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Home township, Newaygo County, Michigan Median Household Income: Trends, Analysis, and Key Findings

The median household income in Home township was $48,641 in 2021, which marked an an increase of 6,856(16.41%) from $41,785 in 2020. This income is 65.20% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
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By Neilsberg Research
Updated Jan 11, 2024

Median Household Income in Home township, Newaygo County, Michigan (2010-2021, in 2022 inflation-adjusted dollars)

Below, you will find a table illustrating the median household income in Home township, 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 44,864 - -
2011 44,131 -733 -1.63%
2012 46,429 2,298 5.21%
2013 40,611 -5,818 -12.53%
2014 38,782 -1,829 -4.50%
2015 46,458 7,676 19.79%
2016 47,394 936 2.01%
2017 66,560 19,166 40.44%
2018 62,837 -3,723 -5.59%
2019 61,238 -1,599 -2.54%
2020 41,785 -19,453 -31.77%
2021 48,641 6,856 16.41%
Need Income insights or broader demographics data for Home township?
We can help you with custom data for Home township, other cities in Newaygo County, any place in Michigan, or across the USA!
Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time ✎ Custom Dataset: Home township Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

TABLE OF CONTENTS

Home township, Newaygo County, Michigan median household income trends: 2010 to 2021

From 2010 to 2021, the median household income for Home township increased by $3,777 (8.42%), 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 5 years and declined for 6 years.

The line chart shows Home township, Newaygo County, Michigan 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.
Home township, Newaygo County, Michigan median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. We observed that the median household income experienced growth year by year for 5 years and declined for 6 years. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 19,166 (from $47,394 to $66,560). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 19,453 (from $61,238 to $41,785).

In Michigan, among cities with populations of fewer than 5,000 residents, Home township ranks 931st out of 1133 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Michigan.

Median household income in Home township, Newaygo County, Michigan by household size

To gain deeper insights into the median household income for Home township, 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, Home township did not include 5, 6, or 7-person households. Across the different household sizes in Home township the mean income is $65,131, and the standard deviation is $49,337. The coefficient of variation (CV) is 75.75%. 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 $2,701. It then further increased to $82,420 for 4-person households, the largest household size for which the bureau reported a median household income.

Bar chart showing Home township, Newaygo County, Michigan 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.
Home township, Newaygo County, Michigan median household income, by household size (in 2022 inflation-adjusted dollars). Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Home township 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 2,701
2-person households 55,397
3-person households 120,006
4-person households 82,420
5-person households 0
6-person households 0
7-or-more-person households 0
Exploring Home township's Diversity? Request Customized Data Now!

According to the Census Bureau data, the median household income reaches its peak among 3-person households, reaching $120,006 .

Median household income in Home township, Newaygo County, Michigan by family type, 2021

The Census Bureau classifies households into different categories, including total households, family households, and non-family households. Our analysis of U.S. Census Bureau American Community Survey data for Home township reveals how household income distribution varies among these categories.

Interestingly, we found that the median household income NA vary between family households and non-family households. In 2021, for Home township, NA.

NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $34,859.

Home township, Newaygo County, Michigan households by income brackets: family, non-family, and total, 2021, in 2022 inflation-adjusted dollars

The table below presents a breakdown of households across various income brackets in Home township. The data in the table offers insights into the distribution of Home township households based on income levels.

Income Level All Households % All Households Family Households % Family Households Non-Family Households % Non-Family Households
Total: 120 100.00% 81 100.00% 39 100.00%
Less than $10,000 24 20.00% 2 2.47% 22 56.41%
$10,000 to $14,999 4 3.33% - - 4 10.26%
$15,000 to $19,999 3 2.50% 2 2.47% 1 2.56%
$20,000 to $24,999 5 4.17% 3 3.70% 2 5.13%
$25,000 to $29,999 5 4.17% 1 1.23% 4 10.26%
$30,000 to $34,999 4 3.33% 2 2.47% 2 5.13%
$35,000 to $39,999 12 10.00% 12 14.81% - -
$40,000 to $44,999 5 4.17% 4 4.94% 1 2.56%
$45,000 to $49,999 5 4.17% 5 6.17% - -
$50,000 to $59,999 7 5.83% 5 6.17% 2 5.13%
$60,000 to $74,999 6 5.00% 6 7.41% - -
$75,000 to $99,999 7 5.83% 7 8.64% - -
$100,000 to $124,999 15 12.50% 15 18.52% - -
$125,000 to $149,999 3 2.50% 2 2.47% 1 2.56%
$150,000 to $199,999 10 8.33% 10 12.35% - -
$200,000 or more 5 4.17% 5 6.17% - -
Exploring Home township's Diversity? Request Customized Data Now!

