Median household income fell to $50,054 in 2011 (see the trend here). The continuing decline in the median is no surprise given that we are mired at the bottom of an economic trough carved out by the Great Recession. To get a feel for what's happening down here in the muck, take a look at median household income trends (in 2011 dollars) by age of householder...
Under age 25
Median household income in 2011: $30,460
Change in median since 2010: +4.6%
Change in median since 2000: -16.2%
This is one of only two age groups to see an increase in median household income between 2010 and 2011. What accounts for their good fortune? Attrition. Many young adults, unable to find jobs, gave up living independently and moved back in with their parents. This demographic segment has finally hit bottom, and young householders with jobs are all that remains.
Aged 25 to 34
Median household income in 2011: $50,774
Change in median since 2010: -1.3%
Change in median since 2000: -12.5%
Aged 35 to 44
Median household income in 2011: $61,916
Change in median since 2010: -2.3%
Change in median since 2000: -11.8%
Aged 45 to 54
Median household income in 2011: $63,861
Change in median since 2010: -0.7%
Change in median since 2000: -15.1%
The median household income of this age group has declined by an astounding $12,945 since the 1999 peak of $76,806. The small 2010-11 decline--smaller than the decline in any other age group--may mean this age group is hitting bottom.
Aged 55 to 64
Median household income in 2011: $55,937
Change in median since 2010: -4.0%
Change in median since 2000: -4.5%
Aged 65 or older
Median household income in 2011: $33,118
Change in median since 2010: +2.0%
Change in median since 2000: +9.9%
This is one of only two age groups to gain ground between 2010 and 2011, and it is the only age group with income growth between 2000 and 2011. Thank you Social Security!
Source: Census Bureau, Income, Poverty, and Health Insurance in the United States: 2011
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