According to the US Census Department, the median household income in the United States in 1984 was $51,742 (in 2018 dollars). Thirty-four years later, the median household income was $63,179, an increase of about 22%. Not surprisingly, the growth was not even across the country. Four states and one district grew by 40% or more over this time period (IA, UT, TN, OR, and DC), while another 13 grew by 30-39%. Four states showed single-digit growth, while one (Alaska) had a lower median household income in 2018 compared to 1984. 

There are a large number of factors that go into what helps income grow across a state, from natural resources, what industries are present, policy decisions, etc. As is often the case in larger data sets, there are numbers that can back up any story you want to tell. For example, if you look at the states with the largest growth over the past 30-plus years, the top three are states where Republicans currently have a trifecta control (both houses of the state legislature and the Governor’s office). On the other hand, if you look at the median income in 2018, four of the top five are states where Democrats have a trifecta. If you look at the change in overall ranking from 1984 to 2018, two of the top four states are under GOP control, and two are under Democratic control. 

Members of either party will claim that they have the “right” answers on the economy, but the data (at least when it comes to household income) indicate that neither party has a universal claim on success. 

Here are the key takeaways from this week’s chart:

• 🏆A Diverse Portfolio is Important: The states that are in the top 15 in terms of overall household income tend to have a combination of multiple industries, natural resources, as well as a high level of investment in infrastructure and education. 
• 👆👉👇The Rankings Are a Mixed Bag: 12 states have changed relatively dramatically over 34 years, moving up at least 7 spots on the overall ranking from 1984 to 2018. 15 states are in just about the same position, while 10 dropped dramatically over the 34-year period.  
• 😐Some States Aren’t Doing Great: Mississippi, Arkansas, West Virginia, and Alabama were all at the bottom of the rankings in the year “When Dove’s Cry” topped the charts and were also there when Drake was topping the charts with God’s Plan. That being said, all four states did increase their median income by more than 20% over this period.