Missouri 2018 Personal and Per Capita Income

In 2018, Missouri’s personal income was $285.7 billion, a 3.9 percent increase from the 2017 personal income, according to data from the U.S. Bureau of Economic Analysis (BEA). The nation’s personal income rose 4.5 percent annually to over $17.5 trillion.

Personal income is defined as the income received by all persons from net earnings, property interest income, and transfer payments. Personal income is measured before the deduction of taxes. Income figures represent nominal dollars for this analysis, not adjusted for inflation. The reason that nominal dollars are used, and not inflation adjusted dollars, is due to the two-year lag in the release of inflation-adjusted income data from the BEA.

California led the nation in total personal income with more than $2.4 trillion. Texas, New York, Florida, and Illinois round out the top five; Missouri ranked 22nd in total state personal income.


2018 Personal Income 
(in millions of dollars)
Rank Area Personal Income
  United States $17,572,929
1 California $2,475,728
2 Texas $1,411,021
3 New York $1,341,915
4 Florida $1,052,550
5 Illinois $725,394
6 Pennsylvania $708,862
7 New Jersey $602,297
8 Ohio $563,926
9 Virginia $485,098
10 Massachusetts $483,657
11 Georgia $481,213
12 North Carolina $475,927
13 Michigan $475,626
14 Washington $458,017
15 Maryland $380,172
16 Colorado $323,767
17 Tennessee $319,401
18 Minnesota $316,327
19 Arizona $313,040
20 Indiana $312,151
21 Wisconsin $295,073
22 Missouri $285,704
23 Connecticut $266,382
24 South Carolina $217,276
25 Louisiana $212,223

Wages & Salaries accounted for 61 percent of Missouri personal income in 2018. Transfer Payment accounted for 19 percent and Dividends, Interest & Rent accounted for 20 percent. The percentage breakdown of personal income has been consistent since the end of the last recession in 2009. The U.S. had 63 percent of personal income accounted for by Wages & Salaries, 20 percent by Transfer Payments and 17 percent by Dividends, Interest & Rent.

Per Capita Income 2016 of Missouri and Surrounding States

 

Per Capita Personal Income

Per capita income is defined as total personal income divided by total population. Per capita income in Missouri was $46,635 in 2018, up from $45,014 in 2017.

The District of Columbia led the nation in per capita income at $81,882, followed by Connecticut, Massachusetts, New York, and New Jersey; Missouri ranked 37th in the U.S for per capita income.


Per Capita Income 2018
Area Dollars   Area Dollars
United States $53,712   Oregon $49,908
District of Columbia $81,882   Florida $49,417
Connecticut $74,561   Texas $49,161
Massachusetts $70,073   Iowa $48,823
New York $68,667   Ohio $48,242
New Jersey $67,609   Maine $48,241
Maryland $62,914   Nevada $48,225
California $62,586   Michigan $47,582
New Hampshire $61,405   Tennessee $47,179
Washington $60,781   Montana $47,120
Wyoming $60,095   Indiana $46,646
Alaska  $59,687   Missouri $46,635
Virginia $56,952   Oklahoma $46,128
Illinois $56,933   North Carolina $45,834
Colorado $56,846   Georgia $45,745
Minnesota $56,374   Louisiana $45,542
Pennsylvania $55,349   Utah $45,340
Hawaii  $54,565   Arizona $43,650
Rhode Island $54,523   Idaho $43,155
North Dakota $54,306   South Carolina $42,736
Vermont $53,598   Arkansas $42,566
Nebraska $52,110   Alabama $42,334
Delaware $51,449   Kentucky $41,779
Wisconsin $50,756   New Mexico $41,198
Kansas $50,155   West Virginia $40,578
South Dakota $50,141   Mississippi $37,994

Missouri’s per capita income annual growth rate of 3.6 percent was only .2 percentage points lower than the national average of 3.8 percent from 2017 to 2018. West Virginia had the highest per capita income annual growth at 5.5 percent. States that also had relatively high levels of per capita income growth in 2018 included Washington (5.3 percent), New York (5.0 percent), Illinois (4.9 percent), and Wyoming (4.7 percent). Per capita income is presented in nominal dollars for this analysis, which means it has not been adjusted for inflation.

US PerCapita Map 2016-2017

Missouri’s per capita income growth generally tracks with that of the nation. Missouri continues to show an annual growth rate increase, 2018 marks the second year of growth. Since 2016, Missouri’s per capita income has climbed nearly 2 percentage points overall.

 PerCapita Chart 2007-2016

 

 

 

Source: Bureau of Economic Analysis
Note-- All dollar estimates are in current dollars (not adjusted for inflation).


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