Household income is the total combined income earned by all members of a household regardless of their relationship to one another.
It includes earnings from various sources such as wages, salaries, tips, business income, investment returns, social security, welfare payments, pensions, and other forms of financial support. This measure is commonly used to assess a household’s economic well-being, determine eligibility for financial assistance, and calculating income distribution across regions or demographics.
Household income is a key factor in budgeting, financial planning, and determining the standard of living for a family or group living under the same roof.