Population Rank of 50 States

Indiana maintained its 11th place rank from 1920 through 1970.

Since 1970 it has fallen 6 places to just 17th.

Of the 9 “nearby” states, only Iowa, dropping 7 places performs worse at attracting and retaining citizens. Missouri, Wisconsin and West Virginia are essentially the same as Indiana, dropping 5 places each in this half century. Michigan and Kentucky slipped by 3 places. Illinois and Ohio, starting near the top at 5th and 6th place, declined just one place. Tennessee gained one place, from 17th to 16th, moving ahead of Indiana.

Indiana Population 2021 (Demographics, Maps, Graphs) (worldpopulationreview.com)

Indiana’s Population Gains: What’s Our Rank?

90 Years and Indiana Doubles Its Population (January-February 2015)

Census 2020: Indiana population up, Midwest population down in 2020 (indystar.com)

Personal Income Growth Since the Great Recession

The economic recovery between 2007 and 2019 was one of the slowest after a recession. Average U.S. personal income grew by 2.0% overall. Indiana’s 4 way tie for 19th place at 1.9% is above the median state, even though it is slightly below the U.S. 2.0% average. 10 states grew by 2.4% annually or faster. 19 grew by 1.5% or less per year. Among the nearby states, Indiana was the second fastest grower, trailing only Tennessee at 2.2%. Iowa, Wisconsin, Ohio and Kentucky grew just a little less quickly, with 1.5-1.6% rates. Michigan (1.4%), Missouri (1.3%), West Virginia (1.1% and Illinois (1.0%) trailed significantly.

States 2020 Personal Income Growth Was Highest in 20 Years | The Pew Charitable Trusts (pewtrusts.org)

Relative Per Capita Income

Year	IN	US	IN/US	Decade IN – US %
1970	3,849	4,218	91.3
1980	9,365	10,204	91.8	+1%
1990	17,768	19,641	90.5	-3%
2000	28,233	30,640	92.1	+3%
2010	35,453	40,518	87.5	-7%
2020	51,340	59,754	85.9	-3%

Indiana per capita income has trailed the national average throughout the last half century, starting at 91% of the national figure. Indiana gained a small amount in the first 30 years, reaching 92%. Indiana has slipped quite significantly to 86% in the last 20 years.

Per Capita Personal Income in Indiana (INPCPI) | FRED | St. Louis Fed (stlouisfed.org)

Personal income per capita (A792RC0A052NBEA) | FRED | St. Louis Fed (stlouisfed.org)

• Indiana: per capita real GDP 2000-2019 | Statista

United States | Per Capita Personal Income Trends over 1958-2020 (reaproject

Per Capita State GDP Rankings

State	1998	2018	Change
IL	11	12	-1
IA	33	21	+12
WI	28	24	+4
OH	20	25	-5
IN	27	32	-5
TN	31	36	-5
MI	26	37	-11
MO	23	38	-15
KY	35	44	-9
WV	47	48	-1

In the 20 years from 1998-2018, Indiana per capita GDP grew by an average level for the heartland, 19%, the same as Ohio, West Virginia and Tennessee. Kentucky, Missouri and Michigan grew by only 10-14%. Illinois, Wisconsin and Iowa grew by 24% or more, close to the national average.

During this time, Indiana dropped from a middling 27th rank to a lower 32nd rank. Ohio and Tennessee also dropped by 5 places. Kentucky dropped by 9, Michigan by 11 and Missouri by 15 places. Illinois and West Virginia slipped by 1 notch. Iowa and Wisconsin increased their rankings.

Useful Stats: Per Capita Gross State Product, 1998-2018 | SSTI

Median Household Income Rank

State	1984	2018	Change
IL	14	14	0
IA	29	18	+11
WI	18	26	-8
MO	17	31	-14
OH	19	32	-13
MI	16	33	-17
IN	30	34	-4
TN	47	41	+6
KY	42	44	-2
WV	52	47	+5

Over a slightly longer time period, 1984-2018, Indiana again slipped by a few places, from 30th to 34th place. Four states dropped by 8 or more places: Wisconsin, Ohio, Missouri and Michigan. Illinois and Kentucky maintained their relative positions. West Virginia, Tennessee and Iowa improved their rankings.

Median Household Income by State: 2018 Update – dshort – Advisor Perspectives

Useful Stats: Median Household Income by State, 1984-2018 | SSTI

Summary

Indiana has been average or above average versus its “peer group” of 9 nearby states, but it has lost position versus the nation on all 5 measures. Personal income growth since 2007 is the best result, at 1.9% versus 2.0% national average. Indiana population has fallen 6 spots to 17th in 50 years. Per capita income versus the nation has slipped by 6% to just 86% of the average in 20 or 50 years. Per capita state GDP has dropped 5 places to 32nd place in 20 years. Median household income has fallen 4 places to 34th place in 34 years.

Indiana’s business friendly low tax/low service strategy has helped the state do better than its peers, but has not delivered above average growth by any measure.