Lake County, FL median household income diversity
Based on our analysis of the distribution of Lake County population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 77.24% of the total residents in Lake County. Notably, the median household income for White households is $69,802.
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 $71,724. This reveals that, while Whites may be the most numerous in Lake County, 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.
In Lake County, a diversity of median household incomes is evident among households of different races. The Some Other Race households boast the highest median household income at about $71,724. Two or More Races households have a median income of approximately $70,622. White households have a median income of approximately $69,802. Asian households have a median income of approximately $64,019. Conversely, Black or African American households reveal the lowest median income at $55,420. These disparities underscore the varied income distribution within the county of Lake County.
Lake County, FL median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Lake County, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the county of Lake County.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Lake County, the median household income for the households where the householder is White increased by $16,754(31.58%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $53,048 in 2012 and $69,802 in 2022.
- Black or African American: In Lake County, the median household income for the households where the householder is Black or African American increased by $12,889(30.30%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $42,531 in 2012 and $55,420 in 2022.
- American Indian and Alaska Native: In Lake County, the median household income for American Indian and Alaska Native households was $91,391 in 2012(2022 inflation-adjusted dollars). However there is no reported data for 2022, indicating a lack of information for this specific year.
- Asian: In Lake County, the median household income for the households where the householder is Asian decreased by $36,340(36.21%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $100,359 in 2012 and $64,019 in 2022.
- 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 2012 and 2022.
- Some other race: In Lake County, the median household income for the households where the householder is Some other race increased by $38,706(117.23%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $33,018 in 2012 and $71,724 in 2022.
- Two or more races (multiracial): In Lake County, the median household income for the households where the householder is multiracial increased by $7,127(11.22%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $63,495 in 2012 and $70,622 in 2022.
- Above analysis reconfirms that there are 5 race households in Lake County. Households are categorized based on the self-identified race of the head of household.
Lake County median household income by race betwen 2012 and 2022
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 2012 to 2022, 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 | $57,326 | $59,926 | $53,048 | $57,501 | $59,902 | $62,376 | $63,131 | $61,323 | $63,976 | $69,373 | N/A | $70,986 | $69,802 |
| Black or African American | $46,491 | $50,101 | $42,531 | $40,503 | $51,648 | $59,632 | $44,010 | $48,356 | $37,564 | $47,832 | N/A | $54,802 | $55,420 |
| American Indian and Alaska Native | $55,608 | N/A | $91,391 | N/A | N/A | $23,650 | $36,914 | N/A | N/A | N/A | N/A | N/A | N/A |
| Asian | $74,252 | $69,755 | $100,359 | $124,189 | $98,783 | $137,738 | $118,647 | $82,805 | $54,025 | $86,061 | N/A | $84,826 | $64,019 |
| Native Hawaiian and Other Pacific Islander | $32,585 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Some Other Race | $54,577 | N/A | $33,018 | $46,901 | $34,138 | $52,153 | $35,063 | $69,483 | $78,439 | $66,265 | N/A | $65,498 | $71,724 |
| Two or More Races | $61,726 | N/A | $63,495 | $48,839 | $119,820 | $65,912 | $40,681 | $42,872 | $58,216 | $46,243 | N/A | $83,788 | $70,622 |
Key observations: Households with Some other race householders witnessed significant growth in median household income, marking an impressive increase of $38,706. On the other hand, households where householder is American Indian and Alaska Native experienced a notable decline, with a decrease of $91,391 in median income.