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Ricketts, IA Median Household Income: Trends, Analysis, and Key Findings

The median household income in Ricketts was $33,779 in 2021, which marked an an increase of 4,507(15.40%) from $29,272 in 2020. This income is 45.28% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
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By Neilsberg Research
Updated Jan 11, 2024

Median Household Income in Ricketts, IA (2010-2021, in 2022 inflation-adjusted dollars)

Below, you will find a table illustrating the median household income in Ricketts, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.

Year Median Household Income YOY Change($) YOY Change(%)
2010 64,091 - -
2011 63,744 -347 -0.54%
2012 56,035 -7,709 -12.09%
2013 59,055 3,020 5.39%
2014 56,569 -2,486 -4.21%
2015 58,692 2,123 3.75%
2016 59,243 551 0.94%
2017 54,791 -4,452 -7.51%
2018 47,347 -7,444 -13.59%
2019 45,211 -2,136 -4.51%
2020 29,272 -15,939 -35.25%
2021 33,779 4,507 15.40%
Need Income insights or broader demographics data for Ricketts?
We can help you with custom data for Ricketts, other cities in Crawford County, any place in Iowa, or across the USA!
Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time ✎ Custom Dataset: Ricketts Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

TABLE OF CONTENTS

Ricketts, IA median household income trends: 2010 to 2021

From 2010 to 2021, the median household income for Ricketts decreased by $30,312 (47.30%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 4 years and declined for 7 years.

The line chart shows Ricketts, IA median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Ricketts, IA median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. We observed that the median household income experienced growth year by year for 4 years and declined for 7 years. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 4,507 (from $29,272 to $33,779). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 15,939 (from $45,211 to $29,272).

In Iowa, among cities with populations of fewer than 5,000 residents, Ricketts ranks 592nd out of 600 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Iowa.

Median household income in Ricketts, IA by household size

To gain deeper insights into the median household income for Ricketts, we conducted an analysis of the most recent available data from the U.S. Census Bureau American Community Survey 5 year Estimates (the most recent data available).

Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, only 1-person households were found in Ricketts. The coefficient of variation (CV) is 37.73%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.

In the most recent year, 2021, The smallest household size for which the bureau reported a median household income was 1-person households, with an income of $17,565. Additionally, the Census Bureau did not report a median household income for larger household sizes.

Bar chart showing Ricketts, IA median household income for different household sizes in 2021. The chart illustrates income trends for 1-person to 7-or-more person households, with values adjusted for inflation. It provides insights into income disparities and variations across household sizes, aiding in data analysis and decision-making.
Ricketts, IA median household income, by household size (in 2022 inflation-adjusted dollars). Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Ricketts median household income by household size

The table below displays median household incomes for various household sizes, as reported by the U.S. Census Bureau. Explore how household income varies with the size of the family unit.

Household Size Median Household Income
1-person households 17,565
2-person households 0
3-person households 0
4-person households 0
5-person households 0
6-person households 0
7-or-more-person households 0
Exploring Ricketts's Diversity? Request Customized Data Now!

According to the Census Bureau data, the median household income reaches its peak among 1-person households, reaching $17,565 .

Things to know

What is the Gini index for Ricketts, IA?

As per the Census Bureau, the Gini coefficient for Ricketts is 0.3998. With this value of Gini coefficient, it is evident that income distribution in Ricketts exihibits characterstics of moderate equality .

This also implies that the majority of households in Ricketts enjoy fairly equitable access to income resources, contributing to a reasonably fair and even economic landscape.

What is the median household income in Ricketts, IA?

As per the latest data available from American Community Survey, the median household income for Ricketts is $33,779 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 45.28% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).

How does Ricketts, IA median household income compare to the rest of the United States?

In Iowa, among cities with populations of fewer than 5,000 residents, Ricketts ranks 592nd out of 600 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Iowa.

References

Datasets

Explore datasets by year of publication.
2023
Median Household Income Variation by Family Size in Ricketts, IA: Comparative analysis across 7 household sizes
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents median household incomes for various household sizes in Ricketts, IA, as reported by the U.S. Census Bureau. The dataset highlights the variation in median household income with the size of the family unit, offering valuable insights into economic trends and disparities within different household sizes, aiding in data analysis and decision-making.

Key observations

  • Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, only 1-person households were found in Ricketts. The coefficient of variation (CV) is 37.73%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.
  • In the most recent year, 2021, The smallest household size for which the bureau reported a median household income was 1-person households, with an income of $17,565. Additionally, the Census Bureau did not report a median household income for larger household sizes.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Household Sizes:

  • 1-person households
  • 2-person households
  • 3-person households
  • 4-person households
  • 5-person households
  • 6-person households
  • 7-or-more-person households

Variables / Data Columns

  • Household Size: This column showcases 7 household sizes ranging from 1-person households to 7-or-more-person households (As mentioned above).
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific household size.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Ricketts median household income. You can refer the same here

Ricketts, IA Median Household Income Trends (2010-2021, in 2022 inflation-adjusted dollars)
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset illustrates the median household income in Ricketts, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Ricketts decreased by $30,312 (47.30%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 4 years and declined for 7 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

  • 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

  • Year: This column presents the data year from 2010 to 2021
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
  • YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
  • YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Ricketts median household income. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore related topics

Ricketts, IA Income Ricketts, IA Demographics

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Median household income of places that contain Ricketts (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)
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About the author

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Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.
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Collection 5 Resources