Real Median Household Income in Massachusetts
MEHOINUSMAA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106,500.00
Year-over-Year Change
28.07%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Massachusetts measures the median inflation-adjusted income for all households in the state. It provides insight into the economic well-being and purchasing power of Massachusetts 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
This metric tracks the middle household income level in Massachusetts after accounting for inflation. It is a key indicator of economic prosperity and living standards in the state, used by policymakers and economists to evaluate the financial health of households.
Methodology
The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Historical Context
The real median household income trend is closely monitored to assess the economic conditions and policies affecting Massachusetts consumers and families.
Key Facts
- The real median household income in Massachusetts was $88,310 in 2021.
- Incomes in Massachusetts are consistently higher than the national average.
- Household incomes in the state have grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Massachusetts measures the middle household income level in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the economic well-being and purchasing power of Massachusetts households, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Q: How is this trend used in economic policy?
A: The real median household income trend is closely monitored to assess the economic conditions and policies affecting Massachusetts consumers and families.
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, Real Median Household Income in Massachusetts (MEHOINUSMAA672N), retrieved from FRED.