Chaves County, NM median household income diversity
Based on our analysis of the distribution of Chaves County population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 74.52% of the total residents in Chaves County. Notably, the median household income for White households is $54,050.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $54,050.
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 Chaves County, we observe that White households report a median income of about $54,050, Some Other Race households report a median income of about $46,855 and Two or More Races households earn roughly $33,914. These differences shed light on the income distribution within the county of Chaves County.
Chaves County, NM median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Chaves County, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the county of Chaves County.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Chaves County, the median household income for the households where the householder is White increased by $3,757(7.47%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $50,293 in 2011 and $54,050 in 2021.
- Black or African American: In Chaves County, the median household income for Black or African American households was $26,879 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 Chaves County, the median household income for Asian households was $69,243 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- Native Hawaiian and Other Pacific Islander: Even though there is a population where the householder is Native Hawaiian and Other Pacific Islander, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Some other race: In Chaves County, the median household income for the households where the householder is Some other race increased by $1,605(3.55%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $45,250 in 2011 and $46,855 in 2021.
- Two or more races (multiracial): In Chaves County, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $33,914(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 3 race households in Chaves County. Households are categorized based on the self-identified race of the head of household.
Chaves County 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 | $51,946 | $50,293 | $50,184 | $51,723 | $53,190 | $52,596 | $52,685 | $52,052 | $52,383 | $50,298 | $53,395 | $54,050 | N/A |
| Black or African American | $39,804 | $26,879 | $39,122 | $57,565 | $30,508 | $37,483 | $39,505 | $30,610 | N/A | $16,592 | N/A | N/A | N/A |
| American Indian and Alaska Native | $28,308 | N/A | $27,258 | $28,731 | $41,146 | $44,025 | $42,015 | $41,940 | $42,581 | $47,245 | $40,368 | N/A | N/A |
| Asian | $81,198 | $69,243 | $67,242 | $70,366 | $72,640 | $72,845 | $203,196 | N/A | N/A | N/A | $48,351 | N/A | N/A |
| Some Other Race | $45,957 | $45,250 | $43,156 | $41,943 | $41,374 | $41,188 | $41,216 | $43,566 | $42,002 | $47,603 | $48,019 | $46,855 | N/A |
| Two or More Races | $44,569 | N/A | $41,726 | $47,867 | $36,866 | $32,675 | $44,235 | $42,083 | $44,352 | N/A | $42,696 | $33,914 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $33,914. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $69,243 in median income.