SEPT. 9, 2025 — The U.S. Census Bureau today announced that real median household income was $83,730 in 2024, not statistically different from the 2023 estimate of $82,690. The report contains more info on how median household income changed according to other characteristics like age, nativity and educational attainment. Real median household income rose to $80,610 in 2023, the first annual increase since 2019 before the COVID-19 pandemic, according to a U.S. This is especially significant among those with a bachelor’s degree, who are more likely to be married and to live with others with high levels of education, which can further boost household income.
In addition, a household can include members besides the householder who contribute to household income. The Current Population Survey Annual Social and Economic Supplement (CPS ASEC) released today measures educational attainment of householders age 25 and older and shows education has a significant impact on household income. Between 2004 and 2024, earnings of those with a high school degree but no college rose 3.2%, while earnings of those with a bachelor’s degree or more went up 6.3%. However, the income gap between those with college degrees and those with high school degrees but no college widened over the last two decades. Median household income in the United States for householders age 25 and over was $85,580 in 2024 — marking an 18% increase from 2004.
The female-to-male earnings ratio compares the median earnings of women and men, both working full-time, year-round. Income estimates are based on the concept of money income and do not account for the value of in-kind transfers. The Census Bureau has published poverty estimates using the SPM annually since 2011 in collaboration with the U.S. The official poverty rate fell 0.4 percentage points to 10.6% in 2024. We calculated the share of each individual’s total income from each of the five income categories and averaged those shares for all individuals with a given set of characteristics. For example, income from government transfer programs on average accounted for only 2% of total income among U.S. adults ages 18 and older in 2022.
Data Tables
- This new tool highlights the detailed sources of income and sociodemographic information collected in the SIPP and how they can be combined to better understand income dynamics.
- By doing so, investors, management, and others can fully understand how an organization is performing financially and make informed decisions accordingly.
- It joins other data tools such as Who Is Receiving Social Safety Net Benefits?
- The same holds true of the earnings of those who worked full-time, year-round.
- Tables showing state-level poverty and SPM rates using three-year averages are available in the press kit.
First, household income includes many sources of income not captured by earnings, such as Social Security, interest and dividends. By 2024, due to differences in earnings growth by education, median earnings of adults age 25 and older with a bachelor’s degree or higher were 1.8 times those with a high school degree but no college, up from about 1.7 times in 2004. In 2004, the median earnings of full-time, year-round workers age 25 and over with a high school degree was $49,050, compared to $85,810 for those with a bachelor’s degree or higher. Median household income accounts for all pretax money income streams (earnings and other income, like Social Security, interest or dividends) for all members of a household.
The SPM extends the official poverty measure by accounting for several government programs designed to assist low-income families that are not included in official poverty measure calculations. The ratio of Hispanic to non-Hispanic White household income decreased from 0.77 in 2022 to 0.74 in 2023, widening the median income gap between the two groups. This ratio was down from 1.34 in 2022, narrowing the median income gap between Asian and non-Hispanic White households.
Income, Poverty and Health Insurance Coverage in the United States: 2024
An estimated 27.1 million or 8.0% of people did not have health insurance at any point during 2024, according to the 2025 Current Population Survey Annual Social and Economic Supplement (CPS ASEC). The content on this page includes a link to a non-government website. Designed to improve access to Census Bureau economic well-being data. It joins other data tools such as Who Is Receiving Social Safety Net Benefits? This new tool highlights the detailed sources of income and sociodemographic information collected in the SIPP what you need to know about controller salaries and jobs and how they can be combined to better understand income dynamics.
How does the share of income from earnings differ between men and women with similar levels of education? If a family’s total income is less than the official poverty threshold for a family of that size and composition, then they are considered to be in poverty. The ratio of Black to non-Hispanic White household income in 2023 (0.63) was not statistically different from 2022 (0.65).
Female-to-Male Earnings Ratio
Median income of Asian households did not change either but it remained the highest ($112,800) among all race and Hispanic origin groups. The only group with higher income in 2023 was non-Hispanic White households, with an increase of 5.7% to $89,050. For example, estimates for Hispanic households represent households where one of the owners or renters is Hispanic. Survey and census questions cover poverty, income, and wealth. Share sensitive information only on official, secure websites.
- Median income of Asian households did not change either but it remained the highest ($112,800) among all race and Hispanic origin groups.
