Median Household Income by Racial Categories in New Milford, NJ (2021, in 2022 inflation-adjusted dollars)
This table presents the median household income across different racial categories in New Milford, based on the latest 5-Year estimates from the American Community Survey, when adjusted for the inflation.
Race Of The Head Of Household | Median Household Income |
---|---|
White | $116,536 |
Black or African American | $98,042 |
Asian | $100,930 |
Some Other Race | $76,115 |
Two or More Races | $119,256 |
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New Milford, NJ median household income diversity
Based on our analysis of the distribution of New Milford population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 61.78% of the total residents in New Milford. Notably, the median household income for White households is $116,536.
Interestingly, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $119,256. This reveals that, while Whites may be the most numerous in New Milford, Two or More Races 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).
![New Milford, NJ median household income diversity across racial categories The bar chart shows New Milford, NJ median household income across all racial categories identified 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).](https://i.neilsberg.com/ch/new-milford-nj-median-household-income-by-race.jpeg)
In New Milford, a diversity of median household incomes is evident among households of different races. The Two or More Races households boast the highest median household income at about $119,256. White households have a median income of approximately $116,536. Asian households have a median income of approximately $100,930. Black or African American households have a median income of approximately $98,042. Conversely, Some Other Race households reveal the lowest median income at $76,115. These disparities underscore the varied income distribution within the borough of New Milford.
New Milford, NJ median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in New Milford, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the borough of New Milford.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In New Milford, the median household income for the households where the householder is White increased by $28,698(32.67%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $87,838 in 2011 and $116,536 in 2021.
- Black or African American: In New Milford, the median household income for the households where the householder is Black or African American increased by $6,512(7.11%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $91,530 in 2011 and $98,042 in 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 New Milford, the median household income for the households where the householder is Asian decreased by $30,373(23.13%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $131,303 in 2011 and $100,930 in 2021.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for New Milford, 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: In New Milford, the median household income for the households where the householder is Some other race decreased by $65,902(46.40%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $142,017 in 2011 and $76,115 in 2021.
- Two or more races (multiracial): In New Milford, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $119,256(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 5 race households in New Milford. Households are categorized based on the self-identified race of the head of household.
![New Milford, NJ median household income trends across races (2011-2021, in 2022 inflation-adjusted dollars) Line chart showing New Milford, NJ median household income trends for all racial categories identified by the U.S. Census Bureau. The chart illustrates income trends between 2011 and 2021, with incomes values adjusted for inflation using 2022 Consumer Price Index retroactive series using current methods. It provides insights into income disparities and variations across racial categories, aiding in data analysis and decision-making.](https://i.neilsberg.com/ch/new-milford-nj-median-household-income-by-race-trends.jpeg)
New Milford 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 | $89,390 | $87,838 | $85,188 | $82,611 | $81,394 | $90,709 | $93,975 | $102,439 | $107,525 | $110,030 | $106,426 | $116,536 | N/A |
Black or African American | $179,673 | $91,530 | $97,771 | $96,106 | $74,096 | $71,068 | $74,666 | $68,084 | $68,792 | $66,672 | N/A | $98,042 | N/A |
American Indian and Alaska Native | N/A | N/A | $3,201 | N/A | N/A | N/A | N/A | $82,711 | N/A | $143,671 | $144,830 | N/A | N/A |
Asian | $131,218 | $131,303 | $137,171 | $131,611 | $120,556 | $143,268 | $184,735 | $137,940 | $179,061 | $193,728 | $151,994 | $100,930 | N/A |
Some Other Race | $114,559 | $142,017 | $167,224 | $142,816 | $108,796 | $98,662 | $89,715 | $92,234 | $86,845 | $89,880 | $74,110 | $76,115 | N/A |
Two or More Races | $139,425 | N/A | $142,488 | $139,181 | $140,545 | $133,372 | $135,510 | $86,161 | $87,533 | $88,335 | N/A | $119,256 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $119,256. On the other hand, households where householder is Some other race experienced a notable decline, with a decrease of $65,902 in median income.
Things to know
Which racial group has the highest median household income according to the Census Bureau in New Milford, NJ?
Among the racial categories identified by the U.S. Census Bureau, and the American Community Survey 2017-2021 5-Year Estimates, households with Two or More Races householders in New Milford have the highest median household income at $119,256.
How does the median household income vary by race in New Milford, NJ?
In New Milford, the median household income In New Milford, a diversity of median household incomes is evident among households of different races. The Two or More Races households boast the highest median household income at about $119,256. White households have a median income of approximately $116,536. Asian households have a median income of approximately $100,930. Black or African American households have a median income of approximately $98,042. Conversely, Some Other Race households reveal the lowest median income at $76,115. These disparities underscore the varied income distribution within the borough of New Milford..
Which racial group has the lowest median household income according to the Census Bureau in New Milford, NJ?
Of the racial categories outlined by the U.S. Census Bureau and the American Community Survey 2017-2021 5-Year Estimates, households headed by individuals identifying as Some Other Race in New Milford exhibit the lowest median household income at $76,115 among the identified racial categories.
What is the median household income for White households in New Milford, NJ?
In New Milford, the median household income for the households where the householder is White increased by $28,698(32.67%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $87,838 in 2011 and $116,536 in 2021.
What is the median household income for Black or African American households in New Milford, NJ?
In New Milford, the median household income for the households where the householder is Black or African American increased by $6,512(7.11%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $91,530 in 2011 and $98,042 in 2021.
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)