Median Household Income in Delaware
MEHOINUSDEA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86,340.00
Year-over-Year Change
57.96%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Delaware measures the midpoint income level for all households in the state. This key economic indicator provides insight into the financial well-being and purchasing power of Delaware 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 Delaware represents the income level at which half of households in the state earn more and half earn less. It is a widely used metric for evaluating income distribution and standards of living within a geographic area.
Methodology
This data is collected through the U.S. Census Bureau's annual surveys of American households.
Historical Context
Median household income is a critical input for policymakers and analysts assessing economic conditions and trends in Delaware.
Key Facts
- Delaware's median household income was $71,106 in 2021.
- Median incomes in Delaware are 13% higher than the national average.
- Household incomes have grown by 23% in Delaware over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Delaware measures the midpoint income level for all households in the state. It represents the income at which half of households earn more and half earn less.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a key indicator of the financial well-being and purchasing power of Delaware residents. It provides valuable insights into income distribution and standards of living within the state.
Q: How is this data collected or calculated?
A: This data is collected through the U.S. Census Bureau's annual surveys of American households.
Q: How is this trend used in economic policy?
A: Median household income is a critical input for policymakers and analysts assessing economic conditions and trends in Delaware. It informs decisions around taxation, social programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of about a year, so the most recent figures may not fully reflect the current economic environment.
Related Trends
Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Delaware
DEPROBUSQQGSP
All Employees: Trade, Transportation, and Utilities in Delaware
DETRAD
All Employees: Manufacturing: Non-Durable Goods in Delaware
SMS10000003200000001
Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Delaware
DEADMINWASTQQGSP
Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Delaware
DETRANSUTILQGSP
Gross Domestic Product: Accommodation (721) in Delaware
DEACCOMDNGSP
Citation
U.S. Federal Reserve, Median Household Income in Delaware (MEHOINUSDEA646N), retrieved from FRED.