Age of householder
Per the latest American Community Survey by the Census Bureau, Tolland town sees its highest median household income among householders in the age group of 45 to 64 years old, at $171,088. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Tolland town, the median household income stands at $171,088 for householders within the 45 to 64 years age group, followed by $149,112 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $84,581.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $22,794(36.89%), escalating from a median of $61,787 in 2011 to $84,581 in 2021.
- 369(6.82%) households where the householder is under 25 years old.
- 1,469(27.15%) households with a householder aged between 25 and 44 years.
- 2,322(42.91%) households with a householder aged between 45 and 64 years.
- 1,251(23.12%) households where the householder is over 65 years old.
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Gender
In Tolland town, the population consists of 7,091 males (48.75%) and 7,455 females (51.25%). Here are the primary highlights from the gender-based income distribution analysis:
- In Tolland town, the median income for all workers aged 15 years and older, regardless of work hours, was $81,288 for males and $42,234 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $113,956 for males and $84,762 for females.
- In Tolland town, the median income for all workers aged 15 years and older, regardless of work hours, was $81,288 for males and $42,234 for females.
- In Tolland town, among full-time, year-round workers aged 15 years and older, males earned a median income of $113,956, while females earned $84,762, leading to a 26% gender pay gap among full-time workers. This illustrates that women earn 74 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Tolland town, the population is predominantly White, constituting 89.39% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for White households is $135,085.
- In Tolland town, White is both the largest group and the one with the highest median household income, which stands at $135,085.
- In Tolland town, the median household income for the households where the householder is White decreased by $2,158(1.57%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $137,243 in 2011 and $135,085 in 2021.
- In Tolland town, the median household income for Black or African American households was $51,813 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Tolland, Connecticut median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Tolland town decreased by $3,690 (2.74%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 3,863 (from $133,148 to $137,011). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 3,229 (from $137,011 to $133,782).
- It then further increased to $77,033 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4661, it is evident that income distribution in Tolland, Connecticut exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $151,050. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $36,932.
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