Age of householder
Per the latest American Community Survey by the Census Bureau, Bear Park township sees its highest median household income among householders in the age group of 45 to 64 years old, at $102,011. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Bear Park township, where there exist only two delineated age groups, the median household income is $102,011 for householders within the 45 to 64 years age group, compared to $42,786 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 $15,384(17.76%), escalating from a median of $86,627 in 2011 to $102,011 in 2021.
- 7(10.94%) households where the householder is under 25 years old.
- 12(18.75%) households with a householder aged between 25 and 44 years.
- 23(35.94%) households with a householder aged between 45 and 64 years.
- 22(34.38%) households where the householder is over 65 years old.
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Gender
In Bear Park township, the population consists of 102 males (55.43%) and 82 females (44.57%). Here are the primary highlights from the gender-based income distribution analysis:
- In Bear Park township, the median income for all workers aged 15 years and older, regardless of work hours, was $39,994 for males and $29,274 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $63,504 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Bear Park township, the median income for all workers aged 15 years and older, regardless of work hours, was $39,994 for males and $29,274 for females.
- In Bear Park township, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $63,504 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Bear Park township, the population is predominantly White, constituting 100% 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 $71,340.
- In Bear Park township, White is both the largest group and the one with the highest median household income, which stands at $71,340.
- In Bear Park township, the median household income for the households where the householder is White increased by $30,478(74.59%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $40,862 in 2011 and $71,340 in 2021.
- As per the U.S. Census Bureau population data, in Bear Park 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
Bear Park Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Bear Park township increased by $10,060 (16.42%), 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 2015 to 2016, when the median household income increased by 12,049 (from $54,201 to $66,250). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 20,418 (from $61,280 to $40,862).
- It then further increased to $72,962 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3832, it is evident that income distribution in Bear Park Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $41,262.
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