Gender
In Boone County, the population consists of 34,715 males (49.71%) and 35,124 females (50.29%). Here are the primary highlights from the gender-based income distribution analysis:
- In Boone County, the median income for all workers aged 15 years and older, regardless of work hours, was $64,574 for males and $38,253 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $84,658 for males and $61,299 for females.
- In Boone County, the median income for all workers aged 15 years and older, regardless of work hours, was $64,574 for males and $38,253 for females.
- In Boone County, among full-time, year-round workers aged 15 years and older, males earned a median income of $84,658, while females earned $61,299, leading to a 28% gender pay gap among full-time workers. This illustrates that women earn 72 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Boone County, the population is predominantly White, constituting 90.60% 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 $100,642.
- In Boone County, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $207,696. This reveals that, while Whites may be the most numerous in Boone County, Asian households experience greater economic prosperity in terms of median household income.
- In Boone County, there was no reported median household income for White households in 2012. However, in 2022, the median household income increased to $100,642, marking a significant change.
- 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 2012 and 2022.
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Year by year
Boone County, IN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Boone County increased by $9,964 (10.77%), 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 5,963 (from $95,390 to $101,353). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 3,266 (from $92,553 to $89,287).
- It then further increased to $173,220 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5074, it is evident that income distribution in Boone County, IN exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $120,283. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $58,479.
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