D.C. has seen a big decline in its median household income since its last Census data in 2013.
The District is now home to 6.5 million residents.
According to data from the Census Bureau, median household incomes dropped by 5.9 percent over the last three years, the second-largest drop among the nation’s 50 largest metropolitan areas.
The metro areas with the biggest drops were Los Angeles, San Francisco, San Jose and Seattle.
The District’s median income dropped by $1,038 between 2014 and 2017, according to the data.
Income growth is typically accompanied by slower economic growth.
According to the Census, average income growth has averaged 1.8 percent per year over the past decade, while median household growth has been at about 1.1 percent per decade.
Inflation is typically lower for lower-income households.
The CPI, which measures inflation, is also lower for higher-income families.
The median household earned $47,500 in 2016, up from $39,000 in 2014.
Median income growth over the years has averaged 2.5 percent per person per year, according the Census.
The Census also notes that median income is higher for households headed by people with more education and higher income.
D.C.’s median income fell by $7,634 between 2016 and 2017.
“The decline in median household disposable income over the course of the last decade has been very significant and indicates that the housing market is likely to be a drag on economic activity,” said Mark Zandi, chief economist for Moody’s Analytics.
“These trends underscore the importance of keeping the economy growing at a rate consistent with population growth.”
According the Census data, the District has the fifth-largest concentration of single-family homes in the country.
This makes it hard for families to afford housing.
While median household earnings have increased slightly, it’s still more than 10 percent lower than the national average, according and the Census also noted that the percentage of households with incomes below the poverty level is higher in the District.
Some economists are calling for the federal government to allow the Federal Housing Administration to lend subsidized housing to more people in the city.