher incomes and half have lower incomes. It is a key indicator used by economists and policymakers to assess the financial health and standard of living in the state.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Median household income trends are closely monitored by government agencies and market analysts to inform economic policies and business strategies.
Key Facts
- Connecticut had a median household income of $78,444 in 2021.
- Median household income in Connecticut is higher than the national average.
- Incomes vary significantly across different regions and demographics within the state.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Connecticut measures the middle-level income for households in the state. It provides insights into the overall economic well-being and purchasing power of Connecticut residents.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a key indicator used by economists, policymakers, and market analysts to assess the financial health and standard of living in Connecticut. It helps inform economic policies, business strategies, and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: Median household income trends are closely monitored by government agencies and analysts to inform economic policies, social programs, and business strategies in Connecticut.
Q: Are there update delays or limitations?
A: The data is updated annually, with a slight delay, and may not capture short-term fluctuations in household incomes.
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Citation
U.S. Federal Reserve, Median Household Income in Connecticut (MEHOINUSCTA646N), retrieved from FRED.