Median household income rose 3.2% in 2016 to $59,039, finally surpassing the previous inflation-adjusted record of $58,665 set in 1999, yes 1999! In addition, the male-female wage gap narrowed from 79.6% in 2015, to 80.5%, and the poverty rate declined to 12.7%. In 2000, it was just 11.3%, close to the record 1972 low of 11.1%. Poverty is currently defined as an income below $24,563 for a family of four.