Median Household Income in Monticello, MO (2010-2021, in 2022 inflation-adjusted dollars)
Below, you will find a table illustrating the median household income in Monticello, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.
Year | Median Household Income | YOY Change($) | YOY Change(%) |
---|---|---|---|
2010 | 33,311 | - | - |
2011 | 39,227 | 5,916 | 17.76% |
2012 | 49,631 | 10,404 | 26.52% |
2013 | 49,942 | 311 | 0.63% |
2014 | 92,300 | 42,358 | 84.81% |
2015 | 86,721 | -5,579 | -6.04% |
2016 | 93,259 | 6,538 | 7.54% |
2017 | 98,055 | 4,796 | 5.14% |
2018 | 95,717 | -2,338 | -2.38% |
2019 | 74,276 | -21,441 | -22.40% |
2020 | 94,192 | 19,916 | 26.81% |
2021 | 99,984 | 5,792 | 6.15% |
TABLE OF CONTENTS
Monticello, MO median household income trends: 2010 to 2021
From 2010 to 2021, the median household income for Monticello increased by $66,673 (200.15%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.
Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 8 years and declined for 3 years.
The most significant year-by-year growth occured from 2013 to 2014, when the median household income increased by 42,358 (from $49,942 to $92,300). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 21,441 (from $95,717 to $74,276).
In Missouri, among cities with populations of fewer than 5,000 residents, Monticello ranks 37th out of 601 for median household income. This rank highlight its position as one of the top-earning small cities within the state of Missouri.
Things to know
What is the Gini index for Monticello, MO?
As per the Census Bureau, the Gini coefficient for Monticello is 0.3837. With this value of Gini coefficient, it is evident that income distribution in Monticello exihibits characterstics of moderate equality .
This also implies that the majority of households in Monticello enjoy fairly equitable access to income resources, contributing to a reasonably fair and even economic landscape.
What is the median household income in Monticello, MO?
As per the latest data available from American Community Survey, the median household income for Monticello is $99,984 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 134.02% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
How does Monticello, MO median household income compare to the rest of the United States?
In Missouri, among cities with populations of fewer than 5,000 residents, Monticello ranks 37th out of 601 for median household income. This rank highlight its position as one of the top-earning small cities within the state of Missouri.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)