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 Black or African American. This particular racial category constitutes the majority, accounting for 45.24% of the total residents in Richmond city. Notably, the median household income for Black or African American households is $37,707.
Interestingly, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $81,904. This reveals that, while Black or African Americans may be the most numerous in Richmond city, White 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.
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 $81,904. Asian households have a median income of approximately $75,926. Some Other Race households have a median income of approximately $42,420. Two or More Races households have a median income of approximately $39,803. Conversely, Black or African American households reveal the lowest median income at $37,707. 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 $13,592(19.90%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $68,312 in 2012 and $81,904 in 2022.
- Black or African American: In Richmond city, the median household income for the households where the householder is Black or African American increased by $2,712(7.75%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $34,995 in 2012 and $37,707 in 2022.
- 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 2012 and 2022.
- Asian: In Richmond city, the median household income for the households where the householder is Asian increased by $26,929(54.96%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $48,997 in 2012 and $75,926 in 2022.
- 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 2012 and 2022.
- Some other race: In Richmond city, the median household income for the households where the householder is Some other race increased by $15,313(56.49%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $27,107 in 2012 and $42,420 in 2022.
- Two or more races (multiracial): In Richmond city, the median household income for the households where the householder is multiracial decreased by $16,155(28.87%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $55,958 in 2012 and $39,803 in 2022.
- Above analysis reconfirms that there are 5 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 2012 and 2022
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 2012 to 2022, 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 | $69,389 | $69,125 | $68,312 | $69,760 | $71,222 | $73,444 | $82,616 | $76,464 | $83,271 | $82,533 | N/A | $84,059 | $81,904 |
| Black or African American | $41,871 | $36,161 | $34,995 | $34,396 | $37,173 | $31,261 | $31,011 | $33,878 | $40,964 | $37,004 | N/A | $34,572 | $37,707 |
| American Indian and Alaska Native | N/A | $99,782 | N/A | N/A | N/A | $30,299 | $40,507 | $92,411 | $43,163 | $22,348 | N/A | $60,638 | N/A |
| Asian | $23,866 | N/A | $48,997 | $50,787 | N/A | $59,052 | $62,861 | $75,052 | $52,342 | N/A | N/A | N/A | $75,926 |
| Some Other Race | N/A | $40,728 | $27,107 | $38,073 | N/A | $44,181 | N/A | N/A | $60,322 | $70,014 | N/A | $73,370 | $42,420 |
| Two or More Races | $39,800 | $29,605 | $55,958 | $52,498 | $35,510 | $50,086 | $30,051 | $79,513 | $31,818 | $85,741 | N/A | $48,970 | $39,803 |
Key observations: Households with Asian householders witnessed significant growth in median household income, marking an impressive increase of $26,929. On the other hand, households where householder is multiracial experienced a notable decline, with a decrease of $16,155 in median income.