Age of householder
Per the latest American Community Survey by the Census Bureau, Addison (Webster Springs) sees its highest median household income among householders in the age group of 45 to 64 years old, at $44,137. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Addison (Webster Springs), the median household income stands at $44,137 for householders within the 45 to 64 years age group, followed by $22,989 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $20,117.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $7,124(26.15%), declining from a median of $27,241 in 2011 to $20,117 in 2021.
- 4(0.92%) households where the householder is under 25 years old.
- 152(34.86%) households with a householder aged between 25 and 44 years.
- 190(43.58%) households with a householder aged between 45 and 64 years.
- 90(20.64%) households where the householder is over 65 years old.
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Gender
In Addison (Webster Springs), the population consists of 551 males (42.42%) and 748 females (57.58%). Here are the primary highlights from the gender-based income distribution analysis:
- In Addison (Webster Springs), the median income for all workers aged 15 years and older, regardless of work hours, was $24,260 for males and $16,000 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $41,762 for males and $43,687 for females.
- In Addison (Webster Springs), the median income for all workers aged 15 years and older, regardless of work hours, was $24,260 for males and $16,000 for females.
- In Addison (Webster Springs), among full-time, year-round workers aged 15 years and older, males earned a median income of $41,762, while females earned $43,687
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Race
In Addison (Webster Springs), the population is predominantly White, constituting 97.54% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for White households is $24,321.
- In Addison (Webster Springs), White is both the largest group and the one with the highest median household income, which stands at $24,321.
- In Addison (Webster Springs), the median household income for the households where the householder is White decreased by $6,883(22.06%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $31,204 in 2011 and $24,321 in 2021.
- As per the U.S. Census Bureau population data, in Addison (Webster Springs), 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.
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Year by year
Addison (Webster Springs), WV median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Addison (Webster Springs) decreased by $6,322 (21.03%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 10,635 (from $33,463 to $44,098). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 7,725 (from $32,724 to $24,999).
- It then further increased to $114,847 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5154, it is evident that income distribution in Addison (Webster Springs), WV exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $43,987. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $11,637.
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