- There was also no significant increase in income for those with some college education between 2004 and 2024.
- Estimated median household income of householders with only a high school degree didn’t change significantly from 2004 ($58,410) to 2024 ($58,920).
Users can select from hundreds of demographic and economic characteristic combinations to explore the make-up of the total income different groups receive. How do income sources change with age for adults with disabilities? Public assistance refers to assistance programs that provide either cash or in-kind benefits to individuals and families from any governmental entity. Get an alert directly in your inbox to read, share and blog about our newest stories.
Supplemental Poverty Measure
Numerous other analyses can be performed as part of any comparative company analysis using the income statement. For an investor looking to purchase shares of a technology manufacturer, comparing the statistics of these two companies yields a number of insights that are not obvious if viewed on a standalone basis. In this type of analysis, income statement metrics such as total revenue growth and gross profit margin are calculated for similar companies within an industry and compared to one another. Income statements are meant to provide users with insights into the financial performance of an organization. Because of this, it is critical for users to have a sound understanding of the story every income statement is trying to tell. It is one of what is gross sales the most heavily scrutinized financial statements issued by every organization.
As defined by the Office of Management and Budget (OMB) Statistical Policy Directive 14 and updated for inflation using the Consumer Price Index, the weighted average poverty threshold for a family of four in 2024 was $32,130. Post-tax income is defined as money income net of federal and state taxes and credits, as well as payroll taxes (FICA). Since response rates remain below pre-pandemic levels, examining how respondents differ from nonrespondents is important, as this difference could affect the accuracy of the estimates. All three reports are based on data from the CPS ASEC. The SPM provides an alternative way of measuring poverty in the United States and serves as an additional indicator of economic well-being.
Health Insurance
There was also no significant increase in income for those with some college education between 2004 and 2024. All estimates here are presented in 2024 inflation-adjusted dollars. Tables showing state-level poverty and SPM rates using three-year averages are available in the press kit. The CPS ASEC asks people about health insurance coverage during the previous calendar year. The SPM, which also accounts for geographic variation in housing expenses when calculating the poverty thresholds, includes federal and state taxes, work expenses, and medical expenses.
Data
She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies. Published measures of sampling uncertainty for 2004 estimates (not adjusted for inflation) can be found here. The same holds true of the earnings of those who worked full-time, year-round. To show the relationship between education and employment outcomes, we also looked at individual earnings of those working full-time (35 hours or more a week), year-round (50 weeks or more). In recent decades, growth in the population with a bachelor’s degree or higher has been concentrated among racial and ethnic groups with historically low attainment.
During the 20-year period, households headed by someone with a bachelor’s degree or higher saw greater gains in median household income than those with a high school degree but no college. By 2024, householders with a bachelor’s degree or higher had median household income 2.3 times higher than those with a high school degree. Estimated median household income of householders with only a high school degree didn’t change significantly from 2004 ($58,410) to 2024 ($58,920). However, the gaps between those with a bachelor’s degree or higher and those with a high school degree but no college were larger for household income than for individual earnings. Appendix B of the income report provides post-tax estimates of median household income and income inequality metrics. In 2004, households headed by those with at least a bachelor’s degree had about twice as much income as those headed by someone with a high school degree but no college.
Household characteristics are determined by the person, or one of the people, who owns or rents the home. An interactive application for exploring data from the Small Area Income and Poverty Estimates (SAIPE) program. This section provides information on a range of educational topics, from educational attainment and school enrollment to school districts, costs and financing.
Understand and Analyze Income Statements: A Comprehensive Guide
Overall, the income gap between householders with a bachelor’s degree or higher and those with a high school degree but no college widened during the 20-year period. By contrast, households at the opposite ends of the education spectrum saw what is a financial guarantee their median income rise. Median household income is the midpoint where half of households make more in income, and half make less.
Numerous metrics and analyses can be developed with this data to provide more in-depth assessments of the organization. Though this represents the minimum amount of data that must be provided, additional details for each section are frequently included to give users more insight into the organization’s financial activities. The income statement, also known as the profit and loss (P&L) statement, is the financial statement that depicts the revenues, expenses and net income generated by an organization over a specific period of time. However, it does provide a different metric of economic well-being that includes resources from government programs and tax credits to low-income families. The SPM does not replace the official poverty measure.