New Richmond, WI median household income diversity
Based on our analysis of the distribution of New Richmond population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 93.22% of the total residents in New Richmond. Notably, the median household income for White households is $80,096.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $80,096.
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 Richmond, we observe that White households report a median income of about $80,096, while Two or More Races households earn around $64,051. These differences shed light on the income distribution within the city of New Richmond.
New Richmond, WI median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in New Richmond, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of New Richmond.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In New Richmond, the median household income for the households where the householder is White increased by $13,780(20.78%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $66,316 in 2011 and $80,096 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 New Richmond, 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: 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: Even though there is a population where the householder is Some other race, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- Two or more races (multiracial): In New Richmond, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $64,051(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 2 race households in New Richmond. Households are categorized based on the self-identified race of the head of household.
New Richmond 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 | $73,123 | $66,316 | $67,175 | $63,135 | $67,190 | $67,008 | $70,203 | $69,369 | $70,317 | $69,141 | $76,845 | $80,096 | N/A |
| Black or African American | $52,707 | N/A | N/A | N/A | $53,053 | N/A | $17,836 | N/A | N/A | N/A | N/A | N/A | N/A |
| Two or More Races | $116,038 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $100,771 | $100,874 | $64,051 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $64,051. Among all racial categories, there was no instance of householders experiencing a decline in median household income, indicating a consistent or upward trend across all household demographics.