Age of householder
Per the latest American Community Survey by the Census Bureau, Bannockburn sees its highest median household income among householders in the age group of 45 to 64 years old, at $270,229. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Bannockburn, the median household income stands at $270,229 for householders within the 45 to 64 years age group, followed by $116,198 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 $97,958.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $29,962(12.47%), escalating from a median of $240,267 in 2011 to $270,229 in 2021.
- 0 households where the householder is under 25 years old.
- 48(22.02%) households with a householder aged between 25 and 44 years.
- 62(28.44%) households with a householder aged between 45 and 64 years.
- 108(49.54%) households where the householder is over 65 years old.
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Gender
In Bannockburn, the population consists of 753 males (57.26%) and 562 females (42.74%). Here are the primary highlights from the gender-based income distribution analysis:
- In Bannockburn, while the Census reported a median income of $19,367 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
- In Bannockburn, while the Census reported a median income of $19,367 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- In Bannockburn, for full-time, year-round workers aged 15 years and older, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
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Race
In Bannockburn, the population is predominantly White, constituting 70.72% 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 $163,488.
- In Bannockburn, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $270,229. This reveals that, while Whites may be the most numerous in Bannockburn, Asian households experience greater economic prosperity in terms of median household income.
- In Bannockburn, the median household income for the households where the householder is White decreased by $69,696(29.89%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $233,184 in 2011 and $163,488 in 2021.
- In Bannockburn, the median household income for Black or African American households was $326,895 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Bannockburn, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Bannockburn decreased by $98,615 (38.22%), 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 2015 to 2016, when the median household income increased by 38,283 (from $128,361 to $166,644). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 45,632 (from $213,333 to $167,701).
- It then further increased to $270,229 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.581, it is evident that income distribution in Bannockburn, IL exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $34,170.
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