New Hope, TN median household income diversity
Based on our analysis of the distribution of New Hope population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 98.77% of the total residents in New Hope. Notably, the median household income for White households is $54,721.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $54,721.
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 New Hope, we observe that White households report a median income of about $54,721, while Two or More Races households earn around $44,588. These differences shed light on the income distribution within the city of New Hope.
New Hope, TN median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in New Hope, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of New Hope.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In New Hope, the median household income for the households where the householder is White decreased by $9,023(14.16%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $63,744 in 2011 and $54,721 in 2021.
- Black or African American: As per the U.S. Census Bureau population data, in New Hope, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
- American Indian and Alaska Native: The U.S. Census Bureau population data for New Hope, indicates a lack of households led by American Indian and Alaska Native individuals. As a result, the median household income for the American Indian and Alaska Native population is not available.
- Asian: In New Hope, based on U.S. Census Bureau population data, households with Asian householders are non existent. Therefore, the median household income for the Asian population cannot be determined.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for New Hope, there are no households with Native Hawaiian and Other Pacific Islander householders. Consequently, the median household income for the Native Hawaiian and Other Pacific Islander population is not available.
- Some other race: According to U.S. Census Bureau population data for New Hope, Some other race-led households are absent, rendering the median household income for the Some other race population inconclusive.
- Two or more races (multiracial): In New Hope, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $44,588(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 2 race households in New Hope. Households are categorized based on the self-identified race of the head of household.
New Hope 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 | $63,694 | $63,744 | $58,756 | $58,945 | $53,571 | $55,168 | $62,464 | $69,148 | $67,279 | $63,152 | $59,713 | $54,721 | N/A |
| Asian | N/A | N/A | $320,200 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Two or More Races | $55,658 | N/A | $55,234 | $58,353 | $117,896 | N/A | N/A | N/A | $49,685 | $49,438 | $42,020 | $44,588 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $44,588. On the other hand, households where householder is White experienced a notable decline, with a decrease of $9,023 in median income.