Age of householder
Per the latest American Community Survey by the Census Bureau, Carrabassett Valley town sees its highest median household income among householders in the age group of 25 to 44 years old, at $59,225. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Carrabassett Valley town, where there exist only two delineated age groups, the median household income is $59,225 for householders within the 25 to 44 years age group, compared to $57,657 for the 45 to 64 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $15,218(20.44%), declining from a median of $74,443 in 2011 to $59,225 in 2021.
- 0 households where the householder is under 25 years old.
- 41(11.58%) households with a householder aged between 25 and 44 years.
- 127(35.88%) households with a householder aged between 45 and 64 years.
- 186(52.54%) households where the householder is over 65 years old.
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Gender
In Carrabassett Valley town, the population consists of 351 males (59.90%) and 235 females (40.10%). Here are the primary highlights from the gender-based income distribution analysis:
- In Carrabassett Valley town, the median income for all workers aged 15 years and older, regardless of work hours, was $57,877 for males and $27,445 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $58,321 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Carrabassett Valley town, the median income for all workers aged 15 years and older, regardless of work hours, was $57,877 for males and $27,445 for females.
- In Carrabassett Valley town, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $58,321 for males, while data for females was unavailable due to an insufficient number of sample observations.
Read more about Carrabassett Valley, Maine income by gender ➔
Race
In Carrabassett Valley town, the population is predominantly White, constituting 100% 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 $59,406.
- In Carrabassett Valley town, White is both the largest group and the one with the highest median household income, which stands at $59,406.
- In Carrabassett Valley town, the median household income for the households where the householder is White decreased by $14,037(19.11%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $73,443 in 2011 and $59,406 in 2021.
- As per the U.S. Census Bureau population data, in Carrabassett Valley town, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
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Year by year
Carrabassett Valley, Maine median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Carrabassett Valley town decreased by $14,367 (19.47%), 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 2013 to 2014, when the median household income increased by 9,964 (from $73,494 to $83,458). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 16,514 (from $75,920 to $59,406).
- It then further increased to $158,083 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5261, it is evident that income distribution in Carrabassett Valley, Maine exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $174,973. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $56,773.
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