Download
Share
Contents
Save
Collection 5 Resources

Canastota, NY Median Household Income: Trends, Analysis, and Key Findings

The median household income in Canastota was $65,626 in 2021, which marked an a decrease of 1,764(2.62%) from $67,390 in 2020. This income is 87.96% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Neilsberg Research Avatar
By Neilsberg Research
Updated Jan 11, 2024

Median Household Income in Canastota, NY (2010-2021, in 2022 inflation-adjusted dollars)

Below, you will find a table illustrating the median household income in Canastota, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.

Year Median Household Income YOY Change($) YOY Change(%)
2010 56,548 - -
2011 61,702 5,154 9.11%
2012 56,920 -4,782 -7.75%
2013 56,534 -386 -0.68%
2014 59,405 2,871 5.08%
2015 58,761 -644 -1.08%
2016 62,232 3,471 5.91%
2017 68,347 6,115 9.83%
2018 69,726 1,379 2.02%
2019 64,947 -4,779 -6.85%
2020 67,390 2,443 3.76%
2021 65,626 -1,764 -2.62%
Need Income insights or broader demographics data for Canastota?
We can help you with custom data for Canastota, other cities in Madison County, any place in New York, or across the USA!
Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time ✎ Custom Dataset: Canastota Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

TABLE OF CONTENTS

Canastota, NY median household income trends: 2010 to 2021

From 2010 to 2021, the median household income for Canastota increased by $9,078 (16.05%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 6 years and declined for 5 years.

The line chart shows Canastota, NY median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Canastota, NY median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. We observed that the median household income experienced growth year by year for 6 years and declined for 5 years. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 6,115 (from $62,232 to $68,347). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 4,782 (from $61,702 to $56,920).

In New York, among cities with populations of fewer than 5,000 residents, Canastota ranks 494th out of 899 for median household income. This rank indicates that it falls within the middle-income range of small cities within the state of New York.

Median household income in Canastota, NY by household size

To gain deeper insights into the median household income for Canastota, 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, Canastota did not include 5, 6, or 7-person households. Across the different household sizes in Canastota the mean income is $66,725, and the standard deviation is $31,814. The coefficient of variation (CV) is 47.68%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.

In the most recent year, 2021, The smallest household size for which the bureau reported a median household income was 1-person households, with an income of $26,302. It then further increased to $104,088 for 4-person households, the largest household size for which the bureau reported a median household income.

Bar chart showing Canastota, NY median household income for different household sizes in 2021. The chart illustrates income trends for 1-person to 7-or-more person households, with values adjusted for inflation. It provides insights into income disparities and variations across household sizes, aiding in data analysis and decision-making.
Canastota, NY median household income, by household size (in 2022 inflation-adjusted dollars). Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Canastota 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 26,302
2-person households 69,178
3-person households 67,332
4-person households 104,088
5-person households 0
6-person households 0
7-or-more-person households 0
Exploring Canastota's Diversity? Request Customized Data Now!

According to the Census Bureau data, the median household income reaches its peak among 4-person households, reaching $104,088 .

Median household income in Canastota, NY by family type, 2021

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 Canastota reveals how household income distribution varies among these categories.

Interestingly, we found that the median household income NA vary between family households and non-family households. In 2021, for Canastota, NA.

NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $48,998.

Canastota, NY households by income brackets: family, non-family, and total, 2021, in 2022 inflation-adjusted dollars

The table below presents a breakdown of households across various income brackets in Canastota. The data in the table offers insights into the distribution of Canastota households based on income levels.

Income Level All Households % All Households Family Households % Family Households Non-Family Households % Non-Family Households
Total: 1,798 100.00% 1,062 100.00% 736 100.00%
Less than $10,000 46 2.56% 21 1.98% 25 3.40%
$10,000 to $14,999 108 6.01% 33 3.11% 75 10.19%
$15,000 to $19,999 140 7.79% 38 3.58% 102 13.86%
$20,000 to $24,999 119 6.62% 36 3.39% 83 11.28%
$25,000 to $29,999 92 5.12% 19 1.79% 73 9.92%
$30,000 to $34,999 53 2.95% 11 1.04% 42 5.71%
$35,000 to $39,999 72 4.00% 26 2.45% 46 6.25%
$40,000 to $44,999 163 9.07% 105 9.89% 58 7.88%
$45,000 to $49,999 14 0.78% - - 14 1.90%
$50,000 to $59,999 110 6.12% 82 7.72% 28 3.80%
$60,000 to $74,999 346 19.24% 242 22.79% 104 14.13%
$75,000 to $99,999 233 12.96% 174 16.38% 59 8.02%
$100,000 to $124,999 108 6.01% 81 7.63% 27 3.67%
$125,000 to $149,999 53 2.95% 53 4.99% - -
$150,000 to $199,999 128 7.12% 128 12.05% - -
$200,000 or more 13 0.72% 13 1.22% - -
Exploring Canastota's Diversity? Request Customized Data Now!

