By New Strategist Press
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Additional resources for American Incomes: Demographics of Who Has Money
Median household income has grown more slowly in the Midwest than in any other region during the past quarter-century. Between 1980 and 2005, median household income increased only 12 percent in the Midwest compared with a 15 percent increase in the South and a 17 percent gain in the West, after adjusting for inﬂation. In the Northeast, median household income grew 25 percent between 1980 and 2005—more than twice as fast as in the Midwest. Although household incomes in the Midwest have grown more slowly than those in the other regions, the Midwest still has a higher median household income than the South, $45,950 versus $42,138 in 2005.
8 Note: Data for Asians and blacks are for those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Data for non-Hispanic whites are for those identifying themselves as being white alone and not Hispanic. Hispanics may be of any race. “–” means not applicable. 0 Note: Data for Asians and blacks are for those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races.
Html; calculations by New Strategist AMERICAN INCOMES 23 Incomes Fell between 2000 and 2005 for Most Household Sizes Small households have made the biggest income gains since 1980. Between 1980 and 2005, the median income of single-person households climbed by a substantial 30 percent, after adjusting for inﬂation. Behind the rise in the median income of people who live alone is the improving economic wellbeing of the nation’s older Americans. People aged 55 or older head most single-person households.