Age of householder
Per the latest American Community Survey by the Census Bureau, Arrowhead township sees its highest median household income among householders in the age group of 45 to 64 years old, at $106,289. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Arrowhead township, where there exist only two delineated age groups, the median household income is $106,289 for householders within the 45 to 64 years age group, compared to $40,534 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $47,856(81.90%), escalating from a median of $58,433 in 2011 to $106,289 in 2021.
- 5(9.43%) households where the householder is under 25 years old.
- 10(18.87%) households with a householder aged between 25 and 44 years.
- 26(49.06%) households with a householder aged between 45 and 64 years.
- 12(22.64%) households where the householder is over 65 years old.
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Race
In Arrowhead township, the population is predominantly White, constituting 95.16% 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 $92,553.
- In Arrowhead township, White is both the largest group and the one with the highest median household income, which stands at $92,553.
- In Arrowhead township, the median household income for the households where the householder is White increased by $32,078(53.04%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $60,475 in 2011 and $92,553 in 2021.
- As per the U.S. Census Bureau population data, in Arrowhead 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.
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Year by year
Arrowhead Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Arrowhead township increased by $24,129 (37.48%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 25,705 (from $62,795 to $88,500). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 7,298 (from $72,784 to $65,486).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.3316, it is evident that income distribution in Arrowhead Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $28,509.
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