Age of householder
Per the latest American Community Survey by the Census Bureau, Centertown sees its highest median household income among householders in the age group of under 25 years old, at $74,313. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Centertown, householders within the under 25 years age group have the highest median household income at $74,313, followed by those in the 65 years and over age group with an income of $57,199. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $52,694. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $48,641.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $26,144(84.19%), escalating from a median of $31,055 in 2011 to $57,199 in 2021.
- 4(2.52%) households where the householder is under 25 years old.
- 48(30.19%) households with a householder aged between 25 and 44 years.
- 36(22.64%) households with a householder aged between 45 and 64 years.
- 71(44.65%) households where the householder is over 65 years old.
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Gender
In Centertown, the population consists of 235 males (49.58%) and 239 females (50.42%). Here are the primary highlights from the gender-based income distribution analysis:
- In Centertown, the median income for all workers aged 15 years and older, regardless of work hours, was $31,568 for males and $14,538 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $42,426 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Centertown, the median income for all workers aged 15 years and older, regardless of work hours, was $31,568 for males and $14,538 for females.
- In Centertown, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $42,426 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Centertown, the population is predominantly White, constituting 97.26% 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 $53,274.
- In Centertown, White is both the largest group and the one with the highest median household income, which stands at $53,274.
- In Centertown, the median household income for the households where the householder is White increased by $7,509(16.41%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $45,765 in 2011 and $53,274 in 2021.
- As per the U.S. Census Bureau population data, in Centertown, 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
Centertown, KY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Centertown increased by $11,875 (28.29%), 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 2011 to 2012, when the median household income increased by 7,068 (from $45,765 to $52,833). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 5,519 (from $52,833 to $47,314).
- It then further decreased to 47,020 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3028, it is evident that income distribution in Centertown, KY exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $53,235. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $48,641.
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