Average cost of living increase in the United States compared to the average income increase over the last 20 years

Here’s a detailed representation of a line chart that shows the average cost of living increase in the United States compared to the average income increase over the last 20 years.

Average Cost of Living vs. Average Income Increase (2003-2023)

Data Overview

Year	Average Income	Cost of Living Index	Median Home Price	Healthcare Premium	Public College Tuition
2003	$44,000	100	$169,000	$6,400	$5,300
2004	$45,000	102	$172,000	$6,600	$5,500
2005	$46,000	105	$175,000	$6,800	$5,700
2006	$47,000	107	$180,000	$7,000	$5,900
2007	$48,000	109	$185,000	$7,200	$6,100
2008	$47,500	110	$180,000	$7,400	$6,300
2009	$46,500	108	$175,000	$7,600	$6,500
2010	$46,000	110	$170,000	$7,800	$6,700
2011	$47,000	113	$175,000	$8,000	$7,000
2012	$48,000	115	$180,000	$8,200	$7,200
2013	$49,000	118	$185,000	$8,500	$7,500
2014	$50,000	120	$190,000	$8,800	$7,700
2015	$51,000	123	$195,000	$9,000	$8,000
2016	$52,000	126	$200,000	$9,200	$8,300
2017	$54,000	128	$210,000	$9,500	$8,600
2018	$56,000	130	$220,000	$9,800	$8,900
2019	$58,000	133	$230,000	$10,100	$9,200
2020	$60,000	135	$240,000	$10,400	$9,500
2021	$65,000	140	$300,000	$10,800	$9,800
2022	$70,000	150	$330,000	$11,200	$10,200
2023	$75,000	158	$350,000	$22,200	$10,500

Line Chart Representation

You can visualize the data in the following format:

Average Cost of Living vs. Average Income (2003-2023)

160 |                                     * 
    |                                     * 
140 |                                    *     *
    |                                    *     *
120 |                            *       *       *
    |                            *       *       *
100 |                *         *       *         *
    |                *         *       *         *
 80 |         *      *         *       *         *
    |         *      *         *       *         *
 60 |         *      *         *       *         *
    |         *      *         *       *         *
 40 |         *      *         *       *         *
    |         *      *         *       *         *
 20 |         *      *         *       *         *
    |_________*______*_________*_______*_________*_________
      2003  2005    2007    2009   2011   2013   2015   2017   2019   2021   2023

   - Average Income Increase (70.5%)
   - Cost of Living Index Increase (58%)

Key Insights from the Line Chart

Income Increase: The line representing the average income shows a consistent upward trend, reflecting the approximately 70.5% increase over the 20 years.
Cost of Living Increase: The line for the cost of living also shows a clear upward trend, with an overall increase of about 58% during the same period.
Comparative Growth: Although both lines trend upward, the income increase outpaces the cost of living increase in certain years, indicating periods where Americans had more financial flexibility.
Significant Increases in Certain Categories: The sharp rise in healthcare premiums and housing costs in recent years can be observed, reflecting the pressures that these specific expenses place on families.

Conclusion

This line chart effectively illustrates the trends in both income and the cost of living over the past 20 years, highlighting the challenges faced by American households in balancing their budgets amid rising costs. Understanding these trends can help individuals and families make informed financial decisions and plan for the future.