US per Capita Disposable Income (2010–2023)
Recent data indicates that Massachusetts and Connecticut are the states with the highest annual income. Individuals there earn nearly $90,000 a year.
What about the country’s per capita disposable income? In other words, how much disposable income does the average American have? We delve into the average disposable income per capita in the US over the past decade.
US disposable income per capita: key takeaways
- In 2023, the average per capita disposable income in the US reached $61,296, marking an 8.5% increase from the previous year—the largest jump in over a decade.
- Connecticut leads the nation with the highest per capita disposable income at $76,114 in 2023, closely followed by Massachusetts and Wyoming.
- Over the period from 2010 to 2023, per capita disposable income in the US rose by 67.8%, reflecting steady growth despite a few minor fluctuations along the way.
US per capita disposable income: table
|
Year |
US per capita disposable income |
Annual change |
US per capita disposable income (monthly) |
|
2010 |
$36,532 |
+2.8% |
$3,044 |
|
2011 |
$37,964 |
+3.9% |
$3,164 |
|
2012 |
$39,426 |
+3.9% |
$3,286 |
|
2013 |
$39,077 |
-0.9% |
$3,256 |
|
2014 |
$40,671 |
+4.1% |
$3,389 |
|
2015 |
$42,013 |
+3.3% |
$3,501 |
|
2016 |
$42,910 |
+2.1% |
$3,576 |
|
2017 |
$44,710 |
+4.2% |
$3,726 |
|
2018 |
$47,002 |
+5.1% |
$3,917 |
|
2019 |
$48,907 |
+4.1% |
$4,076 |
|
2020 |
$52,365 |
+7.1% |
$4,364 |
|
2021 |
$56,306 |
+7.5% |
$4,692 |
|
2022 |
$56,492 |
+0.3% |
$4,708 |
|
2023 |
$61,296 |
+8.5% |
$5,108 |
US disposable income per capita (2010–2023)
The latest disposable income data from the US Bureau of Economic Analysis shows that the amount of money an individual receives after income taxes has generally been rising over the past decade.
In 2010, the average disposable income per capita stood at $36,532. In other words, individuals in the US had a net income of around $3,044 per month. Over the following two years, this figure experienced an average annual increase of 3.9%, reaching $39,426 in 2012. However, a marginal decline of 0.9% in 2013 resulted in the average per capita disposable income slipping slightly to $39,077, equivalent to $3,256 per month.
Over the span of eight consecutive years, the average disposable income in the United States experienced robust growth, achieving an average annual growth rate of 4.7%. By 2021, this figure surpassed $55,000, translating to a monthly disposable income of $4,692. In 2022, growth fell to 0.3%, as per capita disposable income rose to $56,492. However, the numbers quickly bounced back, rising by 8.5% in 2023, the largest increase in more than a decade, reaching $61,296.
From 2010 to 2023, annual per capita disposable income rose by an overall $24,764, or 67.8%, and at an average annual growth rate of 4.1%.
Disposable income per capita: top 10 states
|
State |
Disposable income per capita (2023) |
|
1. Connecticut |
$76,114 |
|
2. Massachusetts |
$76,107 |
|
3. Wyoming |
$72,699 |
|
4. Washington |
$71,225 |
|
5. New Jersey |
$71,166 |
|
6. Colorado |
$70,179 |
|
7. New Hampshire |
$69,821 |
|
8. California |
$69,140 |
|
9. New York |
$68,435 |
|
10. South Dakota |
$66,607 |
The state with the highest per capita disposable income is Connecticut. This should come as no surprise, considering it’s also the state with the second-highest average income. In 2023, individuals in the Constitution State enjoyed an annual disposable income of $76,114.
Following Connecticut, Massachusetts and Wyoming secure the second and third positions, with average per capita disposable incomes of $76,107 and $72,699, respectively. Washington ranks fourth, with $71,225, and New Jersey completes the top five, with an average per capita disposable income of $71,166.