Estimate of Median Household Income for Delaware
MHIDE10000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81,615.00
Year-over-Year Change
40.33%
Date Range
1/1/1989 - 1/1/2023
Summary
The Estimate of Median Household Income for Delaware is a key economic indicator that measures the middle household income level in the state. It provides insights 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 Estimate of Median Household Income for Delaware represents the income level at which half of households in the state have higher incomes and half have lower incomes. Economists and policymakers use this data to assess the overall standard of living and economic conditions in Delaware.
Methodology
The U.S. Census Bureau collects this data through household surveys and calculates the median income value for Delaware.
Historical Context
Trends in median household income are closely watched by government agencies, businesses, and consumers to gauge the state's economic performance and inform policy decisions.
Key Facts
- Delaware's median household income was $65,627 in 2020.
- Median household income in Delaware is higher than the national average.
- Incomes vary significantly by county and demographic groups within the state.
FAQs
Q: What does this economic trend measure?
A: The Estimate of Median Household Income for Delaware measures the middle income level of households in the state, providing a snapshot of the overall financial well-being of Delaware residents.
Q: Why is this trend relevant for users or analysts?
A: Median household income is a key indicator of a state's economic conditions and living standards, making it highly relevant for policymakers, businesses, and consumers to assess the financial health and purchasing power of Delaware's population.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through household surveys and calculates the median income value for Delaware.
Q: How is this trend used in economic policy?
A: Trends in median household income in Delaware are closely monitored by government agencies, businesses, and consumers to gauge the state's economic performance and inform policy decisions related to taxation, social programs, and economic development.
Q: Are there update delays or limitations?
A: The Estimate of Median Household Income for Delaware is typically released with a 1-2 year lag, and the data may not fully capture rapid changes in economic conditions.
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Citation
U.S. Federal Reserve, Estimate of Median Household Income for Delaware (MHIDE10000A052NCEN), retrieved from FRED.