The Distribution of Household Income, 2017

Congressional Budget Office

No 56575, Reports from Congressional Budget Office

Abstract: In 2017, average income before accounting for means-tested transfers and federal taxes was $21,300 for households in the lowest income quintile (fifth) and $309,400 for those in the highest quintile. Those transfers and taxes increased average household income toward the bottom of the income distribution and reduced income toward the top of the distribution. After accounting for the effects of transfers and taxes, CBO estimates that average household income for the lowest and highest quintiles was $35,900 and $229,700, respectively.

JEL-codes: H20 H24 H50 J30 (search for similar items in EconPapers)
Date: 2020-10-02
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