Baltimore County vs. Maryland | Total Personal Income Trends over 1969-2022

Introduction

Baltimore County:

2022 TPI = $57,385,048K

2022 Percent of State = 13.25%

Maryland:

2022 TPI = $432,933,432K

2022 Percent of U.S. = 1.98%

The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.

The following graphs highlight trends in the pattern of growth and change in the total personal income of Baltimore County and Maryland with comparison to the nation. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.

Data Definition:

Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.

Baltimore County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Baltimore County's annual total personal income over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Baltimore County over time.

When measured in current dollars, Baltimore County's total personal income increased 1,738.31%, from $3,122M in 1970 to $57,385M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 213.13%, from $15,793M in 1970 to $49,452M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 traces Baltimore County's and Maryland's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Baltimore County's real total personal income rose from $15,031M in 1969 to $49,452M in 2022, for a net gain of $34,420M, or 228.99%. In comparison, Maryland's real total personal income advanced from $91,277M in 1969 to $373,080M in 2022, for a net gain of $281,803M, or 308.73%.

Real Total Personal Income Indices (1969=100): 1969-2022

Figure 3.

Figure 3 shows Baltimore County's real total personal income growth in a broader context by offering direct comparisons across time with Maryland, the United States. The growth indices shown here express each region's real total personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.

Baltimore County's overall real total personal income growth was 228.99% over 1969-2022 trailed Maryland's increase of 308.73%, and fell below the United States' increase of 348.76%.

Total Personal Income as a Percent of the Maryland Total: 1969-2022

Figure 4.

Another interesting and insightful way of comparing the total personal income growth of Baltimore County is to trace its individual percentage contributions to Maryland's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster, or declined less, than Maryland's total personal income, while a declining share shows it grew more slowly.

In 1969, Baltimore County's total personal income comprised 16.47% of Maryland's total personal income, while in 2022 it totaled 13.25% thereby yielding a -3.21% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Baltimore County	-3.21%	=	13.25%	-	16.47%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Baltimore County Real Total Personal Income:
Annual Percent Change, 1970-2022

Figure 5.

Figure 5 highlights the short-run pattern of Baltimore County's real total personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also illustrated on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.

On average, Baltimore County's real total personal income grew at an annual rate of 2.30% over 1970-2022. The county posted its highest growth in 1972 (7.41%) and recorded its lowest growth in 2022 (-5.87%). In 2022, Baltimore County's real total personal income declined by -5.87%

Baltimore County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022

Figure 6.

Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again shows the annual percent change in Baltimore County's real total personal income since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.

During the 1970s, Baltimore County's annual real total personal income growth rate averaged 3.22%. It averaged 2.98% in the 1980s, 2.77% throughout the 1990s, 1.80% throughout the 2000s, 1.49% throughout the 2010s, -0.25% thus far this decade (2020-2022).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 7.

Figure 7 compares the decade average growth rates for Baltimore County noted in the previous graph with the corresponding decade averages for Maryland and the nation. As the chart reveals, Baltimore County's average annual real total personal income growth exceeded Maryland's average during the 1970s (3.22% vs. 3.14%), amounted to less than Maryland's average in the 1980s (2.98% vs. 3.97%), trailed Maryland's average during the 1990s (2.77% vs. 2.81%), fell below Maryland's average in the 2000s (1.80% vs. 2.66%), amounted to less than Maryland's average in the 2010s (1.49% vs. 1.65%), and recorded under Maryland's average over the 3 year period of the current decade, 2020-2022 (-0.25% vs. 0.58%).

Finally, relative to nationwide real total personal income growth trends, Baltimore County fell under the nation in the 1970s (3.22% vs. 3.50%), posted below the nation throughout the 1980s (2.98% vs. 3.16%), fell under the nation in the 1990s (2.77% vs. 3.27%), recorded underneath the nation during the 2000s (1.80% vs. 2.06%), fell below the nation in the 2010s (1.49% vs. 2.72%), and fell under the nation over 2020-2022 (-0.25% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1970-2022	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%
Baltimore	2.30	3.22	2.98	2.77	1.80	1.49	-0.25	-5.87
Maryland	2.72	3.14	3.97	2.81	2.66	1.65	0.58	-4.62
United States	2.89	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

