Summit, NJ Median Household Income By Race

Summit, NJ median household income diversity

Based on our analysis of the distribution of Summit population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 70.49% of the total residents in Summit. Notably, the median household income for White households is $183,485.

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 $240,503. This reveals that, while Whites may be the most numerous in Summit, 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).

In Summit, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $240,503. White households have a median income of approximately $183,485. Black or African American households have a median income of approximately $165,943. Two or More Races households have a median income of approximately $104,480. Conversely, Some Other Race households reveal the lowest median income at $78,873. These disparities underscore the varied income distribution within the city of Summit.

Summit, NJ median household income trends across races

A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Summit, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Summit.

Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:

• White: In Summit, the median household income for the households where the householder is White increased by $20,881(12.84%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $162,604 in 2011 and $183,485 in 2021.
• Black or African American: In Summit, the median household income for the households where the householder is Black or African American increased by $112,457(210.26%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $53,486 in 2011 and $165,943 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: In Summit, the median household income for the households where the householder is Asian increased by $84,884(54.55%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $155,619 in 2011 and $240,503 in 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 Summit, the median household income for the households where the householder is Some other race increased by $10,062(14.62%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $68,811 in 2011 and $78,873 in 2021.
• Two or more races (multiracial): In Summit, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $104,480(2022 inflation-adjusted dollars), marking a significant change.
• Above analysis reconfirms that there are 5 race households in Summit. Households are categorized based on the self-identified race of the head of household.

Key observations: Households with Black or African American householders witnessed significant growth in median household income, marking an impressive increase of $112,457. 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.

Things to know

Which racial group has the highest median household income according to the Census Bureau in Summit, NJ?

Among the racial categories identified by the U.S. Census Bureau, and the American Community Survey 2017-2021 5-Year Estimates, households with Asian householders in Summit have the highest median household income at $240,503.

How does the median household income vary by race in Summit, NJ?

In Summit, the median household income In Summit, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $240,503. White households have a median income of approximately $183,485. Black or African American households have a median income of approximately $165,943. Two or More Races households have a median income of approximately $104,480. Conversely, Some Other Race households reveal the lowest median income at $78,873. These disparities underscore the varied income distribution within the city of Summit..

Which racial group has the lowest median household income according to the Census Bureau in Summit, NJ?

Of the racial categories outlined by the U.S. Census Bureau and the American Community Survey 2017-2021 5-Year Estimates, households headed by individuals identifying as Some Other Race in Summit exhibit the lowest median household income at $78,873 among the identified racial categories.

What is the median household income for White households in Summit, NJ?

In Summit, the median household income for the households where the householder is White increased by $20,881(12.84%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $162,604 in 2011 and $183,485 in 2021.

What is the median household income for Black or African American households in Summit, NJ?

In Summit, the median household income for the households where the householder is Black or African American increased by $112,457(210.26%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $53,486 in 2011 and $165,943 in 2021.

References