Madison, WI median household income diversity
Based on our analysis of the distribution of Madison population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 76.11% of the total residents in Madison. Notably, the median household income for White households is $77,649.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $77,649.
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 Madison, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $77,649. Some Other Race households have a median income of approximately $70,402. Two or More Races households have a median income of approximately $62,702. Asian households have a median income of approximately $61,202. Conversely, Black or African American households reveal the lowest median income at $44,141. These disparities underscore the varied income distribution within the city of Madison.
Madison, WI median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Madison, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Madison.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Madison, the median household income for the households where the householder is White increased by $6,072(8.48%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $71,577 in 2012 and $77,649 in 2022.
- Black or African American: In Madison, the median household income for the households where the householder is Black or African American increased by $10,710(32.04%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $33,431 in 2012 and $44,141 in 2022.
- American Indian and Alaska Native: In Madison, the median household income for American Indian and Alaska Native households was $52,903 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 Madison, the median household income for the households where the householder is Asian increased by $1,956(3.30%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $59,246 in 2012 and $61,202 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 Madison, there was no reported median household income for Some other race households in 2012. However, in 2022, the median household income increased to $70,402, marking a significant change.
- Two or more races (multiracial): In Madison, the median household income for the households where the householder is multiracial increased by $21,503(52.19%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $41,199 in 2012 and $62,702 in 2022.
- Above analysis reconfirms that there are 5 race households in Madison. Households are categorized based on the self-identified race of the head of household.
Madison 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 | $71,415 | $73,039 | $71,577 | $66,307 | $74,914 | $76,218 | $77,118 | $79,677 | $78,407 | $82,285 | N/A | $78,399 | $77,649 |
| Black or African American | $42,165 | $16,802 | $33,431 | $33,908 | $29,942 | $42,485 | $33,641 | $31,342 | $49,366 | $37,278 | N/A | $46,250 | $44,141 |
| American Indian and Alaska Native | $36,931 | N/A | $52,903 | N/A | $45,142 | $36,736 | $32,722 | $52,564 | $118,072 | $41,251 | N/A | N/A | N/A |
| Asian | $47,924 | $53,966 | $59,246 | $54,011 | $44,987 | $52,838 | $87,442 | $79,883 | $76,218 | $70,070 | N/A | $64,308 | $61,202 |
| Some Other Race | $65,366 | $90,055 | N/A | $47,755 | $45,266 | $46,251 | $55,545 | $62,782 | $66,899 | $70,137 | N/A | $50,859 | $70,402 |
| Two or More Races | $70,064 | $58,276 | $41,199 | $37,041 | $40,814 | $31,262 | $77,842 | $66,186 | $54,210 | $94,448 | N/A | $51,539 | $62,702 |
Key observations: Households with Some other race householders witnessed significant growth in median household income, marking an impressive increase of $70,402. On the other hand, households where householder is American Indian and Alaska Native experienced a notable decline, with a decrease of $52,903 in median income.