Gender
In Carmel, the population consists of 47,195 males (48.09%) and 50,942 females (51.91%). Here are the primary highlights from the gender-based income distribution analysis:
- In Carmel, the median income for all workers aged 15 years and older, regardless of work hours, was $85,402 for males and $42,003 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $123,869 for males and $72,379 for females.
- In Carmel, the median income for all workers aged 15 years and older, regardless of work hours, was $85,402 for males and $42,003 for females.
- In Carmel, among full-time, year-round workers aged 15 years and older, males earned a median income of $123,869, while females earned $72,379, leading to a 42% gender pay gap among full-time workers. This illustrates that women earn 58 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Carmel, the population is predominantly White, constituting 80.53% 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 $127,918.
- In Carmel, 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 $173,260. This reveals that, while Whites may be the most numerous in Carmel, Asian households experience greater economic prosperity in terms of median household income.
- In Carmel, the median household income for the households where the householder is White decreased by $2,550(1.95%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $130,468 in 2012 and $127,918 in 2022.
- In Carmel, the median household income for Black or African American households was $144,310 in 2012(2022 inflation-adjusted dollars). However there is no reported data for 2022, indicating a lack of information for this specific year.
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Year by year
Carmel, IN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Carmel decreased by $7,481 (5.46%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 5,844 (from $130,781 to $136,625). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 7,146 (from $136,625 to $129,479).
- It then further increased to $171,694 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4804, it is evident that income distribution in Carmel, IN exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $158,614. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $54,483.
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