The following chart shows the nominal (red) and inflation-adjusted (blue) trends for median household income in the United States from January 2000 through June 2019. The inflation-adjusted figures are presented in terms of constant June 2019 U.S. dollars, where June 2019's figure is just a bit below the inflation-adjusted peak of $64,809 recorded in January 2019.
The year-over-year growth rate for median household income in the U.S. showed a small rebound in June 2019, increasing to 3.6% from 3.1% in the previous month in nominal terms, which is shown as the red line in the following chart.
Adjusted for inflation, the year-over-year growth rate of median household income was 1.9% in June 2019.
With its latest data release, the U.S. Bureau of Economic Analysis revised its previously reported personal income data from January 2014 through May 2019. We have updated our alternate model accordingly, with the updated relationships between average annualized wage and salary income per capita and median household income presented in the following chart.
Following the revision, our alternate methodology for estimating median household income using all of the updated data reported by the U.S. Bureau of Economic Analysis would put the figure at $64,761 for June 2019, which is within a half-percent of Sentier Research's estimate.
Coming up in September 2019, the U.S. Census Bureau will publish its estimate of median household income for 2018, which will provide a reference point for assessing Sentier Research's monthly estimates of median household income during that calendar year.