Lake Village, AR median household income diversity
Based on our analysis of the distribution of Lake Village population by race & ethnicity, the population is predominantly Black or African American. This particular racial category constitutes the majority, accounting for 52.65% of the total residents in Lake Village. Notably, the median household income for Black or African American households is $34,589.
Interestingly, despite the Black or African American population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $97,733. This reveals that, while Black or African Americans may be the most numerous in Lake Village, Asian 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 Village, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $97,733. Two or More Races households have a median income of approximately $71,242. White households have a median income of approximately $56,941. Conversely, Black or African American households reveal the lowest median income at $34,589. These disparities underscore the varied income distribution within the city of Lake Village.
Lake Village, AR median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Lake Village, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Lake Village.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Lake Village, the median household income for the households where the householder is White decreased by $3,316(5.50%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $60,257 in 2011 and $56,941 in 2021.
- Black or African American: In Lake Village, the median household income for the households where the householder is Black or African American increased by $13,166(61.46%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $21,423 in 2011 and $34,589 in 2021.
- American Indian and Alaska Native: The U.S. Census Bureau population data for Lake Village, 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 Lake Village, the median household income for the households where the householder is Asian increased by $10,289(11.77%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $87,444 in 2011 and $97,733 in 2021.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Lake Village, 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 Village, 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 Village, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $71,242(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 4 race households in Lake Village. Households are categorized based on the self-identified race of the head of household.
Lake Village 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 | $61,771 | $60,257 | $67,882 | $74,520 | $71,616 | $64,684 | $66,622 | $65,944 | $66,010 | $52,747 | $57,770 | $56,941 | N/A |
| Black or African American | $23,120 | $21,423 | $25,647 | $25,302 | $28,854 | $26,658 | $27,265 | $23,141 | $27,644 | $37,752 | $42,718 | $34,589 | N/A |
| Asian | $76,970 | $87,444 | $84,623 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $97,025 | $97,733 | N/A |
| Some Other Race | N/A | $29,932 | $29,275 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 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 | $72,376 | $71,242 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $71,242. On the other hand, households where householder is Some other race experienced a notable decline, with a decrease of $29,932 in median income.