Accurate and timely measures of household income are critical for assessing the effects of macroeconomic shocks and government policy on American families. The U.S. Census Bureau’s annual report on Income and Poverty in the United States, based on the Current Population Survey Annual Social and Economic Supplement (CPS ASEC), is the official source of median household income. However, it is published with a substantial lag—approximately nine months after the year it measures—and it only provides annual averages (Semega, Kollar, Shrider, & Creamer, 2023). Income fluctuations occurring early in any given year may not appear in the official record until nearly two years later, limiting the usefulness of these data for real-time analysis.