Baltimore County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	2,838,360	0.189	15,031,298	100.0	N	16.47
1970	3,121,620	0.198	15,792,877	105.1	5.07	16.29
1971	3,437,142	0.206	16,681,107	111.0	5.62	16.27
1972	3,817,948	0.213	17,917,909	119.2	7.41	16.47
1973	4,244,283	0.225	18,901,283	125.7	5.49	16.60
1974	4,756,269	0.248	19,183,919	127.6	1.50	17.05
1975	5,099,588	0.269	18,985,808	126.3	-1.03	16.88
1976	5,527,427	0.283	19,508,795	129.8	2.75	16.80
1977	6,001,064	0.302	19,886,877	132.3	1.94	16.82
1978	6,644,741	0.323	20,587,251	137.0	3.52	16.77
1979	7,230,218	0.351	20,573,707	136.9	-0.07	16.60
1980	7,989,650	0.389	20,524,173	136.5	-0.24	16.47
1981	8,953,854	0.424	21,110,112	140.4	2.85	16.58
1982	9,569,708	0.448	21,374,792	142.2	1.25	16.35
1983	10,162,320	0.467	21,772,046	144.8	1.86	16.18
1984	11,148,545	0.484	23,015,638	153.1	5.71	16.02
1985	11,984,424	0.501	23,907,644	159.1	3.88	15.88
1986	12,728,457	0.512	24,851,046	165.3	3.95	15.62
1987	13,584,218	0.528	25,726,711	171.2	3.52	15.49
1988	14,900,142	0.549	27,157,827	180.7	5.56	15.41
1989	15,778,775	0.573	27,555,884	183.3	1.47	15.10
1990	16,774,107	0.598	28,062,078	186.7	1.84	15.13
1991	17,272,335	0.618	27,960,525	186.0	-0.36	15.02
1992	17,968,314	0.634	28,332,252	188.5	1.33	14.90
1993	18,360,230	0.650	28,246,508	187.9	-0.30	14.64
1994	19,226,022	0.664	28,974,052	192.8	2.58	14.64
1995	20,493,733	0.678	30,247,267	201.2	4.39	14.95
1996	21,421,145	0.692	30,954,070	205.9	2.34	14.93
1997	22,927,461	0.704	32,564,178	216.6	5.20	15.14
1998	24,672,843	0.710	34,766,642	231.3	6.76	15.09
1999	26,015,798	0.720	36,132,551	240.4	3.93	15.03
2000	28,009,819	0.738	37,942,374	252.4	5.01	14.86
2001	29,437,054	0.753	39,091,995	260.1	3.03	14.80
2002	30,335,166	0.763	39,762,444	264.5	1.72	14.68
2003	31,205,179	0.779	40,061,082	266.5	0.75	14.45
2004	32,853,056	0.798	41,155,318	273.8	2.73	14.27
2005	34,292,622	0.821	41,755,600	277.8	1.46	14.16
2006	36,391,810	0.844	43,097,833	286.7	3.21	14.28
2007	38,206,110	0.866	44,114,344	293.5	2.36	14.37
2008	39,360,757	0.892	44,141,255	293.7	0.06	14.12
2009	38,339,572	0.889	43,116,443	286.8	-2.32	13.81
2010	39,223,897	0.905	43,334,619	288.3	0.51	13.65
2011	40,414,670	0.928	43,548,414	289.7	0.49	13.33
2012	41,674,776	0.945	44,084,431	293.3	1.23	13.43
2013	41,773,249	0.958	43,613,294	290.1	-1.07	13.50
2014	43,149,359	0.971	44,428,454	295.6	1.87	13.53
2015	44,645,454	0.973	45,884,803	305.3	3.28	13.41
2016	45,582,045	0.983	46,377,890	308.5	1.07	13.24
2017	47,241,960	1.000	47,241,960	314.3	1.86	13.27
2018	48,923,898	1.020	47,942,515	319.0	1.48	13.30
2019	51,710,617	1.035	49,955,674	332.3	4.20	13.60
2020	54,480,535	1.046	52,067,219	346.4	4.23	13.61
2021	57,265,072	1.090	52,536,281	349.5	0.90	13.43
2022	57,385,048	1.160	49,451,538	329.0	-5.87	13.25

