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:
And other third-party publishers. We made sure to do the math to the closest values and provide you with accurate insights.
FAQs
16.5% of Americans earn between $50K to $74.9K, and 12.2% earn between $75K to $99.9K.
The average American salary is $97,962, and the median annual wage is $69,717.
18% of people in the United States make over $100K annually, and 34.4% of households in the United States make more than 100K.
According to the U.S. Bureau of Labor Statistics, Chief Executives and Airline Pilots have the highest-paid positions.
Shampooers and Fast Food cooks are the lowest paying jobs in the United States, with $25,160 and $25490, respectively.