Half of the states of the US intend to raise the US Average Income 2024, which could result in pay increases for millions of workers nationwide. Three states namely New York, Washington, and California are expected to see an increase in average income at least by $16 per hour as a result of the increase. The average income is $63,795 in the US. 20 states were expected to implement a new minimum income in January 2024.
On the other hand, the new rates in Nevada and Oregon are anticipated to go into effect from August 2024, while those in Florida will increase in September 2024. The average income, which was raised in 2009 and is currently $7.25 per hour, will be enforced in 20 states. In this article, an extended discussion about the US Average Salary 2024 along with the US State-Wise Salary 2024 is discussed. The information in this content is extracted from news reports and videos and we do not confirm about it. It is always advised to visit the official website and receive day-to-day updates about the US average income.
US Average Income 2024
Raising the average income could assist low-income workers in an era where many are still finding it difficult to keep up with rising costs due to inflation, even if the rate is rapidly dropping after hitting a 40-year high in 2022. Although price increases are slowing down, prices for groceries, rent, and other goods and services are still higher than they were before the pandemic. As a result of these most recent increases, states that are raising their average income are now more distinct from those that are still dependent on the federal average income of $7.25 per hour. Six states will allow employees to receive basic pay over the federal average income: California, Maryland, Washington, Connecticut, New Jersey, and New York. This article goes into great detail regarding the US Average Income 2024 State-Wise and Average Income for the year 2024. We have not verified the information in this content, which is taken from news articles and videos. To get daily information about the average income in the United States, it is always recommended to visit the official website.
Factors Affecting US Average Income 2024
The average income in a state is determined by many factors, such as:
- Living expenses
- Employment and sector
- Rate of state taxes
- Knowledge and expertise
- One may argue that the first factor is the most important.
- The cost of living is higher in some states.
Consequently, for workers to be able to afford housing, groceries, and other living expenditures, companies must pay their workers more.
Average Salary In US 2024
| Article | US Average Income 2024 |
| Government | USA Government |
| Applicable in | USA States |
| Average Salary In US 2024 | $59,228 Per Year |
| Category | Finance |
| Official Portal | www.usa.gov |
State-Wise US Average Income 2024 Per year
The following chart displays the average income (in single-income households) for each state.
| US State | State-Wise US Average Income 2024 Per year |
| Alabama | $50,620 |
| Alaska | $66,130 |
| Arizona | $58,620 |
| Arkansas | $48,570 |
| California | $73,220 |
| Colorado | $67,870 |
| Connecticut | $69,310 |
| Delaware | $62,260 |
| Florida | $55,980 |
| Georgia | $58,000 |
| Hawaii | $61,420 |
| Idaho | $51,350 |
| Illinois | $63,930 |
| Indiana | $53,500 |
| Iowa | $53,520 |
| Kansas | $52,850 |
| Kentucky | $51,490 |
| Louisiana | $50,940 |
| Maine | $55,960 |
| Maryland | $69,750 |
| Massachusetts | $76,600 |
| Michigan | $58,000 |
| Minnesota | $63,640 |
| Mississippi | $45,180 |
| Missouri | $54,520 |
| Montana | $52,200 |
| Nebraska | $55,070 |
| Nevada | $55,490 |
| New Hampshire | $62,550 |
| New Jersey | $70,890 |
| New Mexico | $54,400 |
| New York | $74,870 |
| North Carolina | $56,220 |
| North Dakota | $55,800 |
| Ohio | $56,530 |
| Oklahoma | $50,940 |
| Oregon | $62,680 |
| Pennsylvania | $58,470 |
| Rhode Island | $64,530 |
| South Carolina | $50,650 |
| South Dakota | $49,890 |
| Tennessee | $52,820 |
| Texas | $57,300 |
| Utah | $57,360 |
| Vermont | $59,190 |
| Virginia | $65,590 |
| Washington | $72,350 |
| West Virginia | $49,170 |
| Wisconsin | $56,120 |
| Wyoming | $54,440 |
States With The Highest And The Lowest Average Income In US 2024
The states with the highest and the lowest average income are stated below:
| States with Highest Average Income | States with the Lowest Average Income |
| Massachusetts | South Carolina |
| New York | Kentucky |
| Washington | Louisiana |
| California | Alabama |
| New Jersey | Arkansas |
| Connecticut | West Virginia |
| Maryland | Mississippi |
State-Wise US Average Income 2024: Disclaimer
- The average annual salary is a monetary figure that denotes full-time, salaried employees’ yearly pay.
- A group of people receive a survey, and in response, the people state their annual income.
- After adding up all of the salaries, the amount is divided by the number of employees. The salaries are different in every state.
- While average incomes are higher in the Northeast and West Coast than in the South, living expenses are also higher in these regions. Consider Mississippi, Massachusetts, and California.
- Despite having the highest average salary in the country, Massachusetts has a 50% higher COLA than the national average.
- Despite having the third-highest average pay in the country, California has a 40% higher COLA than the national average.
FAQs On US Average Income 2024
Average income is higher in states like California and lower in states including Alabama.
The average income in California is $56,220.
The average income in the US state of Alabama is $50,620.
