Why This Indicator Matters
One way of understanding the economic health of American families is to observe the total income of the family in the middle of the distribution, otherwise known as median family income. Across the nation in 2021, the median income of families with children was $82,767 (U.S. Census Bureau 2021). Median family income also varies dramatically by family structure, as married couple families with children tend to have higher median income than their single-parent counterparts. Indeed, median family income of married-couple families with children was about $101,560 in 2021, whereas their single-father counterparts had median total family income of $50,942 and single-mother counterparts had just $32,586 (U.S. Census Bureau 2021).
New Hampshire families tended to do better than the national average in terms of median family income across 2017-2021 (5-year estimate), though the patterns across family structure categories remain roughly the same. In New Hampshire, the median family income for families with children was $108,126 in 2021, well above the national median income for families with children cited above ($82,767). Likewise, families headed by married parents had a median income of $132,807, single-father families had a median of $62,054, and single-mother families had a median of $39,964.
Importantly, however, these median incomes for single-parent families are below estimates of required income from MIT’s Living Wage Calculator. A New Hampshire family composed of a parent and child would need approximately $70,533 in order to meet their basic needs for housing, food, child care, medical expenses, transportation, etc. This means that more than half of single-parent families in New Hampshire do not have the required income necessary to meet only these vital needs.
Reference:
U.S. Census Bureau (2021). American Community Survey, Table S1903, 2021 5-Year Estimate.
FAQs
Data Selections
Does median household income include children? ›
Household income includes every member of a family who lives under the same roof, including spouses and their dependents. The incomes of everyone count even if they aren't all used to support the household. Household income also includes anyone living in that home even if they're not related.
How do you calculate median family income? ›
Add up all the household incomes and divide by the number of households. Takes into account all households in an area and is the average income level for the area. Averages are venerable,widely-used statistical measures.
What is the median household income in data USA? ›
Median household income in the United States is $75,149. In 2022, the state with the highest Median Household Income in the United States was District of Columbia with a value of $101,722, followed by Maryland and New Jersey, with respective values of $98,461 and $97,126.
What percentage of Americans make $75,000 a year? ›
Income Brackets in the United States
| Income Bracket* | Percentage of Americans |
|---|
| $75,000-$99,999 | 12.3% |
| $100,000-$149,999 | 16.4% |
| $150,000-$199,999 | 9.2% |
| Over $200,000 | 11.9% |
5 more rowsApr 12, 2024
Median household income refers to the money brought in by all residents of a household who are at least 15 years old. It can help measure the overall trend in income for the U.S., and it also tracks a household's financial health.
Is your child income included in your income? ›
Your dependent's earned income doesn't go on your return. Filing tax returns for children is easy in that respect. If you're the dependent in question, you might be asking, “Do I file taxes if I'm a dependent?” Even if you're a child, filing a tax return might be necessary depending on your income and circ*mstances.
What is the median real family income? ›
Real median household income was $74,580 in 2022, a 2.3 percent decline from the 2021 estimate of $76,330 (Figure 1 and Table A-1).
What is the median income for a middle class family? ›
The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau. Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.
What is the difference between mean and median family income? ›
Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group.
Only 18% of individual Americans make more than $100,000 a year, according to 2023 data from careers website Zippia. About 34% of U.S. households earn more than $100,000 a year, according to Zippia.
What percentile is 200k household income? ›
If you had an income of $200,000, that would put you in the top 12% of household incomes or the top 5% of individual incomes in 2022.
What income is upper middle class? ›
Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range. "The upper middle class has grown...and its composition has changed.
Is 75k a year rich? ›
Is $75,000 a Year Considered Rich? It depends on who you ask. A 2023 Bankrate survey showed that Americans do not feel rich with a salary of $75,000. Rather, respondents said they'd need to earn an average of $233,000 per year to feel financially secure and $483,000 per year to feel rich.
Is 35k a year poverty? ›
The Poverty Threshold in 2024
Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.
Is 100k a good salary in the US? ›
For most individuals and small families, the answer to “Is $100,000 a good salary?” is a resounding “yes.” Cost of living and family size can affect how far $100,000 will go, but generally speaking, you can live comfortably on $100,000 a year. Are you hoping to make the most of your salary?
What is the median income by age group? ›
Average Salary by Age in Each U.S. State
| State | Householder under 25 | Householder 25 to 44 |
|---|
| California | $44,205 | $90,138 |
| Colorado | $43,365 | $87,239 |
| Connecticut | $42,038 | $87,411 |
| Delaware | $36,302 | $74,893 |
11 more rowsMay 23, 2023
A salary of $90,000 is substantially higher than the national median household income, so yes, it's a good salary for a single person. Exactly how good depends on where you live, as the cost of living varies significantly across the U.S.
What is median household income versus average? ›
The average is calculated by adding up all of the individual values and dividing this total by the number of observations. The median is calculated by taking the “middle” value, the value for which half of the observations are larger and half are smaller.
