Missouri 2014 Personal and Per Capita Income

In 2014, Missouri’s personal income was $252.3 billion, a 2.7 percent increase from the 2013 personal income, according to data from the U.S. Bureau of Economic Analysis (BEA). The nation’s personal income rose 3.9 percent to over $14 trillion compared to last year.

Personal income is defined as the income received by all persons from net earnings, transfer payments, and property interest income. Personal income is measured before the deduction of taxes and is reported in current dollars.

California led the nation in total personal income with more than $1.9 trillion. Texas, New York, Florida, and Illinois round out the top five.

Missouri was 22nd overall in total state personal income. Missouri had the 3rd highest total personal income when compared to surrounding states. Only Illinois ($619 billion) and Tennessee ($266 billion) ranked higher.

Personal income increased in every state this year. Nebraska had the smallest increase in personal income at 0.5 percent.

 2014 Top 25 States Personal Income ($Millions)
Rank Area 2014 Percent Change 2013 to 2014
*** United States  $14,708,582 3.9%
1 California  $1,944,369 4.7%
2 Texas  $1,224,548 5.6%
3 New York  $1,110,345 3.7%
4 Florida  $848,357 4.6%
5 Illinois  $619,808 2.4%
6 Pennsylvania  $610,295 3.4%
7 New Jersey  $507,749 3.0%
8 Ohio  $493,578 3.9%
9 Virginia  $413,898 2.6%
10 Michigan  $401,901 4.0%
11 Massachusetts  $399,204 4.2%
12 Georgia  $394,773 4.4%
13 North Carolina  $394,234 3.5%
14 Washington  $350,130 5.3%
15 Maryland  $329,560 3.3%
16 Tennessee  $266,260 3.6%
17 Minnesota  $265,824 3.2%
18 Colorado  $260,993 5.6%
19 Indiana  $260,133 2.5%
20 Wisconsin  $256,699 3.4%
21 Arizona  $255,089 4.1%
22 Missouri  $252,325 2.7%
23 Connecticut  $224,674 3.0%
24 Louisiana  $196,621 3.2%
25 Alabama  $181,816 3.1%

 

Per Capita Personal Income

Per capita income is defined as total personal income dived by total population. Per capita personal income in Missouri was $41,613 in 2014, up from $39,897 in 2013.

The District of Columbia led the nation in per capita income at $76,532 followed by Connecticut ($62, 467), Massachusetts ($59,182), New Jersey ($56,807), and New York ($56,231). Mississippi had the lowest per capita income at $34,333.

Per Capita Income 2014
Area Dollars Area Dollars
United States  $46,129 Iowa  $45,115
District of Columbia  $76,532 Wisconsin  $44,585
Connecticut  $62,467 Oklahoma  $43,138
Massachusetts  $59,182 Florida  $42,645
New Jersey  $56,807 Ohio  $42,571
New York  $56,231 Louisiana  $42,287
Maryland  $55,143 Maine  $42,071
North Dakota  $54,951 Oregon  $41,681
Wyoming  $54,810 Missouri  $41,613
New Hampshire  $53,149 Tennessee  $40,654
Alaska  $52,901 Montana  $40,601
California  $50,109 Michigan  $40,556
Virginia  $49,710 Nevada  $40,077
Washington  $49,583 North Carolina  $39,646
Rhode Island  $48,838 Indiana  $39,433
Colorado  $48,730 Georgia  $39,097
Minnesota  $48,711 Arizona  $37,895
Illinois  $48,120 Utah  $37,766
Pennsylvania  $47,727 Arkansas  $37,751
Vermont  $47,330 Kentucky  $37,654
Nebraska $47,073 New Mexico  $37,605
Hawaii  $46,396 Idaho  $37,533
South Dakota  $46,345 Alabama  $37,493
Delaware  $45,942 South Carolina  $36,934
Kansas  $45,546 West Virginia  $36,644
Texas  $45,426 Mississippi  $34,333

Compared to its surrounding states, Missouri ($41,613) ranked 6th in per capita personal income. Illinois ($48,120), Nebraska ($47,073), Kansas ($45,546), Iowa ($45,115) and Oklahoma ($43,138) had higher per capita income.

Percent CJange 2014

US PerCapita Map

 

 

Source:Bureau of Economic Analysis
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