The Census Bureau's annual household income report for 2023 was published last year. We've now compiled a few tables for the 50 states and DC based on the Current Population Survey, a joint undertaking of the Census Bureau and Bureau of Labor Statistics, which includes annual data from 1984 to 2023. The details are fascinating.
The median US income in 2023 was $80,610, up from $22,420 in 1984 — a 260% rise over the 39-year time frame. However, if we adjust for inflation chained in 2023 dollars, the 1984 median is $55,828, and the increase drops to 37%.
Peak Income Years
The peak annual median income for the US is less than 1% off its 2019 peak. Here is an alphabetically sorted table showing the data for the 50 states and DC along with the US median data.
The alphabetical listing above makes it easy to find individual states, but for some additional insight, let's sort the data based on the decline from the peak year.
The median household incomes in 11 states, as well as the District of Columbia, have fared better than the US median as measured by the real percent declines from their respective peak years. A total of 39 states have suffered greater declines, with 6 states dropping more than 10%. Idaho is the biggest loser, down 14.2% since its real median income peak in 2021.
