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? ›
Income in the Past 12 Months - Income of Households: This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not.
How do you calculate median family income? ›
Median Household Income. Household income is the total income of all members of a household aged 15 and older, whether they are related or not. To determine the average household income, all household incomes are added up and divided by the total number of households.
What is the median household income in data USA? ›
13 with the latest U.S. Census Bureau data. The national median household income is $74,580, according to the most recent U.S. Census Bureau Current Population Survey data for 2022. It's a 2.3% decline from 2021 estimates of $76,330. » MORE: What is the minimum wage?
What percentage of Americans make $75000 a year? ›
Only 12.3% of Americans make in the $75,000 to $99,999 range. An additional 16.4% make between $100,000 and $149,000. However, a large portion of Americans (16.2%) earn in the $50,000 to $74,999 range.
Is median household income one or two people? ›
(Cases Filed Between April 1, 2022 and May 14, 2022, Inclusive)
| . | | FAMILY SIZE |
|---|
| STATE | 1 EARNER | 2 PEOPLE |
|---|
| California | $65,895 | $87,355 |
| Colorado | $70,952 | $92,321 |
| Connecticut | $72,497 | $94,528 |
51 more rowsApr 1, 2022
Include them only if you'll claim them as tax dependents. Include parents only if you'll claim them as tax dependents. Include them only if you'll claim them as tax dependents. Include your legally married spouse, whether opposite sex or same sex.
What is the median income for a middle class family? ›
In California's Bay Area of San Francisco, Oakland and Berkeley, families making between $77,000 and $232,000 are considered middle class. For California's Inland Empire region of Riverside, San Bernardino and Ontario, the range falls between $51,000 and $154,000.
Who has the highest median family income? ›
The states with the highest median household income are Maryland, New Jersey, and Massachusetts.
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.
In 2022, over 34% of American households made over $100,000. This puts you in the top 24% of the US population.
What are the 5 income classes? ›
Where you rank by income
- Lower class: less than or equal to $30,000.
- Lower-middle class: $30,001 – $58,020.
- Middle class: $58,021 – $94,000.
- Upper-middle class: $94,001 – $153,000.
- Upper class: greater than $153,000.
A $200,000 household income is more than most people earn across the U.S. In fact, just 12% of U.S. households earn $200,000 or more annually, according to Census Bureau data.
Is 25k a year poverty level? ›
The U.S. Department of Health and Human Services uses the Census Bureau threshold to determine who is eligible for certain government assistance programs, like SNAP (food stamps). Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year.
How many U.S. citizens make 100k a year? ›
The median salary in the US is $44,225 in 2022.
The majority of Americans (54.98%) make $50k per year or less, while only 18% of individual Americans make $100k per year or more. In this way, Americans are far more likely to earn less than $50k per year than they are to earn over $100k.
What is considered a good salary in 2024? ›
“Regarding the salary Americans should target to live comfortably, it's more complex than suggesting a one-size-fits-all number,” Stern stated. “A salary range of $80,001 to $95,000 is more reasonable for living comfortably, this aligns more closely with the reality in high-cost living areas.”
Does my child's income count? ›
Share: If you have a dependent who's earning income, good news — you can still claim them as a dependent so long as other dependent rules still apply. Your dependent's earned income doesn't go on your return. Filing tax returns for children is easy in that respect.
What's the difference between household income and family income? ›
A family of four living together is also a “Household”, and so is a single person living by himself. “Family Income” is the combined income of related people in a household. So, a married couple with kids is a “Family”. However, a single person is not a family and three roommates living together is not a family.
How much does a family of 4 need to make? ›
Out of all 99 cities SmartAsset examined, a family of four would need a median of $226,886 to live comfortably. In Houston, the income needed drops to $175,219 — the lowest of all cities examined.
