Median Household Income in Claremont, SD (2010-2021, in 2022 inflation-adjusted dollars)
Below, you will find a table illustrating the median household income in Claremont, 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 | 48,068 | - | - |
2011 | 38,682 | -9,386 | -19.53% |
2012 | 41,306 | 2,624 | 6.78% |
2013 | 46,787 | 5,481 | 13.27% |
2014 | 52,743 | 5,956 | 12.73% |
2015 | 60,395 | 7,652 | 14.51% |
2016 | 56,567 | -3,828 | -6.34% |
2017 | 54,641 | -1,926 | -3.40% |
2018 | 45,301 | -9,340 | -17.09% |
2019 | 53,105 | 7,804 | 17.23% |
2020 | 46,742 | -6,363 | -11.98% |
2021 | 56,748 | 10,006 | 21.41% |
TABLE OF CONTENTS
Claremont, SD median household income trends: 2010 to 2021
From 2010 to 2021, the median household income for Claremont increased by $8,680 (18.06%), 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.
![Claremont, SD median household income trend (2010-2021, in 2022 inflation-adjusted dollars) The line chart shows Claremont, SD 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.](https://i.neilsberg.com/ch/claremont-sd-median-household-income-trend.jpeg)
The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 10,006 (from $46,742 to $56,748). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 9,386 (from $48,068 to $38,682).
In South Dakota, among cities with populations of fewer than 5,000 residents, Claremont ranks 123rd out of 223 for median household income. This rank indicates that it falls within the middle-income range of small cities within the state of South Dakota.
Median household income in Claremont, SD by household size
To gain deeper insights into the median household income for Claremont, 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, only 1-person households were found in Claremont. The coefficient of variation (CV) is 39.62%. 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 $41,885. Additionally, the Census Bureau did not report a median household income for larger household sizes.
![Claremont, SD median household income, by household size (in 2022 inflation-adjusted dollars) Bar chart showing Claremont, SD 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.](https://i.neilsberg.com/ch/claremont-sd-median-household-income-by-household-size.jpeg)
Claremont 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 | 41,885 |
2-person households | 0 |
3-person households | 0 |
4-person households | 0 |
5-person households | 0 |
6-person households | 0 |
7-or-more-person households | 0 |
According to the Census Bureau data, the median household income reaches its peak among 1-person households, reaching $41,885 .
Things to know
What is the Gini index for Claremont, SD?
As per the Census Bureau, the Gini coefficient for Claremont is 0.409. With this value of Gini coefficient, it is evident that income distribution in Claremont exihibits characterstics of moderate inequality .
This level of Gini coefficient suggests noticeable variations in income distribution across households, with certain segments of the population holding a larger share of income compared to others in Claremont.
It also implies that efforts may be needed to enhance economic fairness and reduce the gap between income groups in Claremont
What is the median household income in Claremont, SD?
As per the latest data available from American Community Survey, the median household income for Claremont is $56,748 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 76.06% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
How does Claremont, SD median household income compare to the rest of the United States?
In South Dakota, among cities with populations of fewer than 5,000 residents, Claremont ranks 123rd out of 223 for median household income. This rank indicates that it falls within the middle-income range of small cities within the state of South Dakota.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)