Household income distribution in the United States in 2020

In 2020, a little more than 54 percent of Americans had an annual household income that was less than 75,000 U.S. dollars. The median household incomedecreased for the first time in five years to 67,521 U.S. dollars in 2020.

Income and wealth in the United States

After the economic recession in 2009, income inequality in the U.S. is more prominent across many metropolitan areas. The Northeast region is regarded as one of the wealthiest in the country. Maryland, New Jersey, and Massachusetts were among the states with the highest median household income in 2020. In terms of income by race and ethnicity, the average income of Asian households was 94,903 U.S. dollars, while the median income for Black households was around half of that figure.

What is the U.S. poverty threshold?

The U.S. Census Bureau annually updates its list of poverty levels. Preliminary estimates show that the average poverty threshold for a family of four people was 26,695 U.S. dollars in 2020, which is around 798 U.S. dollars more than the previous year. There were an estimated 37 million people in poverty across the United States in 2020, which was around 11.4 percent of the population. Approximately 19.5 percent of those in poverty were Black, while 8.2 percent were white.