Average Family Income by State 2024 (2024)

FAQs

What is the average income in the US in 2024? ›

What Is the Average US Salary (2024) The national average salary is $63,795. That is the sum of all incomes divided by the number of workers.

Each year, the U.S. Census Bureau compiles a comprehensive report on income and poverty, offering us a momentous insight into the nuanced income patterns across the country. Maryland topped the list for the highest median household income, at $87,063, followed closely by New Jersey and Massachusetts.

The national median household income is $74,580, according to the most recent U.S. Census Bureau Current Population Survey data for 2022. It's a 2.3% decline from 2021 estimates of $76,330.

As of Jun 11, 2024, the average annual pay for the Upper Class jobs category in the United States is $59,699 a year. Just in case you need a simple salary calculator, that works out to be approximately $28.70 an hour. This is the equivalent of $1,148/week or $4,974/month.

Over one-third (37.1%) of U.S. households earned at least $100,000 in 2022. If you want to increase your income, you could develop new skills, negotiate a raise, apply for a new job or promotion, or build another income stream.

Well, it depends. A $40,000 salary may be sufficient for an individual in a low-cost area, but it may not be enough for a family to live comfortably in most parts of the US. Rising inflation has made it more challenging to live on a $40,000 salary, but it still exceeds the poverty threshold for families.

In 2020, according to Pew Research Center analysis, the median for upper income households was around $220,000 and the median for middle income households was slightly above $90,000.

What income is middle class? ›

In a large U.S. city, a middle-class income averages between $52,000 and $155,000. The median household income across all 345 cities is $77,345, making middle-class income limits fall between $51,558 and $154,590.

New Jersey topped a U.S. News & World Report ranking of the richest states in the U.S. The ranking, published in November, used the U.S. Census Bureau's American Community Survey estimates from 2022 to identify states with the highest median household income.

The study revealed that in the most expensive states, families need nearly $300,000 to simply live 'comfortably. ' The least expensive state requires about half that salary - still over $100,000.

On the other side of that, the states where you need the most money to earn a living wage for four people all require an income of more than $100,000. These are all coastal states known for high real estate prices, including Hawaii, Massachusetts, California, New York and Alaska.

Depending on the size of your family or household, an $80,000 salary may comfortably cover your living expenses. If other people in your household, such as children, depend on your income, consider how much it costs to pay for their living expenses in addition to your own.

As of 2022 (the most recent Census data), the average median household income in the U.S. was $73,914, meaning the national range for the middle class is roughly $49,271 to $147,828.

In general, yes. A $75k salary is more than what half of U.S. workers earn, and depending on where you live and your expenses, may be more than enough to live comfortably.

As per United States Census Bureau 2022 data, the mean per capita income in the United States is $37,683, while median household income is around $69,021.