A new U.S. Census Bureau report finds that real median household income in 2022 fell in comparison to 2021. Overall, real median household income fell by 2.3 percent from $76,330 in 2021 to $74,580 in 2022. Experts believe this is due to the increased cost of living paired with inflation. 

Between 2021 and 2022, inflation rose 7.8 percent, becoming the highest annual increase since 1981. 

Real median earnings of all workers (including part-time and full-time workers) decreased 2.2 percent between 2021 and 2022, while median earnings of those who worked full-time, year-round decreased 1.3 percent. 

Disparities remain among different ethnicities, with White and non-Hispanic White households experiencing a decrease between 2021 and 2022 of 3.5 percent and 3.6 percent, respectively. 

The real median incomes for Black, Asian and Hispanic households were not statistically different from 2021. Asian households had the highest median income at $108,700 in 2022, followed by non-Hispanic White households at $81,060 households and Hispanic households at $62,800. Black households had the lowest median income at $52,860. 

Meanwhile, Americans are experiencing higher rates of poverty. The Supplemental Poverty Measure (SPM) rate in 2022 rose to 12.4 percent, an increase of 4.6 percentage points from 2021. This is the first increase in the overall SPM poverty rate since 2010. The official poverty rate in 2022 reached 11.5 percent, with 37.9 million people in poverty.

More than 92 percent of the U.S. population had health insurance coverage for all or part of 2022, this was up slightly from 91.7 percent in 2021.

Nearly 26 million Americans did not have health insurance in 2022 and this is down slightly from 27.2 million in 2021.