Montrose, CO median household income diversity
Based on our analysis of the distribution of Montrose population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 89.28% of the total residents in Montrose. Notably, the median household income for White households is $58,155.
Interestingly, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $89,363. This reveals that, while Whites may be the most numerous in Montrose, 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).
As we explore median household incomes in Montrose, we observe that Asian households report a median income of about $89,363, Some Other Race households report a median income of about $60,517 and White households earn roughly $58,155. These differences shed light on the income distribution within the city of Montrose.
Montrose, CO median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Montrose, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Montrose.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Montrose, the median household income for the households where the householder is White decreased by $3,054(4.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $61,209 in 2011 and $58,155 in 2021.
- Black or African American: Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- 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 2011 and 2021.
- Asian: In Montrose, the median household income for the households where the householder is Asian decreased by $34,857(28.06%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $124,220 in 2011 and $89,363 in 2021.
- 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 2011 and 2021.
- Some other race: In Montrose, the median household income for the households where the householder is Some other race increased by $5,743(10.48%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $54,774 in 2011 and $60,517 in 2021.
- Two or more races (multiracial): Even though there is a population where the householder is multiracial, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Above analysis reconfirms that there are 3 race households in Montrose. Households are categorized based on the self-identified race of the head of household.
Montrose 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 | $61,696 | $61,209 | $58,840 | $55,120 | $54,088 | $52,617 | $50,990 | $51,720 | $52,352 | $52,345 | $59,933 | $58,155 | N/A |
| American Indian and Alaska Native | $19,590 | N/A | $18,591 | $18,872 | $17,918 | $69,558 | N/A | N/A | N/A | $106,561 | $49,721 | N/A | N/A |
| Asian | $138,996 | $124,220 | $105,473 | N/A | N/A | N/A | $71,385 | $72,784 | $75,473 | $89,625 | $79,162 | $89,363 | N/A |
| Some Other Race | $56,637 | $54,774 | $57,992 | $39,679 | $62,518 | $28,409 | N/A | $27,645 | $61,924 | $42,853 | $40,841 | $60,517 | N/A |
| Two or More Races | $89,009 | N/A | $30,529 | $21,029 | $21,527 | $21,005 | N/A | $74,102 | $63,422 | $36,385 | N/A | N/A | N/A |
Key observations: Households with Some other race householders witnessed significant growth in median household income, marking an impressive increase of $5,743. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $34,857 in median income.