Homewood, IL Median Household Income By Race

Homewood, IL median household income diversity

Based on our analysis of the distribution of Homewood population by race & ethnicity, the population is predominantly Black or African American. This particular racial category constitutes the majority, accounting for 47.78% of the total residents in Homewood. Notably, the median household income for Black or African American households is $82,181.

Interestingly, despite the Black or African American population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $160,551. This reveals that, while Black or African Americans may be the most numerous in Homewood, Asian 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 Homewood, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $160,551. White households have a median income of approximately $92,328. Some Other Race households have a median income of approximately $84,446. Black or African American households have a median income of approximately $82,181. Conversely, Two or More Races households reveal the lowest median income at $69,037. These disparities underscore the varied income distribution within the village of Homewood.

Homewood, IL median household income trends across races

A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Homewood, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the village of Homewood.

Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:

• White: In Homewood, the median household income for the households where the householder is White increased by $591(0.64%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $91,737 in 2011 and $92,328 in 2021.
• Black or African American: In Homewood, the median household income for the households where the householder is Black or African American decreased by $8,369(9.24%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $90,550 in 2011 and $82,181 in 2021.
• American Indian and Alaska Native: The U.S. Census Bureau population data for Homewood, 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 Homewood, the median household income for the households where the householder is Asian increased by $64,481(67.12%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $96,070 in 2011 and $160,551 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 Homewood, the median household income for the households where the householder is Some other race increased by $12,120(16.76%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $72,326 in 2011 and $84,446 in 2021.
• Two or more races (multiracial): In Homewood, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $69,037(2022 inflation-adjusted dollars), marking a significant change.
• Above analysis reconfirms that there are 5 race households in Homewood. Households are categorized based on the self-identified race of the head of household.

Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $69,037. On the other hand, households where householder is Black or African American experienced a notable decline, with a decrease of $8,369 in median income.

Things to know

Which racial group has the highest median household income according to the Census Bureau in Homewood, IL?

Among the racial categories identified by the U.S. Census Bureau, and the American Community Survey 2017-2021 5-Year Estimates, households with Asian householders in Homewood have the highest median household income at $160,551.

How does the median household income vary by race in Homewood, IL?

In Homewood, the median household income In Homewood, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $160,551. White households have a median income of approximately $92,328. Some Other Race households have a median income of approximately $84,446. Black or African American households have a median income of approximately $82,181. Conversely, Two or More Races households reveal the lowest median income at $69,037. These disparities underscore the varied income distribution within the village of Homewood..

Which racial group has the lowest median household income according to the Census Bureau in Homewood, IL?

Of the racial categories outlined by the U.S. Census Bureau and the American Community Survey 2017-2021 5-Year Estimates, households headed by individuals identifying as Two or More Races in Homewood exhibit the lowest median household income at $69,037 among the identified racial categories.

What is the median household income for White households in Homewood, IL?

In Homewood, the median household income for the households where the householder is White increased by $591(0.64%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $91,737 in 2011 and $92,328 in 2021.

What is the median household income for Black or African American households in Homewood, IL?

In Homewood, the median household income for the households where the householder is Black or African American decreased by $8,369(9.24%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $90,550 in 2011 and $82,181 in 2021.

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