Median Household Income in Mississippi
MEHOINUSMSA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,060.00
Year-over-Year Change
34.00%
Date Range
1/1/1984 - 1/1/2023
Summary
The Median Household Income in Mississippi measure tracks the midpoint of income distribution for all households in the state. It is an important economic indicator used to analyze standards of living and economic well-being.
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 Mississippi represents the income level at which half of Mississippi households have higher incomes and half have lower incomes. It is a key metric for evaluating regional economic conditions and trends in personal prosperity.
Methodology
The data is collected through the U.S. Census Bureau's annual surveys of households.
Historical Context
This metric is widely referenced by economists, policymakers, and analysts to inform economic and social policy decisions.
Key Facts
- Mississippi's median household income was $45,792 in 2021.
- The state's median income is lower than the U.S. national average.
- Household incomes vary significantly by region within Mississippi.
FAQs
Q: What does this economic trend measure?
A: The Median Household Income in Mississippi measures the midpoint of income distribution for all households in the state. It represents the income level at which half of households have higher incomes and half have lower incomes.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of regional economic well-being and living standards. It is widely used by economists, policymakers, and analysts to assess economic conditions and inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual surveys of households.
Q: How is this trend used in economic policy?
A: Median household income is a key input for evaluating regional economic conditions and developing policies to address income disparities and promote prosperity.
Q: Are there update delays or limitations?
A: The data is released annually by the U.S. Census Bureau with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Median Household Income in Mississippi (MEHOINUSMSA646N), retrieved from FRED.