Median Income by State 2024

Discussion in 'Economics' started by VicBee, Jun 25, 2024.

  1. schizo

    schizo

    In case your math/stat thingy is getting rusty...

    [​IMG]
     
    #11     Jun 25, 2024
    Lou Friedman and murray t turtle like this.
  2. VicBee

    VicBee

    It's really difficult in US data sources to corroborate median personal income; all are based on family income unlike Euro data that is always based on personal income and makes more sense.

    "In calculating household income, the U.S. Census Bureau includes all pre-tax cash income of all individuals age 15 years or older belonging to a household, regardless of whether they are related to each other.". https://www.investopedia.com › h...

    Percentage of Households Making Over 100k 2024
    California 39.8%
    https://worldpopulationreview.com › ...

    2023 Per Capita Personal Income
    Rank State PCPI ($)
    California $80,423
    https://www.statsamerica.org › sip

    I don't know if this helps confirm or challenge Statista's data. California income, personal or household is pretty high.
     
    #12     Jun 26, 2024
  3. TheDawn

    TheDawn

    I was thinking the same thing. How can Alaska be so rich??!! And looks like the Bible states are still the poorest in the country. I guess believe in God doesn't help much.
     
    #13     Jun 26, 2024
    ironchef and murray t turtle like this.
  4. Specterx

    Specterx

    CA also has the highest poverty rate in the country when adjusted for cost of living. And you can readily see it in the drifting hordes of vagrants in DTLA, Oakland and the Tenderloin.

    It looks to me like the graphic-makers meant to adjust the coastal states downward and
    the flyovers upward to account for the astronomical CoL in the former, but instead they did the opposite.
     
    #14     Jun 26, 2024
  5. VicBee

    VicBee

    Thanks to Wikipedia:

    Overall, out of Americans for whom the Census Bureau was able to determine poverty status, 42.31 million lived below the poverty line (or 13.15% of the total population).
    Poverty rates were highest in the states of Mississippi (19.58%),
    Louisiana (18.65%),
    New Mexico (18.55%),
    West Virginia (17.10%),
    Kentucky (16.61%),
    Arkansas (16.08%),
    and they were lowest in the states of
    New Hampshire (7.42%),
    Maryland (9.02%),
    Utah (9.13%),
    Hawaii (9.26%).

    Red states vs blue states? I don't see CA anywhere. Perhaps you haven't seen true poverty. Street vagrants are zombie drug addicts.
     
    #15     Jun 26, 2024
  6. Specterx

    Specterx

    Census bureau supplemental poverty measure (right side of the table, which takes into account CoL):
    https://www2.census.gov/programs-surveys/demo/tables/p60/280/tableB-5.xlsx

    DC is highest followed by CA.

    One can quibble about the methodology, that’s not the point. The point is that a graphic which purports to show “median income adjusted for cost of living” and has CA at almost twice the level of TX is nonsensical. CoL-adjusted differences in incomes by state should be lower, not higher than nominal differences.
     
    #16     Jun 26, 2024
    TheDawn likes this.
  7. SunTrader

    SunTrader

    Pop quiz: Which state in 2023 (I had to google it) produced the second most oil, after Texas of course?












    New Mexico
     
    #17     Jun 26, 2024
  8. 2rosy

    2rosy

    FL has a lot of retirees living off low incomes. It would be nicer to know what is the median income of working people total and by demographics
     
    #18     Jun 26, 2024
    murray t turtle likes this.
  9. %%
    I SEE your points.
    ACTUALLY believe it or not/ LOL, was doing a study on that in a book[2008 LOL]
    a]From memory remembered NJ low tax rate paid off
    b]EVEN if all the low or no state income tax rate states are not #1 like 'em anyway.
    c] Counties are even more interesting,2006 - 2008
    NY NY $93k, NJ Counties
    Teton Co WY $89k
    Some TX counties /great; TX counties along RIO Grande, not so grande:caution::caution:
    6]One elite trader must a have though with prayer he gets a key to FT KNOX
    .LOL Try working 6 days a week + Dave ramesy budget.
    777] Takes a lot more than any kind of mental belief or pro attitude:D:D
     
    #19     Jun 26, 2024
    TheDawn likes this.
  10. ironchef

    ironchef

    Why not? A MCD worker gets $20/hr and that sets the floor for wages.

    If min wage in CA pays ~ $40K, not difficult to get the median @ $125K
     
    #20     Jun 26, 2024