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

Maryland:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	17,235,920	0.189	91,277,445	100.0	N	2.18
1970	19,167,231	0.198	96,970,712	106.2	6.24	2.24
1971	21,125,827	0.206	102,527,673	112.3	5.73	2.28
1972	23,176,397	0.213	108,768,524	119.2	6.09	2.28
1973	25,560,539	0.225	113,830,056	124.7	4.65	2.26
1974	27,902,797	0.248	112,543,044	123.3	-1.13	2.24
1975	30,204,127	0.269	112,450,212	123.2	-0.08	2.22
1976	32,906,940	0.283	116,143,508	127.2	3.28	2.20
1977	35,675,755	0.302	118,225,593	129.5	1.79	2.16
1978	39,617,165	0.323	122,744,965	134.5	3.82	2.13
1979	43,548,963	0.351	123,919,310	135.8	0.96	2.10
1980	48,519,338	0.389	124,638,661	136.5	0.58	2.10
1981	53,995,511	0.424	127,302,867	139.5	2.14	2.08
1982	58,547,190	0.448	130,770,342	143.3	2.72	2.11
1983	62,799,141	0.467	134,542,679	147.4	2.88	2.11
1984	69,586,502	0.484	143,658,007	157.4	6.78	2.12
1985	75,465,695	0.501	150,545,992	164.9	4.79	2.15
1986	81,514,058	0.512	159,148,086	174.4	5.71	2.19
1987	87,723,309	0.528	166,136,338	182.0	4.39	2.23
1988	96,684,853	0.549	176,223,190	193.1	6.07	2.27
1989	104,522,243	0.573	182,536,531	200.0	3.58	2.27
1990	110,892,381	0.598	185,516,321	203.2	1.63	2.26
1991	115,010,027	0.618	186,178,695	204.0	0.36	2.27
1992	120,581,709	0.634	190,131,991	208.3	2.12	2.23
1993	125,400,694	0.650	192,924,145	211.4	1.47	2.22
1994	131,300,749	0.664	197,873,213	216.8	2.57	2.21
1995	137,086,621	0.678	202,329,930	221.7	2.25	2.18
1996	143,495,296	0.692	207,354,155	227.2	2.48	2.15
1997	151,432,755	0.704	215,081,959	235.6	3.73	2.14
1998	163,509,024	0.710	230,401,488	252.4	7.12	2.16
1999	173,125,764	0.720	240,449,110	263.4	4.36	2.17
2000	188,437,155	0.738	255,258,805	279.7	6.16	2.19
2001	198,926,881	0.753	264,172,108	289.4	3.49	2.21
2002	206,707,343	0.763	270,945,908	296.8	2.56	2.26
2003	215,973,447	0.779	277,265,832	303.8	2.33	2.28
2004	230,279,226	0.798	288,472,855	316.0	4.04	2.30
2005	242,213,966	0.821	294,926,110	323.1	2.24	2.30
2006	254,883,062	0.844	301,851,092	330.7	2.35	2.26
2007	265,895,070	0.866	307,013,371	336.4	1.71	2.23
2008	278,708,349	0.892	312,558,427	342.4	1.81	2.24
2009	277,623,634	0.889	312,213,801	342.0	-0.11	2.30
2010	287,359,366	0.905	317,475,049	347.8	1.69	2.29
2011	303,270,094	0.928	326,785,585	358.0	2.93	2.28
2012	310,420,376	0.945	328,369,027	359.7	0.48	2.23
2013	309,329,474	0.958	322,954,943	353.8	-1.65	2.20
2014	318,983,090	0.971	328,438,844	359.8	1.70	2.16
2015	332,956,246	0.973	342,199,042	374.9	4.19	2.15
2016	344,195,091	0.983	350,204,602	383.7	2.34	2.17
2017	356,078,970	1.000	356,078,970	390.1	1.68	2.14
2018	367,831,289	1.020	360,452,820	394.9	1.23	2.10
2019	380,342,055	1.035	367,434,095	402.5	1.94	2.07
2020	400,176,131	1.046	382,449,592	419.0	4.09	2.04
2021	426,367,416	1.090	391,159,178	428.5	2.28	1.99
2022	432,933,432	1.160	373,080,179	408.7	-4.62	1.98

