According to a recent survey by the Census Bureau, the U.S. median household income increased by 4% between 2022 and 2023, marking the first significant rise since 2019. From 2018 to 2019, the median income grew by 7% but then stagnated until 2023. South Dakota led the way with a 17% rise. Population growth and higher-earning households moving into South Dakota contributed to this surge. Maryland saw the largest decline, with a 9% drop due to the loss of high earners and slow economic growth.
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00:00It's Benzinga, and here's what's on the block.
00:02The U.S. median household income increased by 4% between 2022 and 2023, marking the first
00:08significant rise since 2019, according to a recent survey by the Census Bureau.
00:13From 2018 to 2019, the median income grew by 7%, but then stagnated until 2023.
00:20South Dakota led the way with a 17% rise.
00:24Population growth and higher-earning households moving into South Dakota contributed to this
00:28surge.
00:29New Zealand saw the largest decline with a 9% drop due to the loss of high earners and
00:34slow economic growth.
00:35For all things money, visit Benzinga.com.