Key findings:

  • For Family Households: In Canastota, the majority of family households, representing NA%, earn NA, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising NA%, have incomes falling NA, representing a smaller but still significant segment of the community.
  • For Non-Family Households: In Canastota, the majority of non-family households, accounting for NA%, have income NA, 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 NA%, earn NA, 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 Canastota, the majority, constituting NA%, earn NA, demonstrating that a significant portion of community households falls within this income bracket. Simultaneously, the minority of total households, representing NA%, have incomes NA, signifying a smaller segment of households in the community.

Things to know

What is the Gini index for Canastota, NY?

As per the Census Bureau, the Gini coefficient for Canastota is 0.3788. With this value of Gini coefficient, it is evident that income distribution in Canastota exihibits characterstics of moderate equality .

This also implies that the majority of households in Canastota enjoy fairly equitable access to income resources, contributing to a reasonably fair and even economic landscape.

What is the median household income in Canastota, NY?

As per the latest data available from American Community Survey, the median household income for Canastota is $65,626 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 87.96% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).

How does Canastota, NY median household income compare to the rest of the United States?

In New York, among cities with populations of fewer than 5,000 residents, Canastota ranks 494th out of 899 for median household income. This rank indicates that it falls within the middle-income range of small cities within the state of New York.

References

Datasets

Explore datasets by year of publication.
2023
Median Household Income Variation by Family Size in Canastota, NY: Comparative analysis across 7 household sizes
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents median household incomes for various household sizes in Canastota, NY, as reported by the U.S. Census Bureau. The dataset highlights the variation in median household income with the size of the family unit, offering valuable insights into economic trends and disparities within different household sizes, aiding in data analysis and decision-making.

Key observations

  • Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, Canastota did not include 5, 6, or 7-person households. Across the different household sizes in Canastota the mean income is $66,725, and the standard deviation is $31,814. The coefficient of variation (CV) is 47.68%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.
  • In the most recent year, 2021, The smallest household size for which the bureau reported a median household income was 1-person households, with an income of $26,302. It then further increased to $104,088 for 4-person households, the largest household size for which the bureau reported a median household income.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Household Sizes:

  • 1-person households
  • 2-person households
  • 3-person households
  • 4-person households
  • 5-person households
  • 6-person households
  • 7-or-more-person households

Variables / Data Columns

  • Household Size: This column showcases 7 household sizes ranging from 1-person households to 7-or-more-person households (As mentioned above).
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific household size.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Canastota median household income. You can refer the same here

Canastota, NY Median Household Income Trends (2010-2021, in 2022 inflation-adjusted dollars)
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset illustrates the median household income in Canastota, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Canastota increased by $9,078 (16.05%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 6 years and declined for 5 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

  • 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

  • Year: This column presents the data year from 2010 to 2021
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
  • YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
  • YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Canastota median household income. You can refer the same here

Canastota, NY households by income brackets: family, non-family, and total, in 2022 inflation-adjusted dollars
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents a breakdown of households across various income brackets in Canastota, NY, as reported by the U.S. Census Bureau. 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 Canastota, NY reveals how household income distribution varies among these categories. The dataset highlights the variation in number of households with income, offering valuable insights into the distribution of Canastota households based on income levels.

Key observations

  • For Family Households: In Canastota, the majority of family households, representing NA%, earn NA, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising NA%, have incomes falling NA, representing a smaller but still significant segment of the community.
  • For Non-Family Households: In Canastota, the majority of non-family households, accounting for NA%, have income NA, 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 NA%, earn NA, representing a smaller, yet notable, portion of non-family households in the community.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Income Levels:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Income Level: The income level represents the income brackets ranging from Less than $10,000 to $200,000 or more in Canastota, NY (As mentioned above).
  • All Households: Count of households for the specified income level
  • % All Households: Percentage of households at the specified income level relative to the total households in Canastota, NY
  • Family Households: Count of family households for the specified income level
  • % Family Households: Percentage of family households at the specified income level relative to the total family households in Canastota, NY
  • Non-Family Households: Count of non-family households for the specified income level
  • % Non-Family Households: Percentage of non-family households at the specified income level relative to the total non-family households in Canastota, NY

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Canastota median household income. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore related topics

Canastota, NY Income Canastota, NY Demographics

Explore more

Median household income of places that contain Canastota (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)
Insights for Canastota, by topic

About the author

Neilsberg Research Avatar
Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.
Read more from Neilsberg Research ➔

Share

This article is for informational purposes only and is not intended to be legal or tax advice. We recommend that you consult with a qualified professional such as a lawyer or accountant before making a decision. Many of the products and services featured here are from our affiliate partners. We may receive commissions on purchases made from our chosen links. Read advertiser disclosure.
Collection 5 Resources