Average US Income — Demographic Insights & More (2024)

The average income in the United States is a key economic indicator that can provide insights into the overall health of the economy and the well-being of American families.

While the average income has been increasing steadily in recent years, it is important to note that there is a wide range of incomes within the US population, and the average income is not representative of what a typical family earns.

What Can You Expect In This Post?

In this blog post, we will cover the following topics:

• The average income in the US.
• The average income in the country over the years.
• The average income in the different states of the US.
• The average income of different age groups among different races.
• The average income of US families.
• The average income in the US for different jobs and qualifications
• The average income in the US is based on social class.

What Is The Average Income In U.S.A. In 2023?

According to the U.S. Bureau Of Labor Statistics, the median weekly earnings of the 121.5 million full-time workers in the United States is $1,101 as of the beginning of 2024.

Note: This data represents earnings before taxes and other deductions and includes any overtime pay, commissions, or tips usually received (at the main job in the case of multiple jobholders).

This table shows the median annual income of the US over the years (2015-2023):

The median annual income in the US has been on the positive side consistently since 2015, It rose by $15,238 during the same period.

Additionally, the median household income in the United States is $74,580.

Let’s get more detail on annual income in the U.S. in the following sections.

Average U.S. Income By State

Maryland has the highest annual median income in the United States, with $93,236 in value.

Here is a table showing the median annual income in different states of the United States:

Average U.S. Income By Gender

Let us take a closer look at the pay gap between men and women in the United States in this section.

Average Median Income of Men in The United States

According to the official reports, the average weekly median income of men in the United States as of 2024 is $1,208.

The weekly median income of men in the United States was $1,181 in the first quarter and $1,185 in the second quarter of 2023.

Considering this weekly income and calculating annual median income, men’s average annual median income is $61,681 in the United States.

Here is a table showing men’s average annual median income in the United States from 2015 to 2023.

Average Median Income of Women in The United States

According to the official reports, the average weekly median income of women in the United States as of 2024 is $1,005.

The weekly median income of women in the United States is less than that of men. Men earned $187 more every week than women in 2023. The annual median income of women in the United States was $51,931 in 2023.

Here is a table showing women’s average annual median income in the United States from 2015 to 2023.

Average Income In the U.S. By Age

The age group of people between 45 to 54 earns the most in the United States. Their annual median income is $64,428 as of 2023.

Here is a table showing the annual median income in the United States based on age groups:

People aged between 16 and 19 years earn the least among all age groups, with a $31,772 annual median income.

Average Income In The U.S. of Men and Wowen of Different Ages Among Races

This section has a detailed breakdown of the average income of men and women of different age groups belonging to different races.

Average Income of White American Men and Women

Here is a table showing the annual median income of White men and women in the United States by age:

Average Income of Black American Men and Women

Here is a table showing the annual median income of Black men and women in the United States by age:

Average Income of Asian American Men and Women

Here is a table showing the annual median income of Asian men and women in the United States by age:

Average Income of Hispanic American Men and Women

Here is a table showing the annual median income of Hispanic men and women in the United States by age:

Average U.S. Income By Ethnicity

White people’s weekly median income is $1,130 in the United States as of 2023.

That means the annual median income of white people is $58,760.

Asian people’s annual median income is the highest in the United States as of 2023, with $76,336.

Here is a table showing the annual median income in the United States as of 2023 by Ethnicity:

White women in the United States earn $1,007 weekly as of 2023. That means their annual median income is $52,364.

Average Income of US Families

Before we start, you should understand that the average income of US families varies depending on a number of factors, including household size, race and ethnicity, education level, and location. For example, families with children tend to have lower incomes than families without children. Additionally, families headed by single parents tend to have lower incomes than married-couple families.

Let us take a closer look at how much US families are earning on average in 2023 in this section.

US Families with two people have an annual median income of $75,143 as of 2023.

Here is a table showing the annual medium income in the United States by family size:

Average Income in The US by Bracket

29% of Americans are considered lower class by their income.

Here is a table showing the U.S. population income by bracket.

Average Income In The United States Based on Profession.

People in Management, professionals, and related occupations earn $1,531 weekly in the U.S. as of 2023, and their annual median income is $79,612.

Here is a table showing the annual median income in the U.S. by profession:

Men in Production, Transportation, and Material Moving Occupations earn $903 weekly in the U.S. as of 2023, and their annual income is $46,956.

Here is a table showing the annual median income of Men in the U.S. by profession:

Women in Sales and Office Occupations earn $868 weekly in the U.S. as of 2023, and their annual income is $45,136.

Here is a table showing the annual median income of Women in the U.S. by profession:

Average U.S. Income By Education

People with advanced degrees earn $891 weekly in the U.S. as of 2023, and their annual income is $46,332.

Here is a table showing the average median income in the U.S. by Education:

Women with advanced degrees earn $852 weekly in the U.S. as of 2023, and their annual income is $44,304.

Here is a table showing the average median income in the U.S. by Education:

Men with bachelor’s degrees earn $775 weekly in the U.S. as of 2023, and their annual income is $40,300.

Here is a table showing the average median income in the U.S. by Education:

Share of American Population Based on Income

9.4% of Americans earn under $15,000 annually, while 16.5% earn between $50,000 to $74,900.

Here is a table showing the percentage of American people by their income:

Poverty Rate In The U.S.

In 2020, the poverty rate was 11.4% in the United States. This rate was at its lowest in 2019, with 10.5%.

Here is a table showing the poverty rate in the United States from 2019 to 2020:

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Source Disclaimer

Sage Note: We have sourced the data in this post from various sources. Some notable ones are:

• U.S. Department of Justice
• United States Census Bureau
• U.S. Bureau of Labor Statistics

And other third-party publishers. We made sure to do the math to the closest values and provide you with accurate insights.

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