Age of householder
Per the latest American Community Survey by the Census Bureau, Cochecton town sees its highest median household income among householders in the age group of 45 to 64 years old, at $84,041. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Cochecton town, the median household income stands at $84,041 for householders within the 45 to 64 years age group, followed by $57,018 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 $37,562.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $2,586(2.99%), declining from a median of $86,627 in 2011 to $84,041 in 2021.
- 13(2.03%) households where the householder is under 25 years old.
- 139(21.72%) households with a householder aged between 25 and 44 years.
- 279(43.59%) households with a householder aged between 45 and 64 years.
- 209(32.66%) households where the householder is over 65 years old.
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Gender
In Cochecton town, the population consists of 678 males (49.85%) and 682 females (50.15%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cochecton town, the median income for all workers aged 15 years and older, regardless of work hours, was $50,507 for males and $36,075 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $76,745 for males and $36,751 for females.
- In Cochecton town, the median income for all workers aged 15 years and older, regardless of work hours, was $50,507 for males and $36,075 for females.
- In Cochecton town, among full-time, year-round workers aged 15 years and older, males earned a median income of $76,745, while females earned $36,751, leading to a 52% gender pay gap among full-time workers. This illustrates that women earn 48 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 Cochecton town, the population is predominantly White, constituting 93.75% 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 $56,955.
- In Cochecton town, 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 $168,555. This reveals that, while Whites may be the most numerous in Cochecton town, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Cochecton town, the median household income for the households where the householder is White decreased by $16,447(22.41%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $73,402 in 2011 and $56,955 in 2021.
- In Cochecton town, 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
Cochecton, New York median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cochecton town decreased by $20,498 (26.23%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 7,166 (from $67,601 to $74,767). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 17,119 (from $74,767 to $57,648).
- It then further increased to $119,760 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4288, it is evident that income distribution in Cochecton, New York exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $86,338. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $37,757.
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