Sherwood, MI median household income diversity
Based on our analysis of the distribution of Sherwood population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 95.48% of the total residents in Sherwood. Notably, the median household income for White households is $51,415.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $51,415.
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).
When examining median household incomes in Sherwood, it becomes apparent that, given the non-diverse population, the income distribution is also non-diverse.
Sherwood, MI median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Sherwood, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the village of Sherwood.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Sherwood, the median household income for the households where the householder is White increased by $1,680(3.38%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $49,735 in 2011 and $51,415 in 2021.
- Black or African American: As per the U.S. Census Bureau population data, in Sherwood, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
- 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 Sherwood, based on U.S. Census Bureau population data, households with Asian householders are non existent. Therefore, the median household income for the Asian population cannot be determined.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Sherwood, 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 1 race households in Sherwood. Households are categorized based on the self-identified race of the head of household.
Sherwood 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 | $49,249 | $49,735 | $47,115 | $47,314 | $51,580 | $49,555 | $51,981 | $59,581 | $49,685 | $48,799 | $51,800 | $51,415 | N/A |
| American Indian and Alaska Native | $59,031 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Two or More Races | $59,594 | N/A | N/A | N/A | N/A | N/A | $74,149 | $61,378 | $75,989 | $73,199 | N/A | N/A | N/A |