Belmont, Massachusetts median household income diversity
Based on our analysis of the distribution of Belmont town population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 75% of the total residents in Belmont town. Notably, the median household income for White households is $165,739.
Interestingly, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $176,064. This reveals that, while Whites may be the most numerous in Belmont town, Asian households experience greater economic prosperity in terms of median household income.
For a better visual representation of these income disparities, take a look at the bar chart below. It illustrates the varying median household incomes across races, providing a clear comparison for each of the racial categories defined by the U.S. Census Bureau. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
As we explore median household incomes in Belmont town, we observe that Asian households report a median income of about $176,064, Two or More Races households report a median income of about $169,016 and White households earn roughly $165,739. These differences shed light on the income distribution within the town of Belmont town.
Belmont, Massachusetts median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Belmont town, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the town of Belmont town.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Belmont town, the median household income for the households where the householder is White increased by $31,566(23.53%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $134,173 in 2011 and $165,739 in 2021.
- Black or African American: In Belmont town, the median household income for Black or African American households was $84,696 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- American Indian and Alaska Native: Even though there is a population where the householder is American Indian and Alaska Native, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Asian: In Belmont town, the median household income for the households where the householder is Asian increased by $60,130(51.87%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $115,934 in 2011 and $176,064 in 2021.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Belmont town, there are no households with Native Hawaiian and Other Pacific Islander householders. Consequently, the median household income for the Native Hawaiian and Other Pacific Islander population is not available.
- Some other race: In Belmont town, the median household income for Some other race households was $309,518 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- Two or more races (multiracial): In Belmont town, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $169,016(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 3 race households in Belmont town. Households are categorized based on the self-identified race of the head of household.
Belmont town median household income by race betwen 2011 and 2021
Explore the evolution of median household incomes over the past decade across various racial categories identified by the U.S. Census Bureau. This table showcases the annual income trends, from 2011 to 2021, providing insights into the economic shifts within diverse racial communities.
| Race Of The Head Of Household | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| White | $130,604 | $134,173 | $136,793 | $141,719 | $134,713 | $140,438 | $139,844 | $139,445 | $139,661 | $149,097 | $161,936 | $165,739 | N/A |
| Black or African American | $59,874 | $84,696 | $66,708 | $87,092 | $84,026 | $76,213 | $74,302 | $75,629 | $69,332 | $69,918 | N/A | N/A | N/A |
| American Indian and Alaska Native | N/A | N/A | $107,747 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asian | $116,448 | $115,934 | $120,402 | $134,609 | $130,306 | $126,835 | $146,639 | $155,593 | $152,708 | $156,445 | $160,259 | $176,064 | N/A |
| Some Other Race | N/A | $309,518 | $309,312 | $307,665 | $308,772 | $308,776 | $188,047 | $190,496 | N/A | N/A | $151,951 | N/A | N/A |
| Two or More Races | $60,411 | N/A | $95,882 | $96,993 | $121,834 | $123,371 | $124,516 | $196,858 | $141,749 | $141,734 | $161,343 | $169,016 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $169,016. On the other hand, households where householder is Some other race experienced a notable decline, with a decrease of $309,518 in median income.