According to the U.S. Census Bureau, the average median household income in the U.S. is $49,445. The median means that half of the households in the US earned more and half earned less.

However, race does play a factor in median household income. While the combined total of all races came to $49,445, here is the breakdown by race:

Black: $32,068
Hispanic: $37,759
White: $54,629
Asian: $64,308

In the Bankruptcy Code a person must fall below the median income level for their state in order to file a chapter 7 bankruptcy. What's interesting about this is that the government recognizes that the median (average) income is different from state to state.

In my home state of Michigan the median income for a single wage earner household is considered to be $42,562. The highest median income level is in the state of New Jersey of $59,060 and the lowest median income level is in Mississippi of $32,658.