US Household Income 12/2/23

Average US Household income rose from $30,636 in 1990 to $74,580 in 2022 and fell back to $67521 in 2023.

Year  Income

2023  $67521

2022  $74580

2021  $70784

2020  $67521

2019  $69560

2018  $68703

2017  $61136

2016  $61372

2015  $59039

2014  $56516

2013  $53657

2012  $53585

2011  $51539

2010  $51017

2009  $50054

2008  $49276

2007  $49777

2006  $50303

2005  $50233

2004  $48201

2003  $46326

2002  $44334

2001  $43318

2000  $42409

1999  $42228

1998  $41990

1997  $40696

1996  $38885

1995  $37005

1994  $35492

1993  $34076

1992  $32264

1991  $31241

1990  $30636

https://www.statista.com/statistics/200838/median-household-income-in-the-united-states/

Comments

US Household income is down in 2023 and inflation is up. The Trump economy peaked in 2022 and the Biden economy is showing its effect.  Household income is showing the effect of the economy’s weakening. Lower income jobs like Retail and Hospitality remain unstable. Home construction is affected by high mortgage rates. Rents and utility prices are up. Transportation and food costs are up. We are addicted to I-phones and the internet and the price of these flakey toys are up. Advertising dollars have shifted from Newspapers, where we could ignore them to the Internet popups, excessive TV ads and unnecessary telemarketers.

In the 1960s a good household income was $10,000. New homes were $30,000. Mortgage rates were 4%..New Cars were $2000. Regular gasoline was 20 to 30 cents per gallon.  

In the 1970s, a good household income was $20,000. New homws were $50,000. Mortgage rates were 6%. New cars were $7000. Regular gasoline was $1.19 per gallon

In the 1980s a good household income was $40,000. New homes were $100,000. Mortgage rates were 13%. New cars were $15,000.  Regular gasoline was $1.00 per gallon.

In the 1990s, a good household income was $80,000. New homes were $300,000. Mortgage rates were 7%. New cars were $20,000. Regular gasoline was $1.30 per gallon.

In the 2000s, a good household income was $100,000. New homes were $400,000. Mortgage rates were 7%. New cars were $25,000. Regular gasoline was $1.48 per gallon.

In the 2020s, a good household income remains at $100,000. New homes are $500,000. Mortgage rates are 8% and new cars are $30,000. Regular Gasoline was $2.17 per gallon in 2020, but rose to $3.22 in 2023 .

In 1960, tuition at St Louis U was $1000 per year. Most of the Professors were Jesuit Priests.

In 2023 tuition at St Louis U was $52.000 per year.

In 2023, Tuition and Fees at Georgia Tech total $12,500.

In 1960, hospital costs were $24 per day.  Private Hospitals were owned by Churches.  Religious Orders of Nuns who worked for free Nurse training, room and board, transportation, healthcare and $50 per month.  In 1962, the Catholic Church held Vatican II and redirected the Nuns to “serve the poor”. They sold their hospitals and the Nuns quit. After that, healthcare costs quadrupled annually.

The Nuns also worked at Teachers in Catholic Grade Schools. When Vatican II hit, they also disappeared. Catholic School costs increased.  The US population of Nuns fell from 200,000 in 1965 to 56000 in 2010.

Tuition at St. Judes Catholic Elementary School in Atlanta is currently $10,000 per year. Tuition at Marist Catholic High School is $22630. Tuition at Christian Brothers High School is up from $500 per year in 1960 to $18470 per year.

US inflation doubled from the 1960s to the 2020s. The US National Debt moved from $286 Billion in 1960 to $33 Trillion in 2023. Government overspending and productivity-wrecking regulations need to be reduced.

Norb Leahy, Dunwoody GA Tea Party Leader