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
Average Income In The US in 2024
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 $69,717.
- According to a survey from WTC, Employers might offer an average salary increase of 4% for 2024, which is slightly less than the previous year (4.4%).
- The national average U.S. household income in 2021 was $97,962
- The top-paying jobs in 2021, according to BLS data, were physicians ($208,000 median pay), dentists ($182,000), CEOs ($184,000), nurse anesthetists ($189,000), and surgeons ($208,000).
- The median income for men in 2021 was $50,391 compared to $36,726 for women. This represents a 27% pay gap between genders.
- Washington D.C. residents had the highest median income for males in 2021 at $83,567. Arkansas had the lowest at $40,736.
- Two-person family households had an average income of $75,143 in 2021. Four-person households had the highest average income at $105,901.
- Americans aged 56-64 had the highest median income in 2021 at $83,812. Median income peaks in this age range before retirement.
- Asian American households had the highest median income in 2021 at $100,572. White households followed at $74,932. Black households had the lowest median income at $45,870.
- The average income of an American with a Bachelor’s degree for the year 2022 was about $80,478.
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 |
| All Households | 1,29,244. | $71,186. | 1,31,202. | $70,784. |
| Family Households | 83,711. | $90,722. | 84,625. | $91,162 |
| Married Couple | 61,288. | $1,06,582. | 61,435. | $1,06,921 |
| 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. |
| Non-family Households. | 45,533. | $42,607. | 46,937. | $41,797. |
| Female householder. | 23,859. | $37,516. | 24,221. | $35,737. |
| Male householder. | 21,674 | $49,625. | 22,716. | $49,466. |
Source: Census.gov.
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 has 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.
| States. | Average Income. |
| The District of Columbia. | $134,879 |
| Maryland. | $130,850 |
| Massachusetts, | $127,044 |
| New Jersey | $119,883 |
| Virginia | $114,811 |
| Connecticut | $112,717 |
| Minnesota | $112,222 |
| New Hampshire | $111,787 |
| California | $109,260 |
| Utah | $107,811 |
Top 10+ U.S. States Having The Lowest Income.
Below is the table showing the top low-income states of the U.S.
| States | Average Income |
| Mississippi | $66,127 |
| New Mexico | $72,198 |
| Arkansas | $73,595 |
| Louisiana | $75,323 |
| West Virginia | $75,856 |
| Oklahoma | $76,735 |
| Kentucky | $79,926 |
| Alabama | $80,098 |
| Tennessee | $80,185 |
| Wyoming | $80,389 |
Source: Zippia.com
The Average Income in the U.S by Sector
- It is seen that the Engineering sector is likely to earn the highest as compared to the other sectors.
Here is detailed data on average income in the US by sector.
| Job Sectors | Average Salary |
| Engineering | $93,172 |
| Banking, Finance & Insurance | $75,804 |
| Information Technology | $86,173 |
| Healthcare, Pharmaceutical & Social Services | $83,333 |
| Science | $83,719 |
| Architecture & Creative Arts | $52,994 |
| Accounting, Administration & Human Resources | $55,395 |
| Marketing & Sales | $67,074 |
| Legal | $60,484 |
| Journalism & Translation | $48,799 |
| Law Enforcement & Security | $50,514 |
| Hospitality & Travel | $42,576 |
| Construction & Maintenance | $48,321 |
| Childcare & Education | $56,297 |
| Retail, Cosmetics & Customer Service | $37,808 |
| Shipping, Manufacturing & Transportation | $37,561 |
- According to the latest data, the Information Technology sector accounts for 12% of GDP growth. IT jobs are expected to grow 13% from 2020 to 2030, much faster than the average for all occupations.
Let’s have a look at the percent growth across various industries in the USA.
| Drink Manufacturing | Percent of Growth |
| Information technology | 12% |
| Construction | 11% |
| Drink manufacturing | 5% |
| Personal services | 5% |
| Direct retail | 2% |
| Finishing contracting | 8% |
| Real estate | 7% |
| Trucking | 5% |
| Architectural engineering | 8% |
| Healthcare | 7% |
| Financial services | 6% |
| Transportation | 6% |
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) |
| 15-24 years. | $43.5K |
| 25-34 years. | $65.8K |
| 35-44 years. | $80.7K |
| 45-54 years. | $84.4K |
| 55-64 years. | $68.9K |
| 65 and above. | $43.7K |
Source: Zippia.com
- 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. |
| 1 | Wyoming | $59,196 | $37,520 | $21,676 |
| 2 | Alaska | $61,173 | $50,853 | $10,320 |
| 3 | Washington | $65,427 | $50,818 | $14,609 |
| 4 | Alabama | $50,019 | $37,281 | $12,738 |
| 5 | Texas | $51,300 | $40,748 | $10,552 |
| 6 | New Mexico | $47,457 | $36,742 | $10,715 |
| 7 | Arizona | $50,069 | $41,617 | $8,452 |
| 8 | California | $57,475 | $50,313 | $7,162 |
| 9 | Mississippi | $43,078 | $33,323 | $9,755 |
| 10 | New York | $60,813 | $51,992 | $8,821 |
Source: Census.gov.
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 |
|---|---|
| Chief Executives | $213,020 |
| Nurse Anesthetists | $202,470 |
| Pediatricians, General | $198,420 |
| Airline Pilots, Flight Engineers, and Copilots. | $198,190 |
| Dentists and other specialists | $179,400 |
| Dentists, General. | $167,160 |
| Computer and Information System Managers. | $162,930 |
| Architectural and Engineering Managers | $158,970 |
| Podiatrists | $158,380 |
| 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 |
| Shampooers | $25,160 |
| Cooks | $25,490 |
| 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 |
| Cashiers | $26,770 |
| Lifeguards, Recreational protective service workers. | $27,320 |
| Dishwashers | $27,350 |
| 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 |
| 1 | Asian | $101,418 |
| 2 | White | $71,033 |
| 3 | Hispanic | $57,981 |
| 4 | American Indian and Alaska Native | $49,216 |
| 5 | Black | $45,208 |
Source: U.S. Census Bureau.
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 2024 based on their educational level.
| Sr. No | Educational level | Average income |
| 1 | Below 9th grade | $28,294 |
| 2 | 9th grade to 12th grade, no diploma | $31,162 |
| 3 | High School Graduate | $50,401 |
| 4 | Some College (No degree) | $60,980 |
| 5 | Associate degree | $70,450 |
| 6 | Bachelor’s degree | $105,552 |
| 8 | Master’s degree | $124,341 |
| 9 | Professional degrees | $154,333 |
| 10 | Doctoral degree | $162,159 |
Source: Statista.
- 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.
Related Read:
Faqs
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 Statista 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.
- Coursera Plus Discount 2024 » Flat $299 Off (April) - April 5, 2024
- Authority Site System Review (Authority Hacker) 2024 - March 7, 2024
- How To Get A Coursera Scholarship In 2024 - March 6, 2024
