Age of householder
Per the latest American Community Survey by the Census Bureau, Boones Mill sees its highest median household income among householders in the age group of 25 to 44 years old, at $98,903. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Boones Mill, the median household income stands at $98,903 for householders within the 25 to 44 years age group, followed by $66,657 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $44,588.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $34,341(53.19%), escalating from a median of $64,562 in 2011 to $98,903 in 2021.
- 1(1.27%) households where the householder is under 25 years old.
- 14(17.72%) households with a householder aged between 25 and 44 years.
- 30(37.97%) households with a householder aged between 45 and 64 years.
- 34(43.04%) households where the householder is over 65 years old.
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Gender
In Boones Mill, the population consists of 60 males (39.47%) and 92 females (60.53%). Here are the primary highlights from the gender-based income distribution analysis:
- In Boones Mill, the median income for all workers aged 15 years and older, regardless of work hours, was $60,464 for males and $33,328 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $65,395 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Boones Mill, the median income for all workers aged 15 years and older, regardless of work hours, was $60,464 for males and $33,328 for females.
- In Boones Mill, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $65,395 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Boones Mill, the population is predominantly White, constituting 94.74% 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 $65,395.
- In Boones Mill, White is both the largest group and the one with the highest median household income, which stands at $65,395.
- In Boones Mill, the median household income for the households where the householder is White decreased by $13,060(16.65%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $78,455 in 2011 and $65,395 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
Boones Mill, VA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Boones Mill increased by $5,732 (9.65%), 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 2010 to 2011, when the median household income increased by 19,062 (from $59,393 to $78,455). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 21,027 (from $88,055 to $67,028).
- It then further increased to $151,598 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3443, it is evident that income distribution in Boones Mill, VA exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $20,074.
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