What is the per capita income of Pennsylvania?
In 2021, the per capita personal income in Pennsylvania was 64,054 U.S. dollars. Per capita personal income is calculated as the personal income of the residents of a given area divided by the resident population of the area.
What is per capita personal income?
Per capita personal income is calculated as the total personal income of the residents of a given area divided by the population of the area. In computing per capita personal income, BEA uses Census Bureau midyear population estimates.
What is the average household income in PA?
The following data are the most current income statistics for Pennsylvania from the US Census Bureau, are in 2020 inflation adjusted dollars and are from the American Community Survey 2020 5-year estimates. Median Household Income: $63,627. Average Household Income: $87,262.
What is the personal income tax in Pennsylvania?
3.07 percent
Pennsylvania personal income tax is levied at the rate of 3.07 percent against taxable income of resident and nonresident individuals, estates, trusts, partnerships, S corporations, business trusts and limited liability companies not federally taxed as corporations.
What is middle class income in PA?
$25,757 per year
In Pennsylvania, households must earn a minimum of $25,757 per year to be considered middle class, with the upper earnings boundary set at $121,862, according to a new 24/7 Wall St. analysis. The total share of household income in Pennsylvania controlled by middle-class earners is 45.8 percent, 24/7 Wall St. reports.
Is PA a poor state?
Outside of the Philadelphia, Pittsburgh, and Harrisburg metropolitan areas, Pennsylvania is a relatively poorer state, especially in the northern areas and the Appalachian Mountains; only 22% of Pennsylvania places have per capita incomes higher than the national per capita income, and 11.0% of the population lives …
How do you calculate personal income?
Explanation
- 1) In the first approach, personal income can derive by taking the sum of all the income received by the household members.
- PI = Salaries/Wages Received + Interest Received + Rent Received + Dividends Received + Any Transfer Payments.
How do you find per capita?
How to calculate per capita
- Determine the number that correlates with what you are trying to calculate.
- Determine how many people are in the population that you want to measure.
- Divide the measurement by the total number of people in the population.
- For smaller measurements, multiply the total by 100,000.
What is the PA state income tax rate for 2020?
3.07%
Pennsylvania Individual Tax The Pennsylvania individual income tax withholding rate remains at 3.07% for 2020.
What income is not taxable in Pennsylvania?
Pennsylvania fully exempts all income from Social Security, as well as payments from retirement accounts, like 401(k)s and IRAs. It also exempts pension income for seniors age 60 or older. While its property tax rates are higher than average, the average total sales tax rate is among the 20 lowest in the country.
What is considered upper-middle class in PA?
A family earning between $32,048 and $53,413 was considered lower-middle class. For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. Those who earn more than $373,894 are rich.
What is the poverty line in PA?
2022 POVERTY INCOME GUIDELINES CONTIGUOUS STATES U.S. GRANTEES EFFECTIVE January 12, 2022
| House Hold/Family Size | 100% | 200% |
|---|---|---|
| 1 | $13,590 | $27,180 |
| 2 | $18,310 | $36,620 |
| 3 | $23,030 | $46,060 |
| 4 | $27,750 | $55,500 |
What is the per capita personal income in Pennsylvania?
In 2020, the per capita personal income in Pennsylvania was 61,700 U.S. dollars. Per capita personal income is calculated as the personal income of the residents of a given area divided by the resident population of the area. Already a member?
Which counties in Pennsylvania have the highest per capita income?
Pennsylvania counties ranked by per capita income Rank County Per capita income Median household income Median family income 5 Cumberland $30,119 $60,219 $75,000 6 Allegheny $29,549 $47,961 $65,678 7 Butler $28,446 $56,878 $69,464 8 Northampton $28,362 $58,762 $70,457
How is per capita personal income calculated?
This measure of income is calculated as the personal income of the residents of a given area divided by the resident population of the area. In computing per capita personal income, BEA uses the Census Bureau’s annual midyear population estimates. All dollar estimates are in current dollars (not adjusted for inflation).