Median Household Income in Bates City, MO (2010-2023, in 2023 inflation-adjusted dollars)
Below, you will find a table illustrating the median household income in Bates City, spanning the years from 2010 to 2023, with all figures adjusted to 2023 inflation-adjusted dollars.
| Year | Median Household Income | YOY Change($) | YOY Change(%) |
|---|---|---|---|
| 2010 | 91,321 | - | - |
| 2011 | 83,393 | -7,928 | -8.68% |
| 2012 | 75,017 | -8,376 | -10.04% |
| 2013 | 64,045 | -10,972 | -14.63% |
| 2014 | 64,610 | 565 | 0.88% |
| 2015 | 50,793 | -13,817 | -21.39% |
| 2016 | 59,697 | 8,904 | 17.53% |
| 2017 | 52,478 | -7,219 | -12.09% |
| 2018 | 66,038 | 13,560 | 25.84% |
| 2019 | 64,761 | -1,277 | -1.93% |
| 2020 | 70,203 | 5,442 | 8.40% |
| 2021 | 72,313 | 2,110 | 3.01% |
| 2022 | 83,821 | 11,508 | 15.91% |
| 2023 | 83,333 | -488 | -0.58% |
TABLE OF CONTENTS
Bates City, MO median household income trends: 2010 to 2023
From 2010 to 2023, the median household income for Bates City decreased by $7,988 (8.75%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $5,602 (7.68%) between 2010 and 2023.
Analyzing the trend in median household income between the years 2010 and 2023, spanning 13 annual cycles, we observed that median household income, when adjusted for 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 6 years and declined for 7 years.
The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 13,560 (from $52,478 to $66,038). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 13,817 (from $64,610 to $50,793).
In Missouri, among cities with populations of fewer than 5,000 residents, Bates City ranks 85th out of 602 for median household income. This rank highlight its position as one of the top-earning small cities within the state of Missouri.
Median household income in Bates City, MO by household size
To gain deeper insights into the median household income for Bates City, we conducted an analysis of the most recent available data from the U.S. Census Bureau American Community Survey 5 year Estimates (the most recent data available).
Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, Bates City did not include 3, 6, or 7-person households. Across the different household sizes in Bates City the mean income is $100,156, and the standard deviation is $62,927. The coefficient of variation (CV) is 62.83%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.
In the most recent year, 2023, The smallest household size for which the bureau reported a median household income was 1-person households, with an income of $35,417. It then further increased to $94,375 for 5-person households, the largest household size for which the bureau reported a median household income.
Bates City median household income by household size
The table below displays median household incomes for various household sizes, as reported by the U.S. Census Bureau. Explore how household income varies with the size of the family unit.
| Household Size | Median Household Income |
|---|---|
| 1-person households | 35,417 |
| 2-person households | 84,583 |
| 3-person households | 0 |
| 4-person households | 186,250 |
| 5-person households | 94,375 |
| 6-person households | 0 |
| 7-or-more-person households | 0 |
According to the Census Bureau data, the median household income reaches its peak among 4-person households, reaching $186,250 .
Bates City, MO income distribution and inequality
To gain a comprehensive understanding of income distribution in Bates City, we conducted an analysis of quintiles data from the U.S. Census Bureau. While the bureau does not categorize income into subjective classes like lower-income, middle-class, or upper-class, they instead divide the population into five quintiles, ensuring that each quintile represents nearly the same number of households. This classification allows us to analyze income levels across a spectrum from the lowest to the highest income groups.
Mean household income by quintile in Bates City
The table below presents the mean household income for each of the five quintiles in Bates City , offering valuable insights into income distribution and inequality.
| Income Level | Mean Household Income |
|---|---|
| Lowest Quintile | 30,883 |
| Second Quintile | 58,606 |
| Third Quintile | 81,874 |
| Fourth Quintile | 109,810 |
| Highest Quintile | 242,436 |
| Top 5 Percent | 448,692 |
Key findings:
- Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 30,883, while the mean income for the highest quintile (20% of households with the highest income) is 242,436. This indicates that the top earners earn 8 times compared to the lowest earners.
- Top 5%: The mean household income for the wealthiest population (top 5%) is 448,692, which is 185.08% higher compared to the highest quintile, and 1452.88% higher compared to the lowest quintile.
Furthermore, as per the Census Bureau, the Gini coefficient for Bates City is 0.397. Gini coefficient is a numeric measure ranging from 0 to 1, where lower numbers indicate greater income equality (with 0 representing complete equality, where all households earn the same income) and higher values signify greater income inequality (with 1 being complete inequality where one household receives all income).
