Median Household Income by Racial Categories in Richmond city, VA , in 2023 inflation-adjusted dollars
This table presents the median household income across different racial categories in Richmond city, 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 | $86,885 |
| Black or African American | $40,708 |
| American Indian and Alaska Native | $45,938 |
| Asian | $72,344 |
| Some Other Race | $70,265 |
| Two or More Races | $53,090 |
TABLE OF CONTENTS
Richmond city, VA median household income diversity
Based on our analysis of the distribution of Richmond city population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 43.24% of the total residents in Richmond city. Notably, the median household income for White households is $86,885.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $86,885.
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 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
In Richmond city, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $86,885. Asian households have a median income of approximately $72,344. Some Other Race households have a median income of approximately $70,265. Two or More Races households have a median income of approximately $53,090. American Indian and Alaska Native households have a median income of approximately $45,938. Conversly, Black or African American households reveal the lowest median income at $40,708. These disparities underscore the varied income distribution within the county of Richmond city.
Richmond city, VA median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Richmond city, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the county of Richmond city.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Richmond city, the median household income for the households where the householder is White increased by $14,562(20.13%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $72,323 in 2013 and $86,885 in 2023.
- Black or African American: In Richmond city, the median household income for the households where the householder is Black or African American increased by $1,854(4.77%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $38,854 in 2013 and $40,708 in 2023.
- American Indian and Alaska Native: In Richmond city, the median household income for the households where the householder is American Indian and Alaska Native decreased by $1,357(2.87%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $47,295 in 2013 and $45,938 in 2023.
- Asian: In Richmond city, the median household income for the households where the householder is Asian increased by $27,507(61.35%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $44,837 in 2013 and $72,344 in 2023.
- 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 2013 and 2023.
- Some other race: In Richmond city, the median household income for the households where the householder is Some other race increased by $29,426(72.05%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $40,839 in 2013 and $70,265 in 2023.
- Two or more races (multiracial): In Richmond city, the median household income for the households where the householder is multiracial decreased by $180(0.34%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $53,270 in 2013 and $53,090 in 2023.
- Above analysis reconfirms that there are 6 race households in Richmond city. Households are categorized based on the self-identified race of the head of household.
Richmond city median household income by race betwen 2013 and 2023
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 2013 to 2023, 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 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| White | $74,580 | $74,339 | $72,555 | $72,323 | $72,750 | $73,889 | $75,398 | $76,738 | $79,865 | $82,871 | $85,818 | $85,876 | $86,717 | $86,885 |
| Black or African American | $40,211 | $38,852 | $38,726 | $38,854 | $38,320 | $36,416 | $35,702 | $35,323 | $36,413 | $36,900 | $40,174 | $41,361 | $41,168 | $40,708 |
| American Indian and Alaska Native | $37,539 | N/A | $35,933 | $47,295 | $47,812 | $31,616 | $31,639 | $30,552 | $33,475 | $28,996 | N/A | $63,426 | $46,779 | $45,938 |
| Asian | $31,221 | $33,719 | $43,443 | $44,837 | $57,995 | $59,251 | $56,797 | $62,039 | $63,731 | $55,628 | $49,034 | $56,248 | $59,221 | $72,344 |
| Some Other Race | $44,657 | $38,860 | $36,312 | $40,839 | $40,381 | $39,449 | $38,705 | $38,190 | $47,075 | $55,685 | $58,682 | $61,566 | $59,633 | $70,265 |
| Two or More Races | $42,228 | N/A | $46,189 | $53,270 | $50,881 | $51,515 | $50,167 | $50,108 | $45,834 | $51,163 | $45,699 | $62,787 | $50,372 | $53,090 |
Things to know
Which racial group has the highest median household income according to the Census Bureau in Richmond city, VA?
Among the racial categories identified by the U.S. Census Bureau, and the American Community Survey 2019-2023 5-Year Estimates, households with White householders in Richmond city have the highest median household income at $86,885.
How does the median household income vary by race in Richmond city, VA?
In Richmond city, the median household income In Richmond city, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $86,885. Asian households have a median income of approximately $72,344. Some Other Race households have a median income of approximately $70,265. Two or More Races households have a median income of approximately $53,090. American Indian and Alaska Native households have a median income of approximately $45,938. Conversly, Black or African American households reveal the lowest median income at $40,708. These disparities underscore the varied income distribution within the county of Richmond city..
Which racial group has the lowest median household income according to the Census Bureau in Richmond city, VA?
Of the racial categories outlined by the U.S. Census Bureau and the American Community Survey 2019-2023 5-Year Estimates, households headed by individuals identifying as Black or African American in Richmond city exhibit the lowest median household income at $40,708 among the identified racial categories.
What is the median household income for White households in Richmond city, VA?
In Richmond city, the median household income for the households where the householder is White increased by $14,562(20.13%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $72,323 in 2013 and $86,885 in 2023.
What is the median household income for Black or African American households in Richmond city, VA?
In Richmond city, the median household income for the households where the householder is Black or African American increased by $1,854(4.77%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $38,854 in 2013 and $40,708 in 2023.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)