Income

February 6, 2025Most current estimates put the U.S. median household income at around $75,000 to $80,000. But these figures do not account for the degree of the spread between the highest and lowest earners, a metric that can demonstrate the diversity in financial realities within a community. Across the U.S., the top 20% of earners bring in… read more…

February 5, 2025Across the United States, the median household net worth is estimated to be $187,690. Net worth includes the assets a household has – minus debts – and gives a general estimate of a home’s relative wealth and financial profile. It includes the value of home equity, balance of deposit accounts such as checking and savings,… read more…

January 29, 2025High-income households can generally afford to spend more within their communities, both via local business and the tax base. The business mix of a city may be greatly influenced by the relative population of high-income earners. Similarly, the prevalence of high-income households also can help describe the relative quality of life of a population, or… read more…

January 15, 2025Stretching a paycheck beyond the basics is becoming harder for many Americans. After covering taxes and essential expenses, the disposable income that is left impacts a household’s ability to save, invest or stay afloat. But high prices of housing, food, childcare and more can keep households struggling, leaving many families with little or nothing to… read more…

April 18, 2026Just as inflation can drive up costs, macroeconomic shifts, layoffs, or industry downturns can lead to declines in household income, potentially posing challenges to families affording housing, groceries and other necessities. For some, a dollar doesn’t stretch as far when income drops faster than expenses increase. According to the latest U.S. Census Bureau data, household… read more…

November 13, 2024Inflation regularly increases the prices of goods, services and resources, making the cost of living less affordable with a dollar that does not keep up with that growth. The Bureau of Labor Statistics clocked the 12-month inflation rate from the end of 2022 to the end of 2023 at 3.35%. Meanwhile, household income estimates shifted… read more…

October 29, 2024Following redistricting after the 2020 U.S. Census, the new borders of Florida’s 118th Congressional districts could play an important role in the 2024 election. Wealth distribution across these redefined districts provides insight into the evolving economic landscapes of Florida’s communities, potentially affecting voter concerns and priorities. With this in mind, SmartAsset ranked Florida’s congressional districts… read more…

October 24, 2024Congressional redistricting is based on population changes tracked by the U.S. Census. Following the redistricting cycle of 2020, the State of Texas set boundaries that define each of the districts which will be contested in the 2024 election. Identifying the wealthiest households in these districts can be informative because it shows how community needs are… read more…

October 23, 2024Following the redistricting adjustments that yielded the current 118th Congress, Pennsylvania remains a ‘battleground’ state for the upcoming presidential election on November 5th. Many factors could play into a person’s voting decisions, including their economic status and outlook. Therefore, wealth concentration in some areas can not only impact real estate and job markets, but also… read more…

October 21, 2024Piggybacking U.S. Census counts, congressional redistricting regularly accounts for population changes in each state, currently resulting in the delineations making up the 118th Congress. Still, day-to-day life may look very different in the richest and poorest congressional districts in America. While the latest U.S. Census Bureau data puts the median household income in the United… read more…

October 3, 2024Only 6.2% of millennial households earn $200,000 or more nationwide. But from state to state, that percentage of high-earning millennials can range from one-third of that to almost double. This group has more discretionary economic power than their peers, and an outsized portion of them among a statewide population – or an apparent deficit –… read more…

July 24, 2024The U.S. median income is around $75,000, with half of Americans earning less than that. High-income earners, on the other hand, can make 10 times that – or more. And this top 1% also makes up a disproportionately large part of the tax base, with their incomes generally putting them in the highest federal tax… read more…

June 6, 2024New technology, legislation, resources and other economic factors can quickly influence supply and demand for different occupations. In turn, this can affect the level of pay workers receive – and the level of employment in that career path. To find which professions had the highest increases in pay year over year, as well as those… read more…

May 22, 2024With costs of living skyrocketing in recent years and the demand for different skill sets changing, job seekers must be resourceful to find opportunities that best suit them. This could mean relocating for higher income, an improved work-life balance, growth potential or benefits. Keeping this in mind, SmartAsset evaluated job markets in the largest U.S.… read more…

May 9, 2024Depending on employment and investment returns, the size of a retirement nest egg will look different for everyone. The number of work years, salary and retirement age will impact Social Security benefits. Meanwhile, both worker and employer contributions, investment allocations and timing will determine the value of retirement accounts like 401(k)s, IRAs and pension payouts.… read more…

April 24, 2024As a middle-class American, there is some expectation for living a lifestyle of relative comfort. But as costs have increased significantly over the last few years, the middle class is now feeling a squeeze in their finances. Accordingly, the income limits that define the middle class have also increased to reflect what most Americans are… read more…

March 27, 2024Different factors can affect the gender pay gap, depending on where you live. Family economics, social values and gender selection trends among different industries, can each contribute to the gap in a given economy. While no one factor alone may explain the whole story, there are noticeable trends in women’s pay compared with men’s that… read more…

March 19, 2024While cost of living premiums and inflation metrics capture the price increases in goods and services, they do not necessarily account for all the additional costs needed to live comfortably – such as a buffer from the stress of living paycheck to paycheck. The 50/30/20 budget recommends that for sustainable comfort, 50% of your salary… read more…

February 22, 2024As your income goes up, so will your tax rates. In 2024, a $250,000 income eeks a single tax filer into the 35% federal income tax bracket. On top of that, you may need to factor in state and city taxes. And, depending on where you live, the cost of living could also take a… read more…

February 22, 2024On average, the uppermost 80% of households earn more than four and half times what the bottom 20% earns. For example, in one city, the highest-earning households may average $140k annually or higher – compared to a $30k income earned by the bottom fifth of residents. This income inequality can divide local communities by creating… read more…

February 20, 2024With taxes, housing, food and other costs varying widely across the U.S., a $100,000 income can look drastically different depending on where you live. Even places that don’t charge residents a state or local income tax can see a wide range for how far a dollar stretches thanks to cost of living differences. Because of… read more…

February 1, 2024High-income households may have an outsized impact on local economies, which can put increased pressure on housing markets, shift demand for services and businesses, and tax base contributions. The IRS defines high income as taxpayers making $200,000 or more. Examining the rate of growth of this cohort allows us to identify potential up-and-coming alternatives to… read more…

July 17, 2023American wealth is becoming increasingly concentrated at the very top of the economic ladder. The top 1% of families hold over a third of the total wealth in the U.S. – up from 27% in 1989 – according to a Congressional Budget Office report from 2022. The bottom half of all households, meanwhile, control just… read more…

June 16, 2023Remote work has allowed skilled workers to mobilize and capitalize on the benefits of different areas of the U.S. After all, a $100,000 salary is worth far more in a place like Memphis than high-cost cities like New York and… read more…

May 23, 2023While there is a lot of debate on whether the U.S. will enter a recession – or if it’s already in one – some models have projected a likelihood as high as 99.3%1. While no one can predict the future,… read more…