Median income rose to $80,610 in 2023

Americans saw their incomes rise last year, even after accounting for inflation.

Median household income rose to $80,610 in 2023, the Census Bureau reported Tuesday. That’s up 4% from the year before. This is the first statistically significant annual increase in inflation-adjusted median household income since 2019, the Census Bureau said.

Americans’ finances are a key talking point in this year’s presidential election. Former President Donald Trump argues that people were better off in his first term and have suffered from the spike in prices in recent years. Vice President Kamala Harris has stressed that she will focus on strengthening the middle class and has released proposals that aim to reduce people’s cost of living.

This story is breaking and will be updated.