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The total population of Balsam township is estimated to be 664 with 396 males (59.64%) and 268 females (40.36%). There are 128 less females than males in Balsam township.
The median household income in Balsam township was $68,368 in 2021, which marked an a decrease of 673(0.97%) from $69,041 in 2020. This income is 91.64% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Balsam township sees its highest median household income among householders in the age group of 25 to 44 years old, at $101,786. Overall, the median household income for the township of Balsam township stands at $68,368.
In Balsam township, the median income for all workers aged 15 years and older, regardless of work hours, was $35,017 for males and $23,645 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $71,996 for males and $45,939 for females.
In Balsam township, population is primarily represented by White households, reporting a median income of $64,348.
In 2022, the population of Balsam township was 553, a 0.73% increase year-by-year from 2021. Previously, in 2021, Balsam township's population was 549, a decline of 0.36% compared to a population of 551 in 2020.
The median age in Balsam township, Itasca County, Minnesota is 60.3, as per 2021 ACS 5-Year Estimates. Of the total population, 5.96% were under the age of 15, 10.40% aged 15 to 29, 46.79% aged 30 to 64, 35.78% aged 65 to 84, and 1.07% were 85 years of age and older.
Racial distribution of Balsam township population: 92.66% are White, 1.07% are Black or African American, 1.38% are American Indian and Alaska Native and 4.89% are multiracial.