Household income is a measure of income received by the household sector. It includes every form of cash income, e.g., salaries and wages, retirement income, investment income and cash transfers from the government. It may include near-cash government transfers like food stamps, and it may be adjusted to include social transfers in-kind, such as the value of publicly provided health care and education.
Household income can be measured on various bases, such as per household income, per capita income, per earner income, or on an equivalised basis. Because the number of people or earners per household can vary significantly between regions and over time, the choice of measurement basis can impact household income rankings and trends.
When taxes and mandatory contributions are subtracted from household income, the result is called net or disposable household income. A region's mean or median net household income can be used as an indicator of the purchasing power or material well-being of its residents. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group. Median income is the amount that divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.
The list below represents a national accounts-derived indicator for a country or territory's gross household disposable income per capita (including social transfers in kind). According to the OECD, 'household disposable income is income available to households such as wages and salaries, income from self-employment and unincorporated enterprises, income from pensions and other social benefits, and income from financial investments (less any payments of tax, social insurance contributions and interest on financial liabilities). 'Gross' means that depreciation costs are not subtracted.'[1] This indicator also takes account of social transfers in kind 'such as health or education provided for free or at reduced prices by governments and not-for-profit organisations.'[1] The data shown below is published by the OECD and is presented in purchasing power parity (PPP) in order to adjust for price differences between countries.
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