Franklin, LA median household income diversity
Based on our analysis of the distribution of Franklin population by race & ethnicity, the population is predominantly Black or African American. This particular racial category constitutes the majority, accounting for 57.99% of the total residents in Franklin. Notably, the median household income for Black or African American households is $31,030.
Interestingly, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $49,992. This reveals that, while Black or African Americans may be the most numerous in Franklin, White 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 Franklin, we observe that White households report a median income of about $49,992, while Black or African American households earn around $31,030. These differences shed light on the income distribution within the city of Franklin.
Franklin, LA median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Franklin, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Franklin.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Franklin, the median household income for the households where the householder is White decreased by $6,616(11.69%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $56,608 in 2011 and $49,992 in 2021.
- Black or African American: In Franklin, the median household income for the households where the householder is Black or African American increased by $2,195(7.61%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $28,835 in 2011 and $31,030 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 Franklin, based on U.S. Census Bureau population data, households with Asian householders are non existent. Therefore, the median household income for the Asian population cannot be determined.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Franklin, 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: Even though there is a population where the householder is Some other race, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Two or more races (multiracial): Even though there is a population where the householder is multiracial, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Above analysis reconfirms that there are 2 race households in Franklin. Households are categorized based on the self-identified race of the head of household.
Franklin 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 | $71,175 | $56,608 | $54,160 | $52,584 | $46,951 | $48,545 | $47,927 | $48,875 | $47,760 | $49,715 | $54,418 | $49,992 | N/A |
| Black or African American | $30,116 | $28,835 | $27,353 | $29,259 | $27,147 | $27,190 | $33,709 | $37,966 | $35,680 | $41,947 | $37,423 | $31,030 | N/A |
| American Indian and Alaska Native | $25,299 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asian | $304,070 | $304,362 | $149,631 | $148,565 | $77,176 | N/A | $74,149 | N/A | N/A | N/A | N/A | N/A | N/A |
| Some Other Race | N/A | N/A | $70,950 | $86,135 | $85,029 | N/A | N/A | $252,410 | N/A | N/A | N/A | N/A | N/A |
| Two or More Races | $25,948 | N/A | $87,495 | $59,404 | $15,349 | N/A | $13,855 | N/A | N/A | N/A | $21,070 | N/A | N/A |
Key observations: Households with Black or African American householders witnessed significant growth in median household income, marking an impressive increase of $2,195. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $304,362 in median income.