The Distribution of Household Income, 2018

Congressional Budget Office

No 57061, Reports from Congressional Budget Office

Abstract: In 2018, average household income before accounting for means-tested transfers and federal taxes was $22,500 among households in the lowest income quintile and $321,700 among those in the highest quintile. CBO estimates that, after accounting for the effects of transfers and taxes, average income among the lowest and highest quintiles was $37,700 and $243,900, respectively. Between 1979 and 2018, average income, both before and after means-tested transfers and federal taxes, grew in all quintiles, but it increased most in the highest quintile.

JEL-codes: H20 H24 H50 J30 (search for similar items in EconPapers)
Date: 2021-08-04
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