Age of householder
Per the latest American Community Survey by the Census Bureau, Big Woods township sees its highest median household income among householders in the age group of 45 to 64 years old, at $78,366. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Big Woods township, where there exist only two delineated age groups, the median household income is $78,366 for householders within the 45 to 64 years age group, compared to $74,538 for the 25 to 44 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $37,015(33.18%), declining from a median of $111,553 in 2011 to $74,538 in 2021.
- 0 households where the householder is under 25 years old.
- 11(68.75%) households with a householder aged between 25 and 44 years.
- 4(25%) households with a householder aged between 45 and 64 years.
- 1(6.25%) households where the householder is over 65 years old.
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Gender
In Big Woods township, the population consists of 30 males (50.85%) and 29 females (49.15%). Here are the primary highlights from the gender-based income distribution analysis:
- In Big Woods township, while the Census reported a median income of $14,187 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, while the Census reported a median income of $74,088 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Big Woods township, while the Census reported a median income of $14,187 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 Big Woods township, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $74,088 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Big Woods township, the population is predominantly White, constituting 83.05% 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 $73,862.
- In Big Woods township, White is both the largest group and the one with the highest median household income, which stands at $73,862.
- In Big Woods township, the median household income for the households where the householder is White decreased by $40,143(35.21%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $114,005 in 2011 and $73,862 in 2021.
- As per the U.S. Census Bureau population data, in Big Woods 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
Big Woods Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Big Woods township decreased by $37,340 (33.44%), 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 2012 to 2013, when the median household income increased by 48,882 (from $64,040 to $112,922). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 51,331 (from $131,858 to $80,527).
- NA
- With a Gini coefficient of 0.1927, it is evident that income distribution in Big Woods Township, Minnesota exihibits characterstics of high equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,064.
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