U.S. Median Household Income Rises 4% in 2023, But Inflation Erodes Gains

Census data reveals income growth across all levels, yet highlights persistent racial and gender disparities and the impact of inflation.

Median household income increased to $80,610 in 2023, marking the first significant rise since 2019.
Income growth was uneven across racial groups, with white and non-Hispanic households seeing the largest gains.
Despite income increases, inflation-adjusted earnings are lower than in 2019, with average household income down by $1,221.
The poverty rate saw a slight decrease, but the number of households on food stamps rose from 10.7% to 12.2%.
Gender pay gaps widened, with men's earnings growing by 3% compared to women's 1.5% increase.