In 2023/24 the mean disposable income per household in the United Kingdom was ****** British pounds, while the median disposable income for households was ****** pounds

In 2023/24, households in the top decile group in the United Kingdom had, on average, over 71,000 British pounds in equalized disposable household income, compared with the overall average of almost 37,000 pounds.

In 2022/23 the median annual household disposable income in the United Kingdom amounted to approximately ****** British pounds. Between 1994/95 and 2007/08 the average household disposable income showed year-on-year increases, but after this point, income levels began to stagnate and even decline in some years. Although average household disposable resumed a steady growth pattern between 2012/13 and 2016/17, it has fluctuated in more recent years, and declined in the most recent two years. Economic shocks and disposable income The steady growth of disposable income from 1994 to 2008 reflected the generally healthy UK economy in that period. After the global financial crisis, however, the UK economy was plunged into a deep recession that is mirrored by a decline in disposable income. Although there was a period of recovery between 2013 and 2016, the UK economy has suffered a series of economic shocks since that point. The Brexit Referendum of 2016, and the subsequent economic and political fallout, was followed by the COVID-19 pandemic in 2020, and in more recent years by the Inflation Crisis and Ukraine War. Living costs putting UK households under pressure Between January and April 2022, the share of people reporting an increase in their living costs compared with the previous month rose from ** percent to ** percent. This corresponded with significant price increases at that time, with CPI inflation surging from *** percent in February 2021 to a **-year-high of **** percent by October 2022. Although inflation did gradually start to decline in the following months, it wasn't until July 2023 that wages caught up with inflation. The surge in energy and food prices that caused this high inflation, was devastating for UK households, leading to the worst Cost of Living Crisis for decades.

Average UK household incomes taxes and benefits by household type, tenure status, household characteristics and long-term trends in income inequality.

Key information about UK Household Income per Capita

• United Kingdom Annual Household Income per Capita reached 34,805.008 USD in Dec 2023, compared with the previous value of 36,168.598 USD in Dec 2022.
• UK Annual Household Income per Capita data is updated yearly, available from Dec 1996 to Dec 2023, with an averaged value of 38,694.697 USD.
• The data reached an all-time high of 56,270.561 USD in Dec 2007 and a record low of 27,377.030 USD in Dec 1996.
• In the latest reports, Retail Sales of UK dropped 2.090 % YoY in May 2023.

In 2024, the highest median amount of disposable income was among those aged 25 to 34 year-olds, at 43,552 pounds, with the highest mean income among those aged between 55 and 65.

Estimates of UK regional gross disposable household income (GDHI) at current prices for ITL1, ITL2 and ITL3 regions.

United Kingdom Average Annual Household Income (AAHI): Gross data was reported at 68,866.000 GBP in 2024. This records a decrease from the previous number of 69,744.000 GBP for 2023. United Kingdom Average Annual Household Income (AAHI): Gross data is updated yearly, averaging 54,877.000 GBP from Dec 1978 (Median) to 2024, with 47 observations. The data reached an all-time high of 74,307.000 GBP in 2008 and a record low of 32,097.000 GBP in 1978. United Kingdom Average Annual Household Income (AAHI): Gross data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.H080: Average Annual Household Income.

This article examines the effect of VAT on average disposable income for both low income and high income households.

Source agency: Office for National Statistics

Designation: National Statistics

Language: English

Alternative title: The effect of VAT on household disposable income

Average weekly household expenditure on goods and services in the UK. Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition.

Real household disposable income per person in the United Kingdom is expected to grow by *** percent in 2024/25, with disposable income growth slowing from that point onwards. In 2022/23, disposable income fell by *** percent, after falling by *** percent in 2021/22, and *** percent in 2020/21.

The data give estimates of gross disposable household sector income for UK regions and countries, and Welsh sub-regions for the period 1997 to 2023.

3-year average median equivalised weekly income after housing costs (AHC) indexed to 2022/23 prices. This dataset is one of the Greater London Authority's measures of Economic Fairness. Click here to find out more.

Annual estimates of UK regional gross disposable household income (GDHI) for local authorities by International Territorial Level (ITL) region.

Estimates of mean annual household income for the year 2020 for small areas (Middle layer Super Output Areas, or MSOAs). The results are determined by the inclusion of the submitted postcode/coordinates/UPRN within the corresponding MSOA.

Date of the next update to be announced.