Age of householder
Per the latest American Community Survey by the Census Bureau, Albion township sees its highest median household income among householders in the age group of 45 to 64 years old, at $75,470. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Albion township, the median household income stands at $75,470 for householders within the 45 to 64 years age group, followed by $66,206 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $50,893.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $13,148(24.78%), escalating from a median of $53,058 in 2011 to $66,206 in 2021.
- 2(0.54%) households where the householder is under 25 years old.
- 83(22.25%) households with a householder aged between 25 and 44 years.
- 147(39.41%) households with a householder aged between 45 and 64 years.
- 141(37.80%) households where the householder is over 65 years old.
Read more about Albion Township, Michigan median household income by age ➔
Gender
In Albion township, the population consists of 473 males (47.06%) and 532 females (52.94%). Here are the primary highlights from the gender-based income distribution analysis:
- In Albion township, the median income for all workers aged 15 years and older, regardless of work hours, was $40,234 for males and $30,739 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,370 for males and $50,331 for females.
- In Albion township, the median income for all workers aged 15 years and older, regardless of work hours, was $40,234 for males and $30,739 for females.
- In Albion township, among full-time, year-round workers aged 15 years and older, males earned a median income of $53,370, while females earned $50,331, resulting in a 6% gender pay gap among full-time workers. This illustrates that women earn 94 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 Albion township.
Read more about Albion Township, Michigan income by gender ➔
Race
In Albion township, the population is predominantly White, constituting 99.10% 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 $64,855.
- In Albion township, White is both the largest group and the one with the highest median household income, which stands at $64,855.
- In Albion township, the median household income for the households where the householder is White increased by $1,656(2.62%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $63,199 in 2011 and $64,855 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
Read more about Albion Township, Michigan median household income by race ➔
Year by year
Albion Township, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Albion township increased by $3,613 (5.89%), 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 2016 to 2017, when the median household income increased by 6,327 (from $50,015 to $56,342). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 7,244 (from $59,724 to $52,480).
- It then further increased to $77,015 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4118, it is evident that income distribution in Albion Township, Michigan exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $66,657. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $58,099.
Read more about Albion Township, Michigan median household income ➔