According to the United States Census Bureau, the median household income in the United States in 2020 was $67,521. This means that half of all households earned more than $67,521, while half earned less.
The percentage of Americans who make $200,000 per year or more is relatively small compared to the overall population. According to data from the Internal Revenue Service (IRS), in 2018, the most recent year for which data is available, approximately 6.2% of tax filers reported an adjusted gross income (AGI) of $200,000 or more.
It is important to note that the percentage of Americans who make $200,000 per year or more varies significantly depending on factors such as age, gender, race/ethnicity, education level, and location. For example, according to a 2021 report from the Economic Policy Institute, the median annual earnings for workers with a bachelor’s degree or higher was $74,807, compared to $35,256 for workers with a high school diploma or less. Similarly, according to data from the Bureau of Labor Statistics, the median weekly earnings for full-time workers in the United States was $989 in the fourth quarter of 2021.
In addition, there are significant differences in income by race and ethnicity. According to data from the Census Bureau, in 2020, the median household income for White households was $75,476, compared to $57,815 for Black households, $55,702 for Hispanic households, and $87,216 for Asian households.
It is also important to note that income is not the only measure of financial well-being. Wealth, which includes assets such as real estate, investments, and savings, is also an important factor in determining financial security. According to data from the Federal Reserve, in 2021, the median net worth of households in the United States was $121,700, but this varied significantly by race/ethnicity. For example, the median net worth of White households was $204,600, compared to $24,100 for Black households and $36,100 for Hispanic households.
In conclusion, approximately 6.2% of tax filers reported an adjusted gross income of $200,000 or more in 2018, according to data from the IRS.