Age of householder
Per the latest American Community Survey by the Census Bureau, Biscoe sees its highest median household income among householders in the age group of under 25 years old, at $51,850. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Biscoe, where there exist only two delineated age groups, the median household income is $51,850 for householders within the under 25 years age group, compared to $42,650 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $13,775(47.71%), escalating from a median of $28,875 in 2011 to $42,650 in 2021.
- 126(16.05%) households where the householder is under 25 years old.
- 193(24.59%) households with a householder aged between 25 and 44 years.
- 239(30.45%) households with a householder aged between 45 and 64 years.
- 227(28.92%) households where the householder is over 65 years old.
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Gender
In Biscoe, the population consists of 1,280 males (40.15%) and 1,908 females (59.85%). Here are the primary highlights from the gender-based income distribution analysis:
- In Biscoe, the median income for all workers aged 15 years and older, regardless of work hours, was $28,934 for males and $18,609 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $37,169 for males and $32,476 for females.
- In Biscoe, the median income for all workers aged 15 years and older, regardless of work hours, was $28,934 for males and $18,609 for females.
- In Biscoe, among full-time, year-round workers aged 15 years and older, males earned a median income of $37,169, while females earned $32,476, resulting in a 13% gender pay gap among full-time workers. This illustrates that women earn 87 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 Biscoe.
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Race
In Biscoe, the population is predominantly White, constituting 39.59% 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 not available from the U.S. Census Bureau, possibly due to insufficient sample size, confidentiality or privacy constraints..
- In Biscoe, despite the White population being the most populous, there is no income data available in the latest American Community Survey for it. Based on analysis from all of the data that is available, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $69,609. This reveals that, while Whites may be the most numerous in Biscoe, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Biscoe, the median household income for White households was $51,877 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- In Biscoe, the median household income for the households where the householder is Black or African American increased by $23,318(96.03%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $24,283 in 2011 and $47,601 in 2021.
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Year by year
Biscoe, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Biscoe increased by $3,791 (8.93%), 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 2016 to 2017, when the median household income increased by 10,076 (from $38,743 to $48,819). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 6,046 (from $39,881 to $33,835).
- It then further increased to $87,426 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3727, it is evident that income distribution in Biscoe, NC exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $41,235. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,192.
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