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March 20, 2017

Report Analyzes Real Income Post–Great Recession

By Bob Spieldenner

From 2010 to 2015, middle-income households in 79 percent of the counties in the Fifth District experienced an average 1.2 percent annual decline in real mean income. Nationally, the average annual decrease was 0.9 percent. 

The Richmond Fed’s latest 5th District Footprint found that Maryland, North Carolina, South Carolina and Virginia experienced overall decreases during the time period. West Virginia experienced almost no change, while the District of Columbia experienced a 2.1 percent average annual increase.

“While a large majority of counties in the Fifth District saw a decrease in real mean income, 21 percent saw an average 1 percent increase,” said Emily Wavering, research analyst for the Richmond Fed’s Community Development department.

Over the five years included in the analysis, Hanover County, Virginia, saw the largest dollar value increase in real mean income at $9,876, while Charlotte County, Virginia, saw the largest decrease at $14,423.

Published quarterly, the 5th District Footprint provides analysis of data relevant to community development professionals in Maryland, North Carolina, South Carolina, Virginia, West Virginia and the District of Columbia. 

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