Age of householder
Per the latest American Community Survey by the Census Bureau, Cornwall-On-Hudson sees its highest median household income among householders in the age group of 25 to 44 years old, at $135,945. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Cornwall-On-Hudson, the median household income stands at $135,945 for householders within the 25 to 44 years age group, followed by $121,603 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $71,128.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $32,156(30.98%), escalating from a median of $103,789 in 2011 to $135,945 in 2021.
- 35(2.95%) households where the householder is under 25 years old.
- 262(22.09%) households with a householder aged between 25 and 44 years.
- 526(44.35%) households with a householder aged between 45 and 64 years.
- 363(30.61%) households where the householder is over 65 years old.
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Gender
In Cornwall-On-Hudson, the population consists of 1,451 males (47.43%) and 1,608 females (52.57%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cornwall-On-Hudson, the median income for all workers aged 15 years and older, regardless of work hours, was $71,753 for males and $36,057 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $99,365 for males and $76,613 for females.
- In Cornwall-On-Hudson, the median income for all workers aged 15 years and older, regardless of work hours, was $71,753 for males and $36,057 for females.
- In Cornwall-On-Hudson, among full-time, year-round workers aged 15 years and older, males earned a median income of $99,365, while females earned $76,613, leading to a 23% gender pay gap among full-time workers. This illustrates that women earn 77 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Cornwall-On-Hudson, the population is predominantly White, constituting 91.89% 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 $116,100.
- In Cornwall-On-Hudson, White is both the largest group and the one with the highest median household income, which stands at $116,100.
- In Cornwall-On-Hudson, the median household income for the households where the householder is White increased by $1,084(0.94%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $115,016 in 2011 and $116,100 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
Cornwall-On-Hudson, NY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cornwall-On-Hudson increased by $5,625 (5.15%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2013 to 2014, when the median household income increased by 8,926 (from $107,954 to $116,880). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 8,626 (from $124,022 to $115,396).
- It then further increased to $143,896 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3946, it is evident that income distribution in Cornwall-On-Hudson, NY exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $130,385. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $66,431.
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