Age of householder
Per the latest American Community Survey by the Census Bureau, Bay Mills township sees its highest median household income among householders in the age group of 45 to 64 years old, at $97,282. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Bay Mills township, householders within the 45 to 64 years age group have the highest median household income at $97,282, followed by those in the 65 years and over age group with an income of $63,504. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $41,548. Notably, householders within the under 25 years age group, had the lowest median household income at $34,744.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $14,470(29.51%), escalating from a median of $49,034 in 2011 to $63,504 in 2021.
- 32(4.56%) households where the householder is under 25 years old.
- 258(36.80%) households with a householder aged between 25 and 44 years.
- 196(27.96%) households with a householder aged between 45 and 64 years.
- 215(30.67%) households where the householder is over 65 years old.
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Gender
In Bay Mills township, the population consists of 880 males (48.78%) and 924 females (51.22%). Here are the primary highlights from the gender-based income distribution analysis:
- In Bay Mills township, the median income for all workers aged 15 years and older, regardless of work hours, was $29,884 for males and $25,798 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $42,426 for males and $43,024 for females.
- In Bay Mills township, the median income for all workers aged 15 years and older, regardless of work hours, was $29,884 for males and $25,798 for females.
- In Bay Mills township, among full-time, year-round workers aged 15 years and older, males earned a median income of $42,426, while females earned $43,024
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Race
In Bay Mills township, the population is predominantly American Indian and Alaska Native, constituting 43.18% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for American Indian and Alaska Native households is $47,096.
- In Bay Mills township, despite the American Indian and Alaska Native population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $76,339. This reveals that, while American Indian and Alaska Natives may be the most numerous in Bay Mills township, Asian households experience greater economic prosperity in terms of median household income.
- In Bay Mills township, the median household income for the households where the householder is White increased by $5,288(8.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $64,971 in 2011 and $70,259 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.
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Year by year
Bay Mills Township, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Bay Mills township decreased by $446 (0.78%), 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 2017 to 2018, when the median household income increased by 4,309 (from $58,329 to $62,638). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 4,873 (from $61,397 to $56,524).
- It then further increased to $136,465 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4419, it is evident that income distribution in Bay Mills Township, Michigan exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $71,442. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $28,953.
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