Age of householder
Per the latest American Community Survey by the Census Bureau, Bay View Gardens sees its highest median household income among householders in the age group of 25 to 44 years old, at $46,839. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Bay View Gardens, the median household income stands at $46,839 for householders within the 25 to 44 years age group, followed by $30,869 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $28,374.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $6,651(18.99%), declining from a median of $35,025 in 2011 to $28,374 in 2021.
- 0 households where the householder is under 25 years old.
- 60(37.27%) households with a householder aged between 25 and 44 years.
- 69(42.86%) households with a householder aged between 45 and 64 years.
- 32(19.88%) households where the householder is over 65 years old.
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Gender
In Bay View Gardens, the population consists of 199 males (51.96%) and 184 females (48.04%). Here are the primary highlights from the gender-based income distribution analysis:
- In Bay View Gardens, the median income for all workers aged 15 years and older, regardless of work hours, was $29,725 for males and $11,935 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $34,812 for males and $44,588 for females.
- In Bay View Gardens, the median income for all workers aged 15 years and older, regardless of work hours, was $29,725 for males and $11,935 for females.
- In Bay View Gardens, among full-time, year-round workers aged 15 years and older, males earned a median income of $34,812, while females earned $44,588
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Race
In Bay View Gardens, the population is predominantly White, constituting 99.48% 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 $40,609.
- In Bay View Gardens, White is both the largest group and the one with the highest median household income, which stands at $40,609.
- In Bay View Gardens, the median household income for the households where the householder is White decreased by $25,587(38.65%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $66,196 in 2011 and $40,609 in 2021.
- As per the U.S. Census Bureau population data, in Bay View Gardens, 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
Bay View Gardens, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Bay View Gardens decreased by $27,577 (40.62%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 2 years and declined for 9 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 4,308 (from $46,538 to $50,846). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 10,749 (from $67,013 to $56,264).
- It then further increased to $50,668 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4193, it is evident that income distribution in Bay View Gardens, IL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $41,345. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $33,779.
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