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Understanding Asians

Asian Americans: Income Levels

Asian Americans: Income Levels

The total number of people identified as Asians in the United States almost tripled in the previous three decades. 
There are considerable differences in income, age, and other demographic categories. For instance, the household income of Asians exceeds the total population’s household incomes.
The diversification among the Asian American population leads to diversification in occupations, education levels, and buying power. For instance, Indian Americans are the most highly educated people- among which 75% hold bachelor’s degrees- and are among the highest earners- with a median household income of $119,000. 
However, the Asian American community has enormous economic influence. People under this population have elevated household incomes and substantial purchasing power.

On average, Asian Americans have high income as well as education levels. However, they have lower homeownership rates and high poverty rates.

While Asian Americans have higher personal and household income levels, the poverty rate is higher than European Americans.

Asian households have around 41% higher income than the national average, and purchasing power increases.

On average, the household income for Asian households is USD 1,20,000 per annum, exceeding all ethnic groups & White Americans.

By 2024, Asian American purchasing power will reach $ 1.6 trillion.

Source:

https://www.marketingcharts.com/demographics-and-audiences/household-income-107552

https://economictimes.indiatimes.com/nri/migrate/indian-americans-household-income-average-usd-120000-annually-report/articleshow/80573809.cms?from=mdr

https://www.marketingcharts.com/demographics-and-audiences/household-income-107552

https://www.statista.com/statistics/233324/median-household-income-in-the-united-states-by-race-or-ethnic-group/

https://www.nytimes.com/interactive/2021/08/21/us/asians-census-us.html

https://www.statista.com/statistics/1086359/median-household-income-race-us/

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