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

United States:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
1969	791,229,000	0.189	4,190,165,758	100.0	N
1970	855,525,000	0.198	4,328,265,709	103.3	3.30
1971	924,613,000	0.206	4,487,323,465	107.1	3.67
1972	1,016,408,000	0.213	4,770,076,966	113.8	6.30
1973	1,133,468,000	0.225	5,047,731,018	120.5	5.82
1974	1,244,912,000	0.248	5,021,223,733	119.8	-0.53
1975	1,362,505,000	0.269	5,072,617,275	121.1	1.02
1976	1,495,704,000	0.283	5,279,017,400	126.0	4.07
1977	1,651,632,000	0.302	5,473,329,799	130.6	3.68
1978	1,855,849,000	0.323	5,749,934,936	137.2	5.05
1979	2,073,296,000	0.351	5,899,598,782	140.8	2.60
1980	2,313,972,000	0.389	5,944,235,512	141.9	0.76
1981	2,590,995,000	0.424	6,108,676,176	145.8	2.77
1982	2,777,640,000	0.448	6,204,105,336	148.1	1.56
1983	2,969,333,000	0.467	6,361,584,112	151.8	2.54
1984	3,275,415,000	0.484	6,761,937,695	161.4	6.29
1985	3,508,482,000	0.501	6,999,046,441	167.0	3.51
1986	3,717,756,000	0.512	7,258,548,586	173.2	3.71
1987	3,931,800,000	0.528	7,446,308,852	177.7	2.59
1988	4,264,433,000	0.549	7,772,592,728	185.5	4.38
1989	4,605,107,000	0.573	8,042,309,775	191.9	3.47
1990	4,897,332,000	0.598	8,192,943,538	195.5	1.87
1991	5,072,291,000	0.618	8,211,045,100	196.0	0.22
1992	5,406,546,000	0.634	8,524,985,809	203.5	3.82
1993	5,643,648,000	0.650	8,682,535,385	207.2	1.85
1994	5,933,938,000	0.664	8,942,579,420	213.4	3.00
1995	6,278,125,000	0.678	9,266,058,093	221.1	3.62
1996	6,660,854,000	0.692	9,625,094,288	229.7	3.87
1997	7,068,422,000	0.704	10,039,373,926	239.6	4.30
1998	7,584,003,000	0.710	10,686,661,406	255.0	6.45
1999	7,978,449,000	0.720	11,081,025,264	264.5	3.69
2000	8,620,234,000	0.738	11,677,052,911	278.7	5.38
2001	8,990,104,000	0.753	11,938,732,039	284.9	2.24
2002	9,146,700,000	0.763	11,989,225,466	286.1	0.42
2003	9,474,684,000	0.779	12,163,560,736	290.3	1.45
2004	10,008,929,000	0.798	12,538,275,270	299.2	3.08
2005	10,540,800,000	0.821	12,834,755,927	306.3	2.36
2006	11,291,446,000	0.844	13,372,153,008	319.1	4.19
2007	11,925,044,000	0.866	13,769,145,681	328.6	2.97
2008	12,423,410,000	0.892	13,932,275,429	332.5	1.18
2009	12,058,253,000	0.889	13,560,635,845	323.6	-2.67
2010	12,547,501,000	0.905	13,862,497,514	330.8	2.23
2011	13,299,818,000	0.928	14,331,082,712	342.0	3.38
2012	13,905,749,000	0.945	14,709,785,897	351.1	2.64
2013	14,063,283,000	0.958	14,682,748,144	350.4	-0.18
2014	14,778,160,000	0.971	15,216,235,418	363.1	3.63
2015	15,467,113,000	0.973	15,896,476,839	379.4	4.47
2016	15,884,741,000	0.983	16,162,082,333	385.7	1.67
2017	16,658,962,000	1.000	16,658,962,000	397.6	3.07
2018	17,514,402,000	1.020	17,163,073,878	409.6	3.03
2019	18,343,601,000	1.035	17,721,060,157	422.9	3.25
2020	19,609,985,000	1.046	18,741,324,605	447.3	5.76
2021	21,392,812,000	1.090	19,626,252,970	468.4	4.72
2022	21,820,248,000	1.160	18,803,588,325	448.8	-4.19

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PN

Outline of Analysis

Download, Print or Share

Please stay tuned...
while your request is processing:

Outline of Analysis

Download, Print or Share

Please stay tuned...while your request is processing:

Please stay tuned...
while your request is processing: