Per capita income in Hampton Roads rose somewhat in 2013, although it lagged behind the nation as a whole, according to a recent regional economic report.
James Clary, senior economist for the Hampton Roads Planning District Commission, said that per capita income for the region was $44,756 in 2013, an increase of 0.5 percent over 2012.
“Per capita income is considered one of the best measures of the overall health of an economy,” Clary said, giving an indication of the average well-being of individuals in the region.
While the region’s per capita income grew by 0.5 percent in 2013, Clary said, the nation’s PCI grew by 1.3 percent. “If regional income growth mirrored national income growth,” Clary said, “Hampton Roads’ PCI would be $1,410 greater.” According to HRPDC, this region’s per capita income is slightly below the average income of $46,177 for U.S. metropolitan areas. Hampton Roads ranks 16th out of its 35 reference ...
To view the rest of this article, you must log in. If you do not have an account with us, please subscribe here.