Another factor that isn't often acknowledged when making comparisons of 'household income' over time: households are shrinking. To contrive a stark example, sa

Another factor that isn't often acknowledged when making comparisons of 'household income' over time: households are shrinking. To contrive a stark example, say 30 years prior the median household size was 4 people, and the household income was $100K (in real dollars). Fast-forward to a later period, median household size 3 people (due to later marrying, fewer children, more people living alone), and median household income $90K. A politician or publication wanting to preach stagnation will run with the headline: "Household Income down 10%!". But in actuality, the household income per household member has risen from $25K to $30K, a 25% increase. (Real-life effects are much subtler than this, but I believe in the same direction for most recent analyses of 'household income'.)