Median household incomes increased nationwide over the past five years, though the pace of growth varied widely by state. New data shows that several states experienced income gains far above the national average, while others recorded only modest increases.
According to Visual Capitalist, which analyzed data from the U.S. Census Bureau, median household income in the United States rose 21.9 percent between 2019 and 2024, climbing from $68,700 to $83,730. The figures are nominal and not adjusted for inflation, offering a snapshot of raw income growth during a period marked by economic disruption and recovery.
The divergence between states highlights how local industries and labor markets have shaped earnings. According to reporting by Newsweek, where Americans live has played a significant role in determining how much their incomes have grown in recent years.
Colorado and Georgia Post the Strongest Income Growth
Colorado recorded the fastest rise in median household income nationwide. According to Visual Capitalist, the state’s median income increased by 46.9 percent, from $72,500 in 2019 to $106,500 in 2024. The study attributes much of that growth to the state’s thriving technology sector.
With average earnings in Colorado’s tech industry reaching $165,606 in 2023, the state ranked sixth-highest nationally in that sector. Employment growth across software, renewable energy, and other tech roles has expanded significantly since 2018, contributing to higher household earnings.
Georgia followed closely behind, with median household income rising 43.4 percent, from $56,630 to $81,210 over the same period. According to Visual Capitalist, investment in electric vehicle and aerospace manufacturing has driven job creation across the state. Since 2018, Georgia has attracted $27.3 billion in investment tied to EV, aerospace, and battery manufacturers, including Rivian and SK Battery America.
Other states posting notable gains include Maine, where incomes rose 36.3 percent, and Montana, which saw a 36.1 percent increase. Tennessee ranked fifth, with a 34 percent rise in median household income. In Maine, wages in the tech sector increased by 11.4 percent in 2024, while construction wages rose 8.5 percent, reflecting a tight labor market and demographic pressures.
North Carolina and Oklahoma Trail National Averages
At the other end of the ranking, North Carolina and Oklahoma recorded the slowest cumulative income growth in the country. According to Visual Capitalist, both states saw median household income increase by just 9.9 percent between 2019 and 2024.
In North Carolina, median income rose from $61,160 to $67,220. Oklahoma’s median income increased from $59,400 to $65,310. Both states remain below the national median household income and continue to trail pre-pandemic levels.
Hawaii also posted relatively modest gains, with an 11.6 percent increase in median household income over the five-year period. The District of Columbia saw income growth of 12.6 percent, while Illinois recorded a 13.2 percent increase.
The broader national trend shows that incomes have risen in nominal terms across the country. Still, the scale of growth differs sharply depending on local economic conditions. As Visual Capitalist noted in its analysis, some states tracked close to the national average, while others saw incomes climb at nearly double the pace, driven by booming local industries and major investment.
