Florence, SC median household income diversity
Based on our analysis of the distribution of Florence population by race & ethnicity, the population is predominantly Black or African American. This particular racial category constitutes the majority, accounting for 47.47% of the total residents in Florence. Notably, the median household income for Black or African American households is $34,820.
Interestingly, despite the Black or African American population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $105,791. This reveals that, while Black or African Americans may be the most numerous in Florence, Two or More Races 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).
In Florence, a diversity of median household incomes is evident among households of different races. The Two or More Races households boast the highest median household income at about $105,791. Asian households have a median income of approximately $76,807. White households have a median income of approximately $71,040. Conversely, Black or African American households reveal the lowest median income at $34,820. These disparities underscore the varied income distribution within the city of Florence.
Florence, SC median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Florence, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Florence.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Florence, the median household income for the households where the householder is White decreased by $4,533(6%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $75,573 in 2011 and $71,040 in 2021.
- Black or African American: In Florence, the median household income for the households where the householder is Black or African American increased by $75(0.22%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $34,745 in 2011 and $34,820 in 2021.
- 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 Florence, the median household income for the households where the householder is Asian decreased by $16,993(18.12%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $93,800 in 2011 and $76,807 in 2021.
- 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 Florence, the median household income for Some other race households was $42,660 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 Florence, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $105,791(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 4 race households in Florence. Households are categorized based on the self-identified race of the head of household.
Florence 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 | $77,800 | $75,573 | $73,460 | $73,082 | $74,284 | $73,221 | $79,507 | $78,100 | $77,108 | $75,363 | $71,438 | $71,040 | N/A |
| Black or African American | $35,872 | $34,745 | $34,619 | $31,589 | $32,723 | $33,445 | $35,382 | $34,712 | $35,200 | $35,269 | $39,827 | $34,820 | N/A |
| American Indian and Alaska Native | N/A | N/A | N/A | N/A | $164,645 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asian | $95,099 | $93,800 | $37,749 | $67,723 | $65,587 | $67,215 | $104,257 | $87,457 | $80,373 | $73,882 | $89,392 | $76,807 | N/A |
| Some Other Race | $41,065 | $42,660 | $22,236 | N/A | N/A | N/A | N/A | N/A | $30,883 | $30,086 | N/A | N/A | N/A |
| Two or More Races | $30,639 | N/A | $18,323 | N/A | $85,320 | $95,496 | N/A | N/A | N/A | N/A | N/A | $105,791 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $105,791. On the other hand, households where householder is Some other race experienced a notable decline, with a decrease of $42,660 in median income.