Key findings:

  • For Family Households: In Home township, the majority of family households, representing NA%, earn NA, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising NA%, have incomes falling NA, representing a smaller but still significant segment of the community.
  • For Non-Family Households: In Home township, the majority of non-family households, accounting for NA%, have income NA, indicating that a substantial portion of non-family households falls within this income bracket. On the other hand, the minority of non-family households, comprising NA%, earn NA, representing a smaller, yet notable, portion of non-family households in the community.
  • For Total Households (Combining Family and Non-Family): When considering total households in Home township, the majority, constituting NA%, earn NA, demonstrating that a significant portion of community households falls within this income bracket. Simultaneously, the minority of total households, representing NA%, have incomes NA, signifying a smaller segment of households in the community.

Things to know

What is the Gini index for Home township, Newaygo County, Michigan?

As per the Census Bureau, the Gini coefficient for Home township is 0.6862. With this value of Gini coefficient, it is evident that income distribution in Home township exihibits characterstics of high inequality .

This level of Gini coefficient suggests significant variations in income distribution across households, with certain segments of the population holding a notably larger share of income compared to others in Home township.

It also implies that efforts may be needed to enhance economic fairness and address the considerable gap between income groups in Home township

What is the median household income in Home township, Newaygo County, Michigan?

As per the latest data available from American Community Survey, the median household income for Home township is $48,641 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 65.20% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).

How does Home township, Newaygo County, Michigan median household income compare to the rest of the United States?

In Michigan, among cities with populations of fewer than 5,000 residents, Home township ranks 931st out of 1133 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Michigan.

References

Datasets

Explore datasets by year of publication.
2023
Median Household Income Variation by Family Size in Home township, Newaygo County, Michigan: Comparative analysis across 7 household sizes
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents median household incomes for various household sizes in Home township, Newaygo County, Michigan, as reported by the U.S. Census Bureau. The dataset highlights the variation in median household income with the size of the family unit, offering valuable insights into economic trends and disparities within different household sizes, aiding in data analysis and decision-making.

Key observations

  • Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, Home township did not include 5, 6, or 7-person households. Across the different household sizes in Home township the mean income is $65,131, and the standard deviation is $49,337. The coefficient of variation (CV) is 75.75%. 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 $2,701. It then further increased to $82,420 for 4-person households, the largest household size for which the bureau reported a median household income.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Household Sizes:

  • 1-person households
  • 2-person households
  • 3-person households
  • 4-person households
  • 5-person households
  • 6-person households
  • 7-or-more-person households

Variables / Data Columns

  • Household Size: This column showcases 7 household sizes ranging from 1-person households to 7-or-more-person households (As mentioned above).
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific household size.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Home township median household income. You can refer the same here

Home township, Newaygo County, Michigan households by income brackets: family, non-family, and total, in 2022 inflation-adjusted dollars
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents a breakdown of households across various income brackets in Home township, Newaygo County, Michigan, as reported by the U.S. Census Bureau. The Census Bureau classifies households into different categories, including total households, family households, and non-family households. Our analysis of U.S. Census Bureau American Community Survey data for Home township, Newaygo County, Michigan reveals how household income distribution varies among these categories. The dataset highlights the variation in number of households with income, offering valuable insights into the distribution of Home township households based on income levels.

Key observations

  • For Family Households: In Home township, the majority of family households, representing NA%, earn NA, showcasing a substantial share of the community families falling within this income bracket. Conversely, the minority of family households, comprising NA%, have incomes falling NA, representing a smaller but still significant segment of the community.
  • For Non-Family Households: In Home township, the majority of non-family households, accounting for NA%, have income NA, indicating that a substantial portion of non-family households falls within this income bracket. On the other hand, the minority of non-family households, comprising NA%, earn NA, representing a smaller, yet notable, portion of non-family households in the community.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Income Levels:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Income Level: The income level represents the income brackets ranging from Less than $10,000 to $200,000 or more in Home township, Newaygo County, Michigan (As mentioned above).
  • All Households: Count of households for the specified income level
  • % All Households: Percentage of households at the specified income level relative to the total households in Home township, Newaygo County, Michigan
  • Family Households: Count of family households for the specified income level
  • % Family Households: Percentage of family households at the specified income level relative to the total family households in Home township, Newaygo County, Michigan
  • Non-Family Households: Count of non-family households for the specified income level
  • % Non-Family Households: Percentage of non-family households at the specified income level relative to the total non-family households in Home township, Newaygo County, Michigan

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Home township median household income. You can refer the same here

Home township, Newaygo County, Michigan Median Household Income Trends (2010-2021, in 2022 inflation-adjusted dollars)
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset illustrates the median household income in Home township, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Home township increased by $3,777 (8.42%), 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 5 years and declined for 6 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

  • 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

  • Year: This column presents the data year from 2010 to 2021
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
  • YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
  • YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Home township median household income. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore related topics

Home township, Newaygo County, Michigan Income Home township, Newaygo County, Michigan Demographics

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Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.
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Collection 5 Resources