Montgomery County, VA median household income diversity
Based on our analysis of the distribution of Montgomery County population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 84.90% of the total residents in Montgomery County. Notably, the median household income for White households is $73,002.
Interestingly, despite the White population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $124,120. This reveals that, while Whites may be the most numerous in Montgomery County, Some Other Race 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.
In Montgomery County, a diversity of median household incomes is evident among households of different races. The Some Other Race households boast the highest median household income at about $124,120. White households have a median income of approximately $73,002. Asian households have a median income of approximately $54,080. Conversely, Two or More Races households reveal the lowest median income at $34,764. These disparities underscore the varied income distribution within the county of Montgomery County.
Montgomery County, VA median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Montgomery County, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the county of Montgomery County.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Montgomery County, the median household income for the households where the householder is White increased by $16,336(28.83%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $56,666 in 2012 and $73,002 in 2022.
- Black or African American: In Montgomery County, the median household income for Black or African American households was $19,508 in 2012(2022 inflation-adjusted dollars). However there is no reported data for 2022, indicating a lack of information for this specific year.
- 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 Montgomery County, the median household income for the households where the householder is Asian increased by $5,862(12.16%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $48,218 in 2012 and $54,080 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 Montgomery County, the median household income for the households where the householder is Some other race increased by $102,572(476.02%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $21,548 in 2012 and $124,120 in 2022.
- Two or more races (multiracial): In Montgomery County, the median household income for the households where the householder is multiracial decreased by $5,821(14.34%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $40,585 in 2012 and $34,764 in 2022.
- Above analysis reconfirms that there are 4 race households in Montgomery County. Households are categorized based on the self-identified race of the head of household.
Montgomery County 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 | $57,881 | $58,140 | $56,666 | $61,325 | $54,304 | $65,695 | $72,737 | $72,808 | $64,919 | $70,047 | N/A | $58,382 | $73,002 |
| Black or African American | N/A | $85,582 | $19,508 | $25,451 | $50,533 | $63,896 | N/A | $45,891 | $21,603 | $45,051 | N/A | $57,753 | N/A |
| Asian | $31,978 | $47,435 | $48,218 | $43,751 | $3,101 | N/A | N/A | $31,000 | N/A | $80,140 | N/A | N/A | $54,080 |
| Some Other Race | $3,372 | $3,268 | $21,548 | N/A | N/A | N/A | N/A | N/A | $41,965 | N/A | N/A | N/A | $124,120 |
| Two or More Races | N/A | $53,411 | $40,585 | N/A | $3,101 | N/A | N/A | N/A | $32,632 | N/A | N/A | $74,361 | $34,764 |
Key observations: Households with Some other race householders witnessed significant growth in median household income, marking an impressive increase of $102,572. On the other hand, households where householder is Black or African American experienced a notable decline, with a decrease of $19,508 in median income.