Household income in the United States
The median income divides households in the US evenly in the middle with half of all household earning more than the median income and half of all households earning less than the median household income. In 2004 the median household income in the United States was $43,389. According to the US Census Bureau, the median is "considerably lower than the average, and provides a more accurate representation." Considering other racial and geographical inequities in regards to household income, it should come as no surprise that the median household income varies with race, size of household and geography. The state with the highest median household income in the United States was New Hampshire with $57,352, followed by New Jersey, Maryland and Connecticut, making the Northeastern United States the wealthiest area by income in the entire country. In terms of region the median household income was as follows: "Northeast ($47,994), West ($47,680) and South ($40,773)." Median household income in the Mid-West declined by 2.8% to $44,657. The exception was the Midwest, where income declined 2.8 percent, to $44,657. While median household income has tendency to increase up to four persons per household, it declines thereon after. This indicated that while four person households have larger incomes than those with one, two or three members, household with seem to earn progressively less as their size increases beyond four persons. According to the US Census Bureau 2004 Community Survey, two-person households had a median income of $39,755, with $48,957 for three-person households, $54,338 for four-person households, $50,905 for five-person households, $45,435 for six-person households, with seven-or-more-person households having the second lowest median income of only $42,471. In terms of race, Asian-Americans households had the highest median household income of $57,518, European-American households ranked second with $48,977, Hispanic or Latino households ranked third with $34,241. African American or Black households had the lowest median household income of all races with $30,134.