Over the years, there has been a significant increase in the income of the people in the United States. Along with the income, the average living costs have also increased.
Calculating the average income of individuals in the United States can be challenging as it is based on a diverse range of factors like age, state, gender, educational level, experience, etc.
To know more about How much does average American makes, let us dive into the article
Based on the research conducted, here are some of the top findings for you.
- The average personal income of the people in the United States was found to be around $63,214.
- The average income of an American with a Bachelor’s degree for the year 2022 was about $80,478.
- Chief executives and Nurse Anesthetists were found to be the highest paying jobs, with an average income of about $213,020 and $202,470.
- American people aged 65 years and above earned around $43.7K.
The Median Household Income In The U.S.
- The median household income in the United States for the year 2021 was found to be $70,784, and for the year 2020, it was estimated to be $71,186.
Let us have a look at the table below displaying the types of households and the estimated income for the years 2020 and 2021.
|Types Of Households||2020 Number (In Thousands)||2020Estimated Income||2021Number (In thousands)||2021Estimated Income|
|Female householder with no spouse.||15,461.||$51,554.||15,618.||$51,168|
|Male Householder with no spouse.||6,963.||$70,478.||7,212.||$70,525.|
The Average Income In The U.S. By State.
Income differs as per the state. Different states have different average income rates.
- The district of Columbia, which is not a state, but as per the U.S. Census Bureau, is included among the 50 states’ when listing the median income, is the richest one with an average income of about $134,879.
- Mississippi State having an average income of $66,127 and a median income of $44,836, is the lowest-income state in the United States.
To know the state-wise average income, go through the table provided below.
Top 10+ U.S. States Having The Highest Income.
Here is the list of the top 10 high-income states of the U.S.
|The District of Columbia.||$134,879|
Top 10+ U.S. States Having The Lowest Income.
Below is the table showing the top low-income states of the U.S.
Mean Income In The U.S. By Age.
Income demonstrates a considerable variation depending on your age. The data below presents the age of the individuals and their income.
|Age Of The Individuals.||Income (In Dollars)|
|65 and above.||$43.7K|
- People aged between 45-54 are the highest-earning individuals with a median income of about $84,464.
- Those people aged between 15 and 24 are the lowest-earning individuals, with a median income of around $43,531.
The Average Income In The U.S. By Gender.
Several factors are present that contribute to the differences in the income of males, and females, like industry preferences, work-life balance, etc.
- Wyoming state in the United States, has the highest wage gap of about $21,676 in earnings by males and females.
The below data represents the earnings of males and females in the year 2022 from different states of the U.S.
|Sr. No.||States||Male Earnings||Female Earnings||Income Gap.|
Mean Income By Profession.
Income shows a tremendous variation depending upon the industry you work in.
Most of the highest-paying jobs require advanced degrees, specialized skill sets, and training.
The below data shows the average income of the highest-paying and lowest-paying occupations in the year 2021.
Highest Paying Jobs In The U.S.
Here are the top 10 highest-paying professions and their income.
|Highest Paying Professions||Average Income|
|Airline Pilots, Flight Engineers, and Copilots.||$198,190|
|Dentists and other specialists||$179,400|
|Computer and Information System Managers.||$162,930|
|Architectural and Engineering Managers||$158,970|
|Natural Sciences Managers||$156,110|
Lowest Paying Jobs In The U.S.
Here are the ten lowest-paying professions and their average income.
|Lowest Paying Professions||Average Income|
|Host and Hostesses, Restaurants, coffee shops.||$26,000|
|Fast Food and counter workers||$26,060|
|Amusement and Recreation Attendants.||$26,110|
|Lobby attendants, Ticket takers.||$26,390|
|Lifeguards, Recreational protective service workers.||$27,320|
|Child care provider||$27,680|
Source: U.S. Bureau of Labor Statistics
U.S. Average Income By Race.
The income gap between White and Black Americans is Persistent.
- Looking at the median income as per race, the maximum income of about $100,572 is earned by Asian Americans. In comparison to that, the lowest income of about $46,774 is earned by Black or African Americans.
To know more about the income of individuals in the U.S. as per their race, let us have a look at the table provided below.
|Sr. No||Race||Median Income|
|3||Native Hawaiian and Pacific Islander||$69,973|
|4||Two or more races||$63,854|
|5||Hispanic or Latino||$60,566|
|6||Some other race||$57,671|
|7||American Indian and Alaska Native||$53,149|
|8||African American or Black||$46,774|
Source: U.S. Census Bureau 2022.
U.S. Average Income By Educational Attainment.
Education can be a significant factor on the basis of which the income of the individual varies.
The overall earnings in the field relevant to the study generally tend to be greater for college graduates.
The below data presents the income of individuals in the United States for the year 2022 based on their educational level.
|Sr. No||Educational Level||Average Income|
|1||Below 9th grade||$26,293|
|2||9th grade to 12th grade, no diploma||$27,987|
|3||High School Graduate||$39,976|
|4||Some College (No degree)||$48,555|
|7||Bachelor’s degree or more||$91,892|
Source: U.S. Census.
- As per the data mentioned above, professional degrees related to fields like Pharmacy, Medicine, Law, etc. earn a slightly high income of around $151,348 as compared to that of doctoral or other degrees.
Conclusion: Average Income In The US (2023)
The industry and the position you are working at can highly dictate your income.
The wage gaps and the inequality in income based on gender or race of individuals stay ever-present.
Go through the above article to get a complete insight into how much an Average American makes based on various factors.
What is the average salary of Americans?
As per the reports from the U.S. Bureau of Labor Statistics, the average income of individuals in the United States was found o be $58,261 for the year 2021, and as per Statistica data of 2020, it was found to be $71,456.
What is the average income of individuals 25 years and above?
The income of individuals of 25 years and above depends on various factors like their education level, career, occupation, experience, etc. but on average, it is around $65.8K.
Which state of the U.S. demonstrates the lowest income level?
The Mississippi state of the United States demonstrates the lowest average income of around $66,127.
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