Age of householder
Per the latest American Community Survey by the Census Bureau, Cotton Plant sees its highest median household income among householders in the age group of 65 years and over old, at $21,098. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Cotton Plant only reports a median household income of $21,098 among householders in the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $11,034(109.64%), escalating from a median of $10,064 in 2011 to $21,098 in 2021.
- 13(6.19%) households where the householder is under 25 years old.
- 37(17.62%) households with a householder aged between 25 and 44 years.
- 87(41.43%) households with a householder aged between 45 and 64 years.
- 73(34.76%) households where the householder is over 65 years old.
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Gender
In Cotton Plant, the population consists of 222 males (49.12%) and 230 females (50.88%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cotton Plant, the median income for all workers aged 15 years and older, regardless of work hours, was $33,272 for males and $16,473 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $57,235 for males and $27,897 for females.
- In Cotton Plant, the median income for all workers aged 15 years and older, regardless of work hours, was $33,272 for males and $16,473 for females.
- In Cotton Plant, among full-time, year-round workers aged 15 years and older, males earned a median income of $57,235, while females earned $27,897, leading to a 51% gender pay gap among full-time workers. This illustrates that women earn 49 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 Cotton Plant, the population is predominantly Black or African American, constituting 71.46% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $17,951.
- In Cotton Plant, Black or African American is both the largest group and the one with the highest median household income, which stands at $17,951.
- In Cotton Plant, the median household income for the households where the householder is White decreased by $7,536(35.93%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $20,976 in 2011 and $13,440 in 2021.
- In Cotton Plant, the median household income for the households where the householder is Black or African American increased by $5,511(44.30%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $12,440 in 2011 and $17,951 in 2021.
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Year by year
Cotton Plant, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cotton Plant decreased by $43 (0.23%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 7,042 (from $25,500 to $32,542). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 11,379 (from $33,683 to $22,304).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4968, it is evident that income distribution in Cotton Plant, AR exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $0. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $17,073.
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