Age of householder
Per the latest American Community Survey by the Census Bureau, Cold Bay sees its highest median household income among householders in the age group of 25 to 44 years old, at $136,195. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Cold Bay, where there exist only two delineated age groups, the median household income is $136,195 for householders within the 25 to 44 years age group, compared to $117,549 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $114,281(3496.97%), escalating from a median of $3,268 in 2011 to $117,549 in 2021.
- 2(3.45%) households where the householder is under 25 years old.
- 24(41.38%) households with a householder aged between 25 and 44 years.
- 27(46.55%) households with a householder aged between 45 and 64 years.
- 5(8.62%) households where the householder is over 65 years old.
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Gender
In Cold Bay, the population consists of 47 males (45.63%) and 56 females (54.37%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cold Bay, while the Census reported a median income of $87,824 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $94,129 for males and $36,674 for females.
- In Cold Bay, while the Census reported a median income of $87,824 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Cold Bay, among full-time, year-round workers aged 15 years and older, males earned a median income of $94,129, while females earned $36,674, leading to a 61% gender pay gap among full-time workers. This illustrates that women earn 39 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 Cold Bay, the population is predominantly Asian, constituting 40.78% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Asian households is not available from the U.S. Census Bureau, possibly due to insufficient sample size, confidentiality or privacy constraints..
- In Cold Bay, despite the Asian population being the most populous, there is no income data available in the latest American Community Survey for it. Based on analysis from all of the data that is available, it is worth noting that White households actually reports the highest median household income, with a median income of $118,514. This reveals that, while Asians may be the most numerous in Cold Bay, White households experience greater economic prosperity in terms of median household income.
- In Cold Bay, the median household income for the households where the householder is White increased by $60,218(103.30%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $58,296 in 2011 and $118,514 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
Cold Bay, AK median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cold Bay increased by $75,765 (127.14%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 27,738 (from $79,115 to $106,853). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 21,238 (from $106,853 to $85,615).
- It then further decreased to 112,145 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.1343, it is evident that income distribution in Cold Bay, AK exihibits characterstics of high equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $25,855.
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