Average US Income In 2023 — Demographic Insights

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 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 second quarter of 2023.

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):

Year	The Median Annual Income
2015	$42,168
2016	$43,406
2017	$44,827
2018	$46,196
2019	$47,812
2020	$51,305
2021	$52,009
2022	$55,164
2023*	$57,406

*The 2023 value is predicated upon considering the average median weekly income of the US salaried and wage workers in both quarters of 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:

States	Annual U.S. Income
Alabama	$54,193
Alaska	$74,509
Arizona	$66,501
Arkansas	$50,005
California	$77,320
Colorado	$82,427
Connecticut	$78,481
Delaware	$68,341
District of Columbia	$87,539
Florida	$57,333
Georgia	$59,235
Hawaii	$80,038
Idaho	$66,235
Illinois	$73,653
Indiana	$66,200
Iowa	$67,929
Kansas	$72,695
Kentucky	$55,761
Louisiana	$50,079
Maine	$64,054
Maryland	$93,236
Massachusetts	$86,000
Michigan	$63,016
Missouri	$62,000
Montana	$56,180
Nebraska	$72,099
Nevada	$60,001
New Hampshire	$88,130
New Jersey	$85,110
New Mexico	$50,489
New York	$68,624
North Carolina	$60,000
North Dakota	$63,611
Ohio	$60,000
Oklahoma	$52,083
Oregon	$76,000
Pennsylvania	$70,002
Rhode Island	$80,003
South Carolina	$60,000
South Dakota	$69,763
Tennessee	$54,601
Texas	$68,000
Utah	$83,979
Vermont	$67,345
Virginia	$81,500
Washington	$80,500
West Virginia	$52,000
Wisconsin	$66,900
Wyoming	$65,002

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 2023 is $1,183.

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. 

Year	Annual Median Income Of Men In the United States
2015	$47,008
2016	$48,048
2017	$49,036
2018	$51,584
2019	$53,144
2020	$55,744
2021	$57,408
2022	$61,204
2023*	$61,412

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 2023 is $996.

The weekly median income of women in the United States is less than that of men’s. Men earn $187 more every week than women.

The annual median income of women in the United States is $51,931.

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

Year	Annual Median Income of Women In the United States
2015	$37,908
2016	$39,468
2017	$40,040
2018	$41,340
2019	$43,784
2020	$46,488
2021	$48,308
2022	$50,700
2023	$51,931

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:

Age	Annual Median Income
16 to 19 years	$31,772
20 to 24 years	$38,324
25 to 34 years	$52,936
35 to 44 years	$63,596
45 to 54 years	$64,428
55 to 64 years	$63,336
Above 65 years	$54,184

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:

Age Group	White Men	White Women
16 to 24 years	$40,404	$36,140
25 to 54 years	$65,884	$55,016
Above 55 years	$72,176	$54652

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:

Age Group	Black Men	Balck Women
16 to 24 years	$35,412	Black Women
25 to 54 years	$50,804	$47,164
Above 55 years	$53,092	$44,460

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:

Age Group	Asian Men	Asian Women
16 to 24 years	$45,344	$36,296
25 to 54 years	$90,116	$75,192
Above 55 years	$69,368	$58,864

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:

Age Group	Hispanic Men	Hispanic Women
16 to 24 years	$37,284	$40,508
25 to 54 years	$49,608	$43,160
Above 55 years	$49,192	$39,572

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:

Ethnicity	Annual Median Income
White	$58,760
Black	$46,072
Asian	$76,336
Hispanic	$45,136

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:

Family Size	Annual Median Income
2-people	$75,143
3-people	$88,692
4-people	$105,901
5-people	$99,694
6-people	$97,292

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. 

Bracket	Percentage Of U.S. people
Lower Class	29%
Middle Class	52%
Upppar Class	19%

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:

Profession	Annual Median Income
Management, Professional, and Related occupations	$79,612
Service Occupations	$36,972
Sales and Office Occupations	$48,308
Natural Resources, Construction, and Maintenance Occupations	$51,636
Production, Transportation, and Material Moving Occupations	$43,316

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:

Profession	Annual Median Income
Management, Professional, and Related occupations	$92,300
Service Occupations	$41,236
Sales and Office Occupations	$53,248
Natural Resources, Construction, and Maintenance Occupations	$52,364
Production, Transportation, and Material Moving Occupations	$46,956

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:

Profession	Annual Median Income
Management, Professional, and Related occupations	$69,888
Service Occupations	$34,424
Sales and Office Occupations	$45,136
Natural Resources, Construction, and Maintenance Occupations	$34,528
Production, Transportation, and Material Moving Occupations	$35,776

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:

Education	Annual Median Income
Less than a High School Diploma	$22,152
High School Graduates, No College	$27,404
Some College or Associate Degree	$30,628
Bachelor’s Degree	$37,232
Advanced Degree	$46,332

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:

Education	Annual Median Income
Less than a High School Diploma	$19,968
High School Graduates, No College	$24,856
Some College or Associate Degree	$27,768
Bachelor’s Degree	$35,100
Advanced Degree	$44,304

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:

Education	Annual Median Income
Less than a High School Diploma	$24,700
High School Graduates, No College	$30,056
Some College or Associate Degree	$32,864
Bachelor’s Degree	$40,300
Advanced Degree	$49,088

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:

Income	Share Of Americans
Less than $15,000	9.4%
$15,000 to $24,900	8.7%
$25,000 to $34,900	8.1%
$35,000 to 49,900	11.6%
$50,000 to $74,000	16.5%
$75,000 to $99,900	12.2%
$100,000 to $149,900	15.3%
$150,000 to $199,900	8%
More than $200,000	10.3%

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:

Year	The Poverty Rate In The United States
2010	15.3%
2011	15%
2012	15%
2013	14.8%
2014	14.8%
2015	13.5%
2016	12.7%
2017	12.3%
2018	11.8%
2019	10.5%
2020	11.4%

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Conclusion: Average US Income (2023)

The average U.S. income is increasing year by year. From 2015 to 2023, the annual median income of Americans increased by $15,238. 

One trend that could lead to higher incomes is the increasing globalization of the US economy.

However, there are also some trends that could lead to lower incomes in the future. One concern is the automation of jobs. As technology advances, more and more jobs are being automated, which could lead to job losses and lower wages for workers who remain in the workforce. Additionally, the rise of income inequality makes it harder for people to move up the economic ladder.

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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