Lake Edward Township, Minnesota median household income diversity
Based on our analysis of the distribution of Lake Edward township population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 96.07% of the total residents in Lake Edward township. Notably, the median household income for White households is $78,202.
Interestingly, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $114,997. This reveals that, while Whites may be the most numerous in Lake Edward township, Two or More Races 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 Lake Edward township, we observe that Two or More Races households report a median income of about $114,997, while White households earn around $78,202. These differences shed light on the income distribution within the township of Lake Edward township.
Lake Edward Township, Minnesota median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Lake Edward township, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the township of Lake Edward township.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Lake Edward township, the median household income for the households where the householder is White decreased by $1,996(2.49%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $80,198 in 2011 and $78,202 in 2021.
- Black or African American: As per the U.S. Census Bureau population data, in Lake Edward township, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
- 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 Lake Edward township, based on U.S. Census Bureau population data, households with Asian householders are non existent. Therefore, the median household income for the Asian population cannot be determined.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Lake Edward 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: According to U.S. Census Bureau population data for Lake Edward township, Some other race-led households are absent, rendering the median household income for the Some other race population inconclusive.
- Two or more races (multiracial): In Lake Edward township, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $114,997(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 2 race households in Lake Edward township. Households are categorized based on the self-identified race of the head of household.
Lake Edward 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 | $72,765 | $80,198 | $73,846 | $71,002 | $66,140 | $66,834 | $70,562 | $73,054 | $77,511 | $79,853 | $80,684 | $78,202 | N/A |
| Two or More Races | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $114,997 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $114,997. On the other hand, households where householder is White experienced a notable decline, with a decrease of $1,996 in median income.