How Much Does the Average American Make in 2024?

Personal income has increased by 11.0% from 2020 to 2023 (BEA.gov)

In Q4 2023, personal income increased an average of 0.3% per month (BEA.gov)

In January 2024 all industries barring mining and logging saw an average weekly growth in wage against the previous month. (bea.gov)

There is clear inequality regarding the average salaries for different minorities in the States. For example, the average African American salary is $791 per week, which is 75% of the median salary of the White demographic, which amounts to $1,046. Hispanics make $762 per week , or 72%, but Asians make $1,168, which is 11% higher than an average White American.

If we look at the average American salary by gender, or rather the median, women make $835 per week ($43,420 annually), which is 76.3% of the median for all men ($1,094).

(US Department of Labor)

This data differs per state - with higher disparities in race and gender based income seen a number of locations. In the below graphs we have broken out the income disparity by race across all states, with the amounts shown highlighting the average earnings per dollar for each state - the dropdown below will show the raw data for this.

Black workers income per dollar by state

The only state in which black people earn more than white people per dollar is in Idaho - where the average is $1.06, the next highest are Hawaii at $0.96 and Wyoming at $0.95.

In total, there are 29 states where the average income for a black person is below 75% of the income of a white persons.

Hispanic/Latino workers income per dollar by state

There are no states in which Hispanic/Latino workers earn the same per dollar as white people, nor are there any states within 10% of this.

The highest average earnings for Hispanic/Latino works is in Vermont at $0.88, followed by West Virginia at $0.87.

In total, there are 32 states where the income of a Hispanic/Latino work is 75% or below that of a white worker.

Asian/Pacific workers income per dollar by state

Asian and Pacific Islanders are on average earning more than white people per dollar. There are 33 states where the average earnings is $1 or over.

Native American workers income per dollar by state

Native American workers earn more per dollar in five stats - Indiana ($1.26), Maryland ($1.13), Pennsylvania ($1.13), Georgia ($1.11) and South Carolina ($1.03).

It's no secret that the savings of the average American are shrinking at an alarming rate. In fact, according to the Pew Research Center, only 50% of American households were considered middle class in 2020, compared to 61% in 1971.

One rule of thumb used to define the middle class is a household that owns a home appropriate to the size of their family (but with an acceptable mortgage), owns their own car (with an acceptable loan), can send their children to college (with student loans), and has enough disposable income to regularly go on vacation, to restaurants, as wekk as being able to afford some small luxuries.

Now, the Pew Research Centre considers a household “middle class” if their annual income falls between two-thirds to twice the national median (when adjusted for household size and the average cost of living in their state).

So, the annual middle-class income range falls between $48,500 and $145,500. Note that this is a very rough estimate. As an example, a family of 5, living in New York, would not be considered middle-class with an annual income of $50,000

By that same token, and with the same caveats, a household getting more than $145,500 per year can be considered upper class, while a household making less than $48,500 can be considered “lower” class, or “working class”.

(Pew Research, Pew Research Trust)

Taking a look at the income generated in four-person households, we can see that New Mexico is at the bottom, with an annual income of $70,316, in 2021. Arkansas is next, with $71,383, while the state of Mississippi is third, with $74,888.

On the other hand, the District of Columbia has the highest income for this category, with $182,068. Massachusetts is second, at $148,71, while New Jersey is third, with $140,657.

(Justice Department)

Now let's look at a couple of examples of how salaries vary by your job. Data on the average salary by profession shows that Cardiologists had the highest annual salary in the US, in 2021, with $353,970 per year. Anesthesiologists were second, with $331,190, with oral and Maxillofacial surgeons at third, with $311,460.

If we exclude the other high-paying medical professionals, chief executives made $213,020 on average in 2021. Financial managers made $153,440 per year, while lawyers (no mention of specialization) made $148,030.

(Bureau of Labor Statistics)

On the other end of the spectrum, Shampooers made the least, at $25,160 per year. Fast food cooks made $25,490, while hosts and hostesses at restaurants, lounges, and coffee shops made $26,000.

Preschool teachers made $36,460, while police officers made $70,740.

(Bureau of Labor Statistics)

In 2021, 65.7 million people were on welfare in America. This is a damning number, made worse by how difficult it is to go over the poverty line when you account for how much minimum wage pays.

In 2021, according to the Census Bureau’s calculations, anything below $33,148 a year was considered a poverty salary in America. Just to give you a comparison, working full time for minimum wage, at $15 dollars per hour in Massachusetts, nets you $31,200 per year, while working at $7.25 per hour nets you $15,080 a year.

(US Census Bureau)