North Dakota Incomes Increased in The Last Few Years

(Photo by Spenser Heaps for Utah News Dispatch via the North Dakota Monitor)

(North Dakota Monitor) – Household incomes have grown in nearly every state over the past 50 years, but a new study concludes that growth has been uneven across the country.

An analysis of U.S. Census Bureau data, released Tuesday from the Urban Institute’s Center for Local Finance and Growth, found inflation-adjusted incomes in Western, mid-Atlantic and New England states have grown the most since 1970, while incomes in Midwestern states have grown the least.

Between 1970 and 2023, Utah household incomes increased at a higher rate than any other state: The median income went up 78%, an increase of $40,820 in inflation-adjusted dollars to $93,421. Utah was followed by Colorado, New Hampshire, California, Arizona and Virginia, all of which saw more than 60% growth in median household incomes adjusted for inflation.

Nationally, median household incomes grew by an average of 32%.