Hancock County, IA median household income diversity
Based on our analysis of the distribution of Hancock County population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 95.50% of the total residents in Hancock County. Notably, the median household income for White households is $71,139.
Interestingly, despite the White 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 $93,229. This reveals that, while Whites may be the most numerous in Hancock County, 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).
As we explore median household incomes in Hancock County, we observe that Two or More Races households report a median income of about $93,229, White households report a median income of about $71,139 and Some Other Race households earn roughly $37,967. These differences shed light on the income distribution within the county of Hancock County.
Hancock County, IA median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Hancock County, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the county of Hancock County.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Hancock County, the median household income for the households where the householder is White increased by $6,665(10.34%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $64,474 in 2011 and $71,139 in 2021.
- Black or African American: Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 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 Hancock County, the median household income for Asian households was $45,765 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: According to the U.S. Census Bureau population data for Hancock County, 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: In Hancock County, the median household income for the households where the householder is Some other race increased by $28,160(287.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $9,807 in 2011 and $37,967 in 2021.
- Two or more races (multiracial): In Hancock County, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $93,229(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 3 race households in Hancock County. Households are categorized based on the self-identified race of the head of household.
Hancock 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 | $63,764 | $64,474 | $62,306 | $63,264 | $64,615 | $65,892 | $67,177 | $69,602 | $71,924 | $71,535 | $71,446 | $71,139 | N/A |
| Black or African American | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $7,723 | N/A | N/A | N/A |
| American Indian and Alaska Native | $87,282 | 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 | $29,877 | $45,765 | $28,017 | N/A | N/A | N/A | N/A | N/A | $51,439 | $49,209 | N/A | N/A | N/A |
| Some Other Race | $5,925 | $9,807 | $36,663 | $35,288 | $5,915 | N/A | $175,052 | $41,168 | $43,840 | $42,238 | $41,885 | $37,967 | N/A |
| Two or More Races | N/A | N/A | $84,052 | N/A | $96,844 | $96,787 | $96,623 | N/A | N/A | $98,747 | N/A | $93,229 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $93,229. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $45,765 in median income.