Summary
A study shows that household incomes in Colorado, Georgia, and Maine have risen the most from 2019 to 2024, with the fastest increase in Colorado at 46.9%. In contrast, North Carolina, Oklahoma, and Hawaii experienced the slowest income growth. Nationwide, average household incomes grew by 21.9% during this period.
Key Facts
- Colorado's median household income grew by 46.9%, the highest in the U.S., partly due to a thriving tech industry.
- Georgia saw a 43.4% growth in median household income, helped by job creation in electric vehicles and aerospace.
- Maine's income increase was 36.3%, followed closely by Montana with 36.1%.
- Tennessee experienced a 34% rise in median household income.
- North Carolina and Oklahoma had the slowest growth at 9.9%.
- Hawaii saw an 11.6% increase, while the District of Columbia and Illinois grew by 12.6% and 13.2%, respectively.
- Rising incomes can influence where people choose to live and their standard of living.
- Nationwide, household incomes rose by an average of 21.9% between 2019 and 2024.
