Real Median Household Income in Utah
MEHOINUSUTA672N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101,200.00
Year-over-Year Change
38.84%
Date Range
1/1/1984 - 1/1/2023
Summary
The Real Median Household Income in Utah measures the inflation-adjusted median income for households in the state. This metric is a key indicator of economic well-being and purchasing power for Utah 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 Utah represents the midpoint of the income distribution for all households in the state, adjusted for inflation. It is a widely used statistic to assess the financial health and standard of living for Utah's population.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey and adjusted for inflation using the Consumer Price Index.
Historical Context
This economic indicator provides valuable insights for policymakers, researchers, and businesses to understand trends in Utah's consumer demand and household financial conditions.
Key Facts
- Utah's real median household income was $77,800 in 2021.
- Incomes in Utah are 19% higher than the national median.
- Real incomes have grown by 12% in Utah over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Real Median Household Income in Utah measures the inflation-adjusted midpoint of the income distribution for all households in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the financial well-being and purchasing power of Utah residents, which is valuable for policymakers, businesses, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey and adjusted for inflation using the Consumer Price Index.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand trends in Utah's consumer demand, cost of living, and overall economic conditions.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Real Median Household Income in Utah (MEHOINUSUTA672N), retrieved from FRED.