Age of householder
Per the latest American Community Survey by the Census Bureau, Benzonia township sees its highest median household income among householders in the age group of 65 years and over old, at $69,752. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Benzonia township, where there exist only two delineated age groups, the median household income is $69,752 for householders within the 65 years and over age group, compared to $51,220 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $19,901(39.92%), escalating from a median of $49,851 in 2011 to $69,752 in 2021.
- 0 households where the householder is under 25 years old.
- 195(17.35%) households with a householder aged between 25 and 44 years.
- 445(39.59%) households with a householder aged between 45 and 64 years.
- 484(43.06%) households where the householder is over 65 years old.
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Gender
In Benzonia township, the population consists of 1,354 males (49.58%) and 1,377 females (50.42%). Here are the primary highlights from the gender-based income distribution analysis:
- In Benzonia township, the median income for all workers aged 15 years and older, regardless of work hours, was $31,629 for males and $31,527 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $59,836 for males and $55,667 for females.
- In Benzonia township, for all workers aged 15 years and older, irrespective of full-time or part-time work, the median income was $31,527 for both males and females.
- In Benzonia township, among full-time, year-round workers aged 15 years and older, males earned a median income of $59,836, while females earned $55,667, resulting in a 7% gender pay gap among full-time workers. This illustrates that women earn 93 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the township of Benzonia township.
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Race
In Benzonia township, the population is predominantly White, constituting 89.09% 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 $58,494.
- In Benzonia township, despite the White population being the most populous, it is worth noting that American Indian and Alaska Native households actually reports the highest median household income, with a median income of $98,093. This reveals that, while Whites may be the most numerous in Benzonia township, American Indian and Alaska Native households experience greater economic prosperity in terms of median household income.
- In Benzonia township, the median household income for the households where the householder is White decreased by $3,071(4.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $61,565 in 2011 and $58,494 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
Benzonia Township, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Benzonia township increased by $6,355 (11.03%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 6,298 (from $57,656 to $63,954). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 4,091 (from $63,129 to $59,038).
- It then further increased to $178,425 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4854, it is evident that income distribution in Benzonia Township, Michigan exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $87,393. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $36,409.
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