Lake Placid, FL median household income diversity
Based on our analysis of the distribution of Lake Placid population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 77.31% of the total residents in Lake Placid. Notably, the median household income for White households is $48,844.
Interestingly, despite the White population being the most populous, it is worth noting that American Indian and Alaska Native households actually reports the highest median household income, with a median income of $51,967. This reveals that, while Whites may be the most numerous in Lake Placid, American Indian and Alaska Native 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 Lake Placid, a diversity of median household incomes is evident among households of different races. The American Indian and Alaska Native households boast the highest median household income at about $51,967. White households have a median income of approximately $48,844. Black or African American households have a median income of approximately $44,684. Two or More Races households have a median income of approximately $36,481. Conversely, Some Other Race households reveal the lowest median income at $2,701. These disparities underscore the varied income distribution within the town of Lake Placid.
Lake Placid, FL median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Lake Placid, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the town of Lake Placid.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Lake Placid, the median household income for the households where the householder is White increased by $7,471(18.06%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $41,373 in 2011 and $48,844 in 2021.
- Black or African American: In Lake Placid, the median household income for the households where the householder is Black or African American increased by $2,596(6.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $42,088 in 2011 and $44,684 in 2021.
- American Indian and Alaska Native: In Lake Placid, there was no reported median household income for American Indian and Alaska Native households in 2011. However, in 2021, the median household income increased to $51,967(2022 inflation-adjusted dollars), marking a significant change.
- Asian: Even though there is a population where the householder is Asian, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Lake Placid, 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 Lake Placid, the median household income for the households where the householder is Some other race decreased by $41,281(93.86%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $43,982 in 2011 and $2,701 in 2021.
- Two or more races (multiracial): In Lake Placid, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $36,481(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 5 race households in Lake Placid. Households are categorized based on the self-identified race of the head of household.
Lake Placid 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 | $41,364 | $41,373 | $49,348 | $40,130 | $37,496 | $33,484 | $31,857 | $35,846 | $43,277 | $46,487 | $43,252 | $48,844 | N/A |
| Black or African American | $40,057 | $42,088 | $30,552 | $24,603 | $22,083 | $10,897 | $3,056 | $2,993 | N/A | N/A | N/A | $44,684 | N/A |
| American Indian and Alaska Native | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $51,967 | N/A |
| Some Other Race | $36,185 | $43,982 | $42,312 | $41,531 | $41,049 | $24,022 | N/A | N/A | $22,266 | N/A | $2,832 | $2,701 | N/A |
| Two or More Races | N/A | N/A | $68,458 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $36,481 | N/A |
Key observations: Households with American Indian and Alaska Native householders witnessed significant growth in median household income, marking an impressive increase of $51,967. On the other hand, households where householder is Some other race experienced a notable decline, with a decrease of $41,281 in median income.