Isle of Wight County, VA median household income diversity
Based on our analysis of the distribution of Isle of Wight County population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 71.17% of the total residents in Isle of Wight County. Notably, the median household income for White households is $107,431.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $107,431.
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 Isle of Wight County, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $107,431. Two or More Races households have a median income of approximately $82,826. Black or African American households have a median income of approximately $47,774. Conversely, Asian households reveal the lowest median income at $32,354. These disparities underscore the varied income distribution within the county of Isle of Wight County.
Isle of Wight County, VA median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Isle of Wight County, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the county of Isle of Wight County.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Isle of Wight County, the median household income for the households where the householder is White increased by $11,832(12.38%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $95,599 in 2011 and $107,431 in 2021.
- Black or African American: In Isle of Wight County, the median household income for the households where the householder is Black or African American decreased by $4,584(8.76%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $52,358 in 2011 and $47,774 in 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 Isle of Wight County, the median household income for the households where the householder is Asian decreased by $114,135(77.91%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $146,489 in 2011 and $32,354 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: 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): In Isle of Wight County, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $82,826(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 4 race households in Isle of Wight County. Households are categorized based on the self-identified race of the head of household.
Isle of Wight 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 | $95,638 | $95,599 | $93,962 | $90,370 | $89,914 | $90,118 | $92,227 | $91,962 | $97,522 | $98,808 | $102,447 | $107,431 | N/A |
| Black or African American | $51,449 | $52,358 | $57,290 | $55,658 | $54,838 | $52,771 | $58,189 | $54,659 | $50,862 | $51,414 | $49,488 | $47,774 | N/A |
| American Indian and Alaska Native | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $71,020 | N/A | N/A | N/A | N/A |
| Asian | $146,383 | $146,489 | $146,491 | $147,395 | $146,595 | N/A | N/A | $46,816 | $45,301 | $47,095 | N/A | $32,354 | N/A |
| Two or More Races | $92,504 | N/A | $91,177 | $73,178 | $59,817 | N/A | N/A | $62,839 | $84,026 | $127,739 | $80,511 | $82,826 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $82,826. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $114,135 in median income.