Estimate of Median Household Income for Indiana
MHIIN18000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69,458.00
Year-over-Year Change
49.66%
Date Range
1/1/1989 - 1/1/2023
Summary
The Estimate of Median Household Income for Indiana measures the middle household income level in the state. This metric is important for assessing economic well-being and informing policy decisions.
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 Indiana represents the midpoint of the income distribution for all households in the state. It is a key indicator of the typical living standard and purchasing power of Indiana residents.
Methodology
This estimate is calculated annually by the U.S. Census Bureau based on survey data.
Historical Context
Policymakers and analysts use this metric to track changes in household financial security and living costs over time.
Key Facts
- Indiana's median household income was $56,303 in 2021.
- Median income in Indiana is below the national average.
- Household incomes have risen steadily in Indiana since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: The Estimate of Median Household Income for Indiana measures the middle household income level in the state. It represents the income at which half of households earn more and half earn less.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of typical living standards and purchasing power for Indiana residents. It informs policymakers and analysts about economic well-being and financial security in the state.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau calculates this estimate annually based on survey data from households in Indiana.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the Estimate of Median Household Income for Indiana to track changes in household financial health and inform decisions around taxation, social programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: This metric is published annually with a slight delay, as the underlying survey data must be collected and processed by the Census Bureau.
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Citation
U.S. Federal Reserve, Estimate of Median Household Income for Indiana (MHHIN18000A052NCEN), retrieved from FRED.