SINGAPORE (Feb 8): The median monthly household income from work for Singapore resident employed households increased by 2% in nominal terms to $9,023 in 2017 from $8,846 in 2016.

In real terms – after CPF deduction – median monthly household income from work increased by 1.5%, according to the latest Key Household Income Trends, 2017 released by the Singapore Department of Statistics on Thursday.

After accounting for household size, median monthly household income from work per household member increased by 4.5% in nominal terms to $2,699 in 2017, or 3.9% in real terms.

From 2012 to 2017, real growth in median monthly household income per household member was 22.9% cumulatively or 4.2% per annum.

In 2017, resident employed households in all income groups enjoyed real growth in average household income from work per household member.

Meanwhile, from 2012 to 2017, real growth in average household income from work per household member was faster for the lowest 50% households, with up to 4.6% per annum, compared to the top 50% households with up to 4.2% per annum.

The research also found that resident households in one- and two-room HDB flats received more government transfers, with about $10,245 per household member on average, more than twice as much as the transfers received by resident households staying in other dwelling types.