what is the average income in the u.s
Household income in the United States Another common measurement of personal income is the mean household income. Unlike the median household income, which divides all households in two halves, the mean income is the average income earned by American households. In the case of mean income, the income of all households is divided by the number of all households.[22] The mean income is usually more affected by the relatively unequal distribution of income which tilts towards the top.[23] As a result, the mean tends to be higher than the median income, with the top earning households boosting it. Overall, the mean household income in the United States, according to the US Census Bureau 2014 Annual Social and Economic Supplement, was $72,641.[24]
Washington, D.C. A 2007 report found that about one-third of District residents were functionally illiterate, compared to a national rate of about one in five. This is attributed in part to immigrants who are not proficient in English.[110] As of 2011[update], 85% of D.C. residents age 5 and older spoke English at home as a primary language.[111] Half of residents had at least a four-year college degree in 2006.[106] D.C. residents had a personal income per capita of $55,755; higher than any of the 50 states.[112] However, 19% of residents were below the poverty level in 2005, higher than any state except Mississippi.[113]
Income inequality in the United States Most of the growth in income inequality has been between the middle class and top earners, with the disparity widening the further one goes up in the income distribution.[27] The bottom 50% earned 20% of the nation's pre-tax income in 1979; this fell steadily to 14% by 2007 and 13% by 2014. Income for the middle 40% group, a proxy for the middle class, fell from 45% in 1979 to 41% in both 2007 and 2014.[28]
The Millionaire Next Door This book is a compilation of research done by the two authors in the profiles of 'millionaires' (note the term 'millionaire' denotes U.S. households with net-worths exceeding one million dollars (USD)).