Age of householder
Per the latest American Community Survey by the Census Bureau, Binghamton town sees its highest median household income among householders in the age group of 45 to 64 years old, at $115,706. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Binghamton town, the median household income stands at $115,706 for householders within the 45 to 64 years age group, followed by $103,049 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $50,425.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $10,973(11.92%), escalating from a median of $92,076 in 2011 to $103,049 in 2021.
- 23(1.34%) households where the householder is under 25 years old.
- 385(22.42%) households with a householder aged between 25 and 44 years.
- 808(47.06%) households with a householder aged between 45 and 64 years.
- 501(29.18%) households where the householder is over 65 years old.
Read more about Binghamton Town, New York median household income by age ➔
Gender
In Binghamton town, the population consists of 2,170 males (46.55%) and 2,492 females (53.45%). Here are the primary highlights from the gender-based income distribution analysis:
- In Binghamton town, the median income for all workers aged 15 years and older, regardless of work hours, was $51,311 for males and $36,001 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $65,691 for males and $63,804 for females.
- In Binghamton town, the median income for all workers aged 15 years and older, regardless of work hours, was $51,311 for males and $36,001 for females.
- In Binghamton town, among full-time, year-round workers aged 15 years and older, males earned a median income of $65,691, while females earned $63,804, resulting in a 3% gender pay gap among full-time workers. This illustrates that women earn 97 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 town of Binghamton town.
Read more about Binghamton Town, New York income by gender ➔
Race
In Binghamton town, the population is predominantly White, constituting 94.68% 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 $94,392.
- In Binghamton town, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $119,514. This reveals that, while Whites may be the most numerous in Binghamton town, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Binghamton town, the median household income for the households where the householder is White increased by $2,654(2.89%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $91,738 in 2011 and $94,392 in 2021.
- In Binghamton town, the median household income for Black or African American households was $58,569 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
Read more about Binghamton Town, New York median household income by race ➔
Year by year
Binghamton Town, New York median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Binghamton town increased by $6,012 (6.55%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 4,639 (from $91,701 to $96,340). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 7,974 (from $88,950 to $80,976).
- It then further increased to $168,133 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3982, it is evident that income distribution in Binghamton Town, New York exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $110,793. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,373.
Read more about Binghamton Town, New York median household income ➔