Age of householder
Per the latest American Community Survey by the Census Bureau, Cascade township sees its highest median household income among householders in the age group of 45 to 64 years old, at $159,869. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Cascade township, the median household income stands at $159,869 for householders within the 45 to 64 years age group, followed by $122,729 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $118,000.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $9,841(9.10%), escalating from a median of $108,159 in 2011 to $118,000 in 2021.
- 6(0.57%) households where the householder is under 25 years old.
- 267(25.55%) households with a householder aged between 25 and 44 years.
- 532(50.91%) households with a householder aged between 45 and 64 years.
- 240(22.97%) households where the householder is over 65 years old.
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Gender
In Cascade township, the population consists of 1,383 males (48.42%) and 1,473 females (51.58%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cascade township, the median income for all workers aged 15 years and older, regardless of work hours, was $80,798 for males and $37,416 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $91,607 for males and $103,424 for females.
- In Cascade township, the median income for all workers aged 15 years and older, regardless of work hours, was $80,798 for males and $37,416 for females.
- In Cascade township, among full-time, year-round workers aged 15 years and older, males earned a median income of $91,607, while females earned $103,424
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Race
In Cascade township, the population is predominantly White, constituting 90.27% 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 $140,439.
- In Cascade township, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $212,805. This reveals that, while Whites may be the most numerous in Cascade township, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Cascade township, the median household income for the households where the householder is White increased by $391(0.28%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $140,048 in 2011 and $140,439 in 2021.
- In Cascade township, the median household income for Black or African American households was $326,895 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Cascade Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cascade township decreased by $12,955 (8.59%), 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 2016 to 2017, when the median household income increased by 4,291 (from $131,438 to $135,729). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 13,212 (from $150,851 to $137,639).
- It then further increased to $211,828 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4465, it is evident that income distribution in Cascade Township, Minnesota exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $160,259. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $53,651.
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