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Indiana income growth 40th in nation since Great Recession, is 16th lowest in income

The Indiana Statehouse in Indianapolis.

Indiana has seen the 40th largest increase in median income since the Great Recession in 2008 and has the 16th lowest median income in the country, a new study found.

SafeHome.org, a review site on home and personal security products, crunched U.S. Census Bureau data for its "American Workers Earnings By State" study that found Indiana ranked 35th nationally with a median income of $35,730, ahead of only Nevada, Montana, Tennessee, Kentucky, Oklahoma, Florida, Idaho, New Mexico, South Carolina, Alabama, South Dakota, Louisiana, West Virginia, Arkansas and Mississippi. Median income has only risen by 0.7% in the Hoosier state since 2008.

Median income growth also has been slow across the country since the financial crisis just over a decade ago.

"Despite a general sense that the American economy has rebounded, the national median annual wage has grown by just 2% since 2008 from $37,896 to $38,640," SafeHome.org said in a press release.

The study found the median annual wage nationally among all occupations breaks down to about $18 an hour. About one in five Americans earns between $35,000 and $50,000 a year, but the amount of income varies widely by state.

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In Indiana, 18.4% of residents make $24,999 or less, 18.2% make between $25,000 and $34,999, 22.6% make between $35,000 and $49,999, and 16.2% make between $50,000 and $64,999. 

An estimated 6.3% make between $65,000 and $74,999, 8.8% make between $75,000 and $99,999, and 9.5% make more than $100,000.

Neighboring Illinois ranked No. 17 in overall median income at $39,950, and had the 12th highest top wage of $101,170 for the 90th percentile of earners.

An estimated 15.5% of Illinois residents take home an income of more than $100,000 a year.

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Business Reporter

Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.