Red Bank, NJ median household income diversity
Based on our analysis of the distribution of Red Bank population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 72.67% of the total residents in Red Bank. Notably, the median household income for White households is $98,799.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $98,799.
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 Red Bank, we observe that White households report a median income of about $98,799, Black or African American households report a median income of about $61,964 and Some Other Race households earn roughly $41,317. These differences shed light on the income distribution within the borough of Red Bank.
Red Bank, NJ median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Red Bank, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the borough of Red Bank.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Red Bank, the median household income for the households where the householder is White increased by $7,113(7.76%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $91,686 in 2011 and $98,799 in 2021.
- Black or African American: In Red Bank, the median household income for the households where the householder is Black or African American increased by $10,750(20.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,214 in 2011 and $61,964 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 Red Bank, the median household income for Asian households was $51,940 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Red Bank, 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 Red Bank, the median household income for the households where the householder is Some other race decreased by $18,290(30.68%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $59,607 in 2011 and $41,317 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 Red Bank. Households are categorized based on the self-identified race of the head of household.
Red Bank 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 | $83,933 | $91,686 | $86,276 | $92,196 | $91,495 | $90,051 | $92,510 | $105,385 | $92,406 | $96,101 | $93,957 | $98,799 | N/A |
| Black or African American | $44,760 | $51,214 | $43,227 | $45,736 | $44,868 | $57,962 | $42,553 | $44,140 | $46,419 | $62,721 | $80,496 | $61,964 | N/A |
| Asian | $86,204 | $51,940 | $25,543 | $47,787 | $15,425 | $49,038 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Some Other Race | $58,034 | $59,607 | $62,631 | $64,623 | $63,110 | $61,492 | $65,549 | $54,791 | $46,808 | $45,885 | $43,829 | $41,317 | N/A |
| Two or More Races | $91,499 | N/A | $67,173 | $67,816 | $81,356 | $63,492 | $60,135 | N/A | N/A | N/A | N/A | N/A | N/A |
Key observations: Households with Black or African American householders witnessed significant growth in median household income, marking an impressive increase of $10,750. On the other hand, households where householder is Asian experienced a notable decline, with a decrease of $51,940 in median income.