Income is an important part of the housing-affordability equation, so it's worth noting that Marylanders' personal income rose last year. So says the Bureau of Economic Analysis in an announcement today.

The figure increased 3.5 percent in 2008, to about $48,000 for every man, woman and child. (The federal government includes not just salary in "personal income" but also pension contributions, interest, rental income and the like, which is why it might seem high for a per-capita stat.)

Maryland's income per person was fifth highest in the country, same as the year before.

Here's the good news/bad news breakdown:

Good news: The state's increase was large enough that it wasn't entirely eaten up by inflation, which rose 3.3 percent last year, according to the BEA's reckoning. Nationwide, per-capita income rose 2.9 percent -- less than inflation.

Bad news: The state's increase was a lot smaller than in 2007, when income per person jumped 5.9 percent.

Good news: Maryland personal income didn't slide in October through December of last year. It did in most states, compared with the prior three months.

Bad news: Last year wasn't so hot for local residents in fields hurt by the recession. Much of the state's overall increase in personal income was due to the people working in government, health-care and professional services. Real estate, finance, construction and retail all had a downward effect on per-capita income.

I hope you and yours had more good income news last year than bad.