, Singapore
Photo by Towfiqu barbhuiya from Unsplash

Median household income up 7.6% in nominal terms in 2023

It also rose 2.8% in real terms.

The median monthly household income in Singapore grew 7.6% in nominal terms from $10,099 in 2022 to $10,869 in 2023, the Singapore Department of Statistics reported.

In real terms, the median monthly household income from work rose 2.8% after adjusting to inflation.

From 2018 to 2023, the median monthly household income from work of resident-employed households increased by 3.1% cumulatively or 0.6% per annum in real terms. 

On average, household income from work per household members amongst resident-employed households increased between 2.5% and 6.8% across the income deciles in nominal terms.

In real terms, those in the 1st, 9th, and 10th deciles recorded declines of 1.7%, 0.2%, and 1.9%, respectively. 

In addition, resident households received $6,371 per household member on average from government schemes in 2023, higher than the $5,859 received in 2022, whilst HDB 1- & 2-room flats residents received an average of $13,623 per household member.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!