Independence Township, New Jersey median household income diversity
Based on our analysis of the distribution of Independence township population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 93.31% of the total residents in Independence township. Notably, the median household income for White households is $102,349.
Interestingly, despite the White population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $195,621. This reveals that, while Whites may be the most numerous in Independence township, Some Other Race 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 Independence township, we observe that Some Other Race households report a median income of about $195,621, Two or More Races households report a median income of about $116,799 and White households earn roughly $102,349. These differences shed light on the income distribution within the township of Independence township.
Independence Township, New Jersey median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Independence township, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the township of Independence township.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Independence township, the median household income for the households where the householder is White decreased by $11,389(10.01%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $113,738 in 2011 and $102,349 in 2021.
- Black or African American: In Independence township, the median household income for Black or African American households was $107,984 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- American Indian and Alaska Native: The U.S. Census Bureau population data for Independence township, 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 Independence township, the median household income for Asian households was $142,460 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 Independence township, 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 Independence township, there was no reported median household income for Some other race households in 2011. However, in 2021, the median household income increased to $195,621(2022 inflation-adjusted dollars), marking a significant change.
- Two or more races (multiracial): In Independence township, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $116,799(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 3 race households in Independence township. Households are categorized based on the self-identified race of the head of household.
Independence township 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 | $122,523 | $113,738 | $110,551 | $100,666 | $95,357 | $96,765 | $110,181 | $118,095 | $115,274 | $108,732 | $105,815 | $102,349 | N/A |
| Black or African American | $87,054 | $107,984 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $106,341 | $103,196 | N/A | N/A |
| Asian | $141,237 | $142,460 | $130,747 | $66,104 | $83,215 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Some Other Race | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $195,621 | N/A |
| Two or More Races | N/A | N/A | $35,142 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $120,774 | $116,799 | N/A |
Key observations: Households with Some other race householders witnessed significant growth in median household income, marking an impressive increase of $195,621. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $142,460 in median income.