Real Median Household Income in North Carolina
MEHOINUSNCA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,610.00
Year-over-Year Change
15.54%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in North Carolina is a key economic indicator that measures the inflation-adjusted median income of households in the state. It provides important insights into the financial well-being and purchasing power of North Carolina 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 Real Median Household Income in North Carolina represents the midpoint of the income distribution, where half of households earn more and half earn less. It is a widely used metric for analyzing trends in household prosperity and evaluating the economic conditions faced by typical North Carolina families.
Methodology
The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Historical Context
Policymakers and analysts closely monitor this metric to assess the state's economic performance and inform decisions around fiscal, social, and development policies.
Key Facts
- North Carolina's real median household income was $56,642 in 2021.
- Household incomes in North Carolina have grown by 18% since 2010.
- The state's median income lags the national average by around $5,000.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in North Carolina measures the inflation-adjusted midpoint of the income distribution for households in the state.
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 typical North Carolina families, making it a key indicator for evaluating the state's economic conditions.
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: Policymakers and analysts closely monitor this metric to assess North Carolina's economic performance and inform decisions around fiscal, social, and development policies.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, typically 1-2 years after the reference year.
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Citation
U.S. Federal Reserve, Real Median Household Income in North Carolina (MEHOINUSNCA672N), retrieved from FRED.