Median Household Income in Miller'S Cove, TX (2010-2021, in 2022 inflation-adjusted dollars)
Below, you will find a table illustrating the median household income in Miller'S Cove, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.
Year | Median Household Income | YOY Change($) | YOY Change(%) |
---|---|---|---|
2010 | 55,899 | - | - |
2011 | 59,495 | 3,596 | 6.43% |
2012 | 31,527 | -27,968 | -47.01% |
2013 | 30,912 | -615 | -1.95% |
2014 | 34,903 | 3,991 | 12.91% |
2015 | 29,423 | -5,480 | -15.70% |
2016 | 30,577 | 1,154 | 3.92% |
2017 | 35,555 | 4,978 | 16.28% |
2018 | 34,098 | -1,457 | -4.10% |
2019 | 30,924 | -3,174 | -9.31% |
2020 | 46,356 | 15,432 | 49.90% |
2021 | 48,027 | 1,671 | 3.60% |
TABLE OF CONTENTS
Miller'S Cove, TX median household income trends: 2010 to 2021
From 2010 to 2021, the median household income for Miller'S Cove decreased by $7,872 (14.08%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.
Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 6 years and declined for 5 years.
The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 15,432 (from $30,924 to $46,356). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 27,968 (from $59,495 to $31,527).
In Texas, among cities with populations of fewer than 5,000 residents, Miller'S Cove ranks 513th out of 733 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Texas.
Things to know
What is the Gini index for Miller'S Cove, TX?
As per the Census Bureau, the Gini coefficient for Miller'S Cove is 0.2336. With this value of Gini coefficient, it is evident that income distribution in Miller'S Cove exihibits characterstics of moderate equality .
This also implies that the majority of households in Miller'S Cove enjoy fairly equitable access to income resources, contributing to a reasonably fair and even economic landscape.
What is the median household income in Miller'S Cove, TX?
As per the latest data available from American Community Survey, the median household income for Miller'S Cove is $48,027 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 64.37% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
How does Miller'S Cove, TX median household income compare to the rest of the United States?
In Texas, among cities with populations of fewer than 5,000 residents, Miller'S Cove ranks 513th out of 733 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Texas.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)