Data Source:

United States Department of Commerce, Bureau of Economic Analysis

Analysis:

Silicon Valley Institute for Regional Studies

Per capita income is from the United States Department of Commerce, Bureau of Economic Analysis (BEA). Values are calculated using personal income data and population figures from the U.S. Census Bureau mid-year population estimates released November 16, 2022 including new statistics for 2021 and revised statistics for 2010-2020. Silicon Valley data include Santa Clara and San Mateo Counties. All per capita income values have been inflation-adjusted and are reported in 2021 dollars using the Bay Area consumer price index for all urban consumers from the Bureau of Labor Statistics for Silicon Valley data, the California consumer price index for all urban consumers from the California Department of Finance May Revision Forecast (April 2022) for California data, and the U.S. city average consumer price index for all urban consumers from the Bureau of Labor Statistics based on January through October data. The personal per capita income for the United States is derived from state and regional data (as opposed to National Income and Product Accounts data), which include all persons who reside in a state, regardless of the duration of residence, except for foreign nationals employed by their home governments in the United States. State personal income includes the income of resident foreign nationals working in the United States—including migrant workers—regardless of length of residency. It excludes the portion of income earned abroad by U.S. citizens living abroad for less than a year. It also excludes the earnings of federal civilian and military personnel stationed abroad and the property income received by the federal pension plans of those workers.

Personal income is defined as the sum of wage and salary disbursements (including stock options), supplements to wages and salaries, proprietors’ income, dividends, interest, rental income, and personal current transfer receipts, less contributions for government social insurance.

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