Speedway, IN median household income diversity
Based on our analysis of the distribution of Speedway population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 66.36% of the total residents in Speedway. Notably, the median household income for White households is $63,964.
Interestingly, White is both the largest group and the one with the highest median household income, which stands at $63,964.
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).
In Speedway, a diversity of median household incomes is evident among households of different races. The White households boast the highest median household income at about $63,964. Black or African American households have a median income of approximately $44,436. Some Other Race households have a median income of approximately $41,902. Conversely, Two or More Races households reveal the lowest median income at $35,238. These disparities underscore the varied income distribution within the town of Speedway.
Speedway, IN median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Speedway, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the town of Speedway.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Speedway, the median household income for the households where the householder is White increased by $4,284(7.18%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $59,680 in 2011 and $63,964 in 2021.
- Black or African American: In Speedway, the median household income for the households where the householder is Black or African American increased by $3,896(9.61%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $40,540 in 2011 and $44,436 in 2021.
- 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: Even though there is a population where the householder is Asian, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
- 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 2011 and 2021.
- Some other race: In Speedway, the median household income for the households where the householder is Some other race increased by $11,011(35.64%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $30,891 in 2011 and $41,902 in 2021.
- Two or more races (multiracial): In Speedway, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $35,238(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 4 race households in Speedway. Households are categorized based on the self-identified race of the head of household.
Speedway 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 | $59,224 | $59,680 | $59,568 | $56,812 | $58,606 | $57,494 | $59,979 | $54,602 | $60,107 | $57,612 | $65,363 | $63,964 | N/A |
| Black or African American | $41,851 | $40,540 | $34,958 | $35,686 | $35,162 | $34,743 | $36,881 | $36,921 | $34,453 | $37,960 | $45,132 | $44,436 | N/A |
| Asian | N/A | N/A | N/A | N/A | $61,940 | $59,169 | $50,415 | $49,312 | $47,961 | $49,919 | $49,297 | N/A | N/A |
| Native Hawaiian and Other Pacific Islander | N/A | N/A | $35,805 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Some Other Race | $31,925 | $30,891 | $71,103 | $31,117 | $24,771 | $23,973 | $24,337 | $22,682 | $21,684 | $22,070 | $44,173 | $41,902 | N/A |
| Two or More Races | N/A | N/A | $55,976 | $42,997 | $45,590 | $39,296 | $38,789 | $39,979 | $37,994 | $37,992 | $39,306 | $35,238 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $35,238. Among all racial categories, there was no instance of householders experiencing a decline in median household income, indicating a consistent or upward trend across all household demographics.