Riverwoods, IL median household income diversity
Based on our analysis of the distribution of Riverwoods population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 92.81% of the total residents in Riverwoods. Notably, the median household income for White households is $229,964.
Interestingly, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $270,229. This reveals that, while Whites may be the most numerous in Riverwoods, Asian 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. 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 Riverwoods, we observe that Asian households report a median income of about $270,229, while White households earn around $229,964. These differences shed light on the income distribution within the village of Riverwoods.
Riverwoods, IL median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Riverwoods, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the village of Riverwoods.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Riverwoods, the median household income for the households where the householder is White decreased by $14,117(5.78%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $244,081 in 2011 and $229,964 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: The U.S. Census Bureau population data for Riverwoods, indicates a lack of households led by American Indian and Alaska Native individuals. As a result, the median household income for the American Indian and Alaska Native population is not available.
- Asian: In Riverwoods, the median household income for the households where the householder is Asian increased by $86,987(47.47%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $183,242 in 2011 and $270,229 in 2021.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Riverwoods, 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: 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): 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 2 race households in Riverwoods. Households are categorized based on the self-identified race of the head of household.
Riverwoods 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 | $243,764 | $244,081 | $215,692 | $216,554 | $232,526 | $220,158 | $242,217 | $244,129 | $243,749 | $225,338 | $261,717 | $229,964 | N/A |
| Asian | $188,121 | $183,242 | $82,623 | $104,090 | $107,312 | N/A | N/A | N/A | $292,266 | $287,055 | $283,286 | $270,229 | N/A |
| Two or More Races | N/A | N/A | $127,200 | $139,733 | $139,946 | $139,969 | $141,469 | N/A | N/A | N/A | N/A | N/A | N/A |
Key observations: Households with Asian householders witnessed significant growth in median household income, marking an impressive increase of $86,987. On the other hand, households where householder is White experienced a notable decline, with a decrease of $14,117 in median income.