Franklinville, NC median household income diversity
Based on our analysis of the distribution of Franklinville population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 61.96% of the total residents in Franklinville. Notably, the median household income for White households is $50,957.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $50,957.
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 Franklinville, we observe that White households report a median income of about $50,957, while Black or African American households earn around $23,703. These differences shed light on the income distribution within the town of Franklinville.
Franklinville, NC median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Franklinville, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the town of Franklinville.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Franklinville, the median household income for the households where the householder is White increased by $9,356(22.49%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $41,601 in 2011 and $50,957 in 2021.
- Black or African American: In Franklinville, the median household income for the households where the householder is Black or African American decreased by $437(1.81%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $24,140 in 2011 and $23,703 in 2021.
- American Indian and Alaska Native: The U.S. Census Bureau population data for Franklinville, indicates a lack of households led by American Indian and Alaska Native individuals. As a result, the median household income for the American Indian and Alaska Native population is not available.
- Asian: In Franklinville, 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 Franklinville, 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 Franklinville. Households are categorized based on the self-identified race of the head of household.
Franklinville 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 | $44,358 | $41,601 | $40,932 | $38,605 | $38,131 | $35,436 | $38,145 | $37,472 | $42,196 | $42,973 | $44,441 | $50,957 | N/A |
| Black or African American | $37,949 | $24,140 | $26,897 | $27,600 | $21,436 | N/A | $48,923 | $49,901 | $33,806 | $32,294 | $23,489 | $23,703 | N/A |
| Some Other Race | $49,586 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Two or More Races | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $73,729 | N/A | N/A | N/A | N/A | N/A |
Key observations: Households with White householders witnessed significant growth in median household income, marking an impressive increase of $9,356. On the other hand, households where householder is Black or African American experienced a notable decline, with a decrease of $437 in median income.