Age of householder
Per the latest American Community Survey by the Census Bureau, Akron township sees its highest median household income among householders in the age group of 25 to 44 years old, at $146,824. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Akron township, the median household income stands at $146,824 for householders within the 25 to 44 years age group, followed by $90,772 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $57,648.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $63,466(76.14%), escalating from a median of $83,358 in 2011 to $146,824 in 2021.
- 11(10.78%) households where the householder is under 25 years old.
- 12(11.76%) households with a householder aged between 25 and 44 years.
- 53(51.96%) households with a householder aged between 45 and 64 years.
- 26(25.49%) households where the householder is over 65 years old.
Read more about Akron township, Big Stone County, Minnesota median household income by age ➔
Gender
In Akron township, the population consists of 147 males (54.65%) and 122 females (45.35%). Here are the primary highlights from the gender-based income distribution analysis:
- In Akron township, the median income for all workers aged 15 years and older, regardless of work hours, was $50,443 for males and $28,037 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,186 for males and $48,416 for females.
- In Akron township, the median income for all workers aged 15 years and older, regardless of work hours, was $50,443 for males and $28,037 for females.
- In Akron township, among full-time, year-round workers aged 15 years and older, males earned a median income of $53,186, while females earned $48,416, resulting in a 9% gender pay gap among full-time workers. This illustrates that women earn 91 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the township of Akron township.
Read more about Akron township, Big Stone County, Minnesota income by gender ➔
Race
In Akron township, the population is predominantly White, constituting 95.91% 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 $90,751.
- In Akron township, White is both the largest group and the one with the highest median household income, which stands at $90,751.
- In Akron township, the median household income for the households where the householder is White increased by $49,889(122.09%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $40,862 in 2011 and $90,751 in 2021.
- As per the U.S. Census Bureau population data, in Akron township, 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.
Read more about Akron township, Big Stone County, Minnesota median household income by race ➔
Year by year
Akron township, Big Stone County, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Akron township increased by $41,417 (83.95%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2011 to 2012, when the median household income increased by 34,385 (from $40,862 to $75,247). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 32,968 (from $118,367 to $85,399).
- It then further increased to $152,679 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.39, it is evident that income distribution in Akron township, Big Stone County, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $32,027.
Read more about Akron township, Big Stone County, Minnesota median household income ➔