Business & Real Estate

Sacramento region sees median income slide in 2013

Median household income fell slightly in the Sacramento region during 2013, widening the gap between the region’s wealthiest residents and everyone else, according to U.S. census figures released Thursday.

The median household income for the region – the middle income in a list ranked from top to bottom – was $57,027 in 2013, down from $57,515 in 2012, after adjusting for inflation. Median incomes have fallen nearly every year since 2008, when the typical Sacramento household earned $66,033.

Median incomes dropped across all income groups in the region – except for the richest 20 percent of households, who saw their incomes rise 3 percent. (The richest 5 percent of households saw incomes rise 6 percent.)

Sacramento lagged behind California and the nation, which saw slight gains in median household income from 2012 to 2013.

Also on Thursday, the Federal Reserve reported that Americans’ household wealth reached a record high – $81.5 trillion – in the second quarter, boosted by stock market gains and higher home prices. Americans’ stock and mutual fund portfolios gained $1 trillion in the April-June quarter, according to the Fed. The value of their homes increased $230 billion.

The Fed’s figures aren’t adjusted for population growth or inflation. Household wealth, or net worth, reflects the value of homes, stocks, and other assets minus mortgages, credit cards and other debts.

U.S. net worth has rebounded dramatically since the depths of the recession. During the first quarter of 2009, as the stock market’s losses deepened, net worth fell as low as $55.6 trillion – 19 percent below its pre-recession peak of $68.8 trillion.

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