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Between 1978 and 2008, average family income declined by 3% ($528 in constant 2008 dollars) for the poorest 20% of families. Average income rose 15% ($8,067) for the middle 20% of families and 78% ($143,587) for the wealthiest 5% of families. |
| Lowest 20% | Second 20% | Third 20% | Fourth 20% | Highest 20% | Top 5% | |
| $ Change 1978–2008 | -$528 | $2,486 | $8,067 | $18,428 | $65,286 | $143,587 |
| % Change 1978–2008 | -3% | 7% | 15% | 25% | 52% | 78% |
| 2008 Income Bracket | $27,800 or less | $27,801 to $49,325 | $49,326 to $75,000 | $75,001 to $113,205 | $113,206 or higher | $200,000 or higher |
Source: U.S. Census Bureau, Current Population Survey, Table F-1, Table F-3, and FINC-01; calculations by the authors.
Download Excel for this figure. Download Excel for all figures and tables. This figure was prepared in October 2009. - In 2008, median income for families in the Northeast was $69,317, 24% higher than the $55,877 median family income in the South.
- Median income for Asian families was $73,578, 85% higher than the $39,879 median income for black
families and 82% higher than the $40,466 median income for Hispanic families.More
- Family income rises with the educational attainment of the householder. In 2008, median
family income for those with a bachelor’s degree or more was $101,099, over twice as high as the $49,414 median income for those with a high school diploma or GED.More
Also Important
- The share of all income going to the 20% of families with the lowest incomes has steadily declined,
from 5.4% in 1978 to 4.6% in 1988, 4.2% in 1998 and 4.0% in 2008. The share going to the top 5% of families rose from 15.1% in 1978 to 17.2% in 1988, 20.7% in 1998, and was 20.5% in 2008.More
- Average published tuition and fees at public four-year colleges rose by about $4,300 (in 2008 dollars) over this 30-year period —
about half of the increase in average income for the middle 20% of families and about 7% of the increase in average income for the 20% of families with the highest incomes.More
- In 2009-10, according to the federal formula for financial aid eligibility, for families of four with one child in college and no discretionary liquid assets, only those with incomes
of about $95,000 or higher would be able to pay the average published price of tuition and fees and room and board at public four-year colleges without financial aid. About 28% of all families have incomes this high.More