Sources: U.S. Census Bureau, American Community Survey (ACS)
With a Gini coefficient of 0.397, it is evident that income distribution in Bates City, MO exihibits characterstics of moderate equality . This also implies that the majority of households in Bates City enjoy fairly equitable access to income resources, contributing to a reasonably fair and even economic landscape.
Median household income in Bates City, MO by family type, 2023
The Census Bureau classifies households into different categories, including total households, family households, and non-family households. Our analysis of U.S. Census Bureau American Community Survey data for Bates City reveals how household income distribution varies among these categories.
Interestingly, we found that the median household income did vary between family households and non-family households. In 2023, for Bates City, there were a total of 49 family households and 13 non-family households.
For the family households, the median income (in 2023 inflation-adjusted dollars) was $84,583. For the non-family households, the median income (in 2023 inflation-adjusted dollars) was $51,250.
Bates City, MO households by income brackets: family, non-family, and total, 2023, in 2022 inflation-adjusted dollars
The table below presents a breakdown of households across various income brackets in Bates City. The data in the table offers insights into the distribution of Bates City households based on income levels.
| Income Level | All Households | % All Households | Family Households | % Family Households | Non-Family Households | % Non-Family Households |
|---|---|---|---|---|---|---|
| Total: | 62 | 100.00% | 49 | 100.00% | 13 | 100.00% |
| Less than $10,000 | - | - | - | - | - | - |
| $10,000 to $14,999 | 1 | 1.61% | 1 | 2.04% | - | - |
| $15,000 to $19,999 | 2 | 3.23% | 2 | 4.08% | - | - |
| $20,000 to $24,999 | - | - | - | - | - | - |
| $25,000 to $29,999 | 1 | 1.61% | - | - | 1 | 7.69% |
| $30,000 to $34,999 | 3 | 4.84% | 1 | 2.04% | 2 | 15.38% |
| $35,000 to $39,999 | 3 | 4.84% | - | - | 3 | 23.08% |
| $40,000 to $44,999 | 1 | 1.61% | 1 | 2.04% | - | - |
| $45,000 to $49,999 | 1 | 1.61% | 1 | 2.04% | - | - |
| $50,000 to $59,999 | 9 | 14.52% | 7 | 14.29% | 2 | 15.38% |
| $60,000 to $74,999 | 6 | 9.68% | 6 | 12.24% | - | - |
| $75,000 to $99,999 | 17 | 27.42% | 14 | 28.57% | 3 | 23.08% |
| $100,000 to $124,999 | 2 | 3.23% | 2 | 4.08% | - | - |
| $125,000 to $149,999 | 2 | 3.23% | 2 | 4.08% | - | - |
| $150,000 to $199,999 | 8 | 12.90% | 6 | 12.24% | 2 | 15.38% |
| $200,000 or more | 6 | 9.68% | 6 | 12.24% | - | - |
Key findings:
- For Family Households: In Bates City, the majority of family households, representing 28.57%, earn $75,000 to $99,999, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising 0.0%, have incomes falling Less than $10,000, representing a smaller but still significant segment of the community.
- For Non-Family Households: In Bates City, the majority of non-family households, accounting for 23.08%, have income $35,000 to $39,999, indicating that a substantial portion of non-family households falls within this income bracket. On the other hand, the minority of non-family households, comprising 0.0%, earn Less than $10,000, representing a smaller, yet notable, portion of non-family households in the community.
- For Total Households (Combining Family and Non-Family): When considering total households in Bates City, the majority, constituting 27.42%, earn $75,000 to $99,999, demonstrating that a significant portion of community households falls within this income bracket. Simultaneously, the minority of total households, representing 0.0%, have incomes Less than $10,000, signifying a smaller segment of households in the community.
Things to know
What is the Gini index for Bates City, MO?
As per the Census Bureau, the Gini coefficient for Bates City is 0.397. With this value of Gini coefficient, it is evident that income distribution in Bates City exihibits characterstics of moderate equality .
This also implies that the majority of households in Bates City enjoy fairly equitable access to income resources, contributing to a reasonably fair and even economic landscape.What is the median household income in Bates City, MO?
As per the latest data available from American Community Survey, the median household income for Bates City is $83,333 (in 2023 inflation-adjusted dollars). This income is 106.11% of the U.S. median household income of $78,538 (all incomes in 2023 inflation-adjusted dollars).
How does Bates City, MO median household income compare to the rest of the United States?
In Missouri, among cities with populations of fewer than 5,000 residents, Bates City ranks 85th out of 602 for median household income. This rank highlight its position as one of the top-earning small cities within the state of Missouri.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)
