According to the most recent estimates of the Bureau of the Census, part of the U.S. Department of Commerce's Social and Economics Statistics Administration, the median iricome of all families in the United States was $12,050 in 1973. Of the 55.1 million families in the United States in March 1974, 19.5 million or 35.5 percent received incomes of $15,000 or more in 1973. There were 14.1 million families (25.5 percent) with incomes between $10,000 and $15,000; 8.2 million families (14. 9 percent) with incomes between $7,000 and $10,000; 5.2 million families (9.4 percent) with incomes between $5,000 and $7,000; and 8.0 million families (14.6 percent) with incomes below $5,000.
The $12,050 median income for families in 1973 represents an increase of about 8.4 percent over the 1972 median. Although most of this increase was eroded by rising prices, the net gain in real purchasing power was still significant. After adjusting for the 6.2 percent rise in prices last year, the 1973 median in terms of constant dollars increased by about 2.1 percent over the 1972 median.
Census statistics date back to 1790 and reflect the growth and change of the United States. Past census reports contain some terms that today’s readers may consider obsolete and inappropriate. As part of our goal to be open and transparent with the public, we are improving access to all Census Bureau original publications and statistics, which serve as a guide to the nation's history.