Lakeville, MN median household income diversity
Based on our analysis of the distribution of Lakeville population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 84.02% of the total residents in Lakeville. Notably, the median household income for White households is $131,344.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $131,344.
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.
As we explore median household incomes in Lakeville, we observe that White households report a median income of about $131,344, Asian households report a median income of about $127,753 and Black or African American households earn roughly $39,952. These differences shed light on the income distribution within the city of Lakeville.
Lakeville, MN median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Lakeville, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Lakeville.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Lakeville, there was no reported median household income for White households in 2012. However, in 2022, the median household income increased to $131,344, marking a significant change.
- Black or African American: In Lakeville, there was no reported median household income for Black or African American households in 2012. However, in 2022, the median household income increased to $39,952, marking a significant change.
- 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 2012 and 2022.
- Asian: In Lakeville, there was no reported median household income for Asian households in 2012. However, in 2022, the median household income increased to $127,753, marking a significant change.
- 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: X
- Two or more races (multiracial): X
- Above analysis reconfirms that there are 3 race households in Lakeville. Households are categorized based on the self-identified race of the head of household.
Lakeville 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $124,283 | $136,160 | N/A | $142,635 | $131,344 |
| Black or African American | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $206,163 | N/A | N/A | N/A | $39,952 |
| Asian | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $156,908 | $120,226 | N/A | $151,153 | $127,753 |
| Some Other Race | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $76,259 | 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 | $168,100 | N/A |
Key observations: Households with White householders witnessed significant growth in median household income, marking an impressive increase of $131,344. Among all racial categories, there was no instance of householders experiencing a decline in median household income, indicating a consistent or upward trend across all household demographics.