Age of householder
Per the latest American Community Survey by the Census Bureau, Covert township sees its highest median household income among householders in the age group of 25 to 44 years old, at $35,901. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Covert township, householders within the 25 to 44 years age group have the highest median household income at $35,901, followed by those in the 65 years and over age group with an income of $34,662. Meanwhile householders within the under 25 years age group report the second lowest median household income of $30,701. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $29,484.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $241(0.70%), escalating from a median of $34,421 in 2011 to $34,662 in 2021.
- 45(4.44%) households where the householder is under 25 years old.
- 370(36.53%) households with a householder aged between 25 and 44 years.
- 307(30.31%) households with a householder aged between 45 and 64 years.
- 291(28.73%) households where the householder is over 65 years old.
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Gender
In Covert township, the population consists of 1,246 males (49.11%) and 1,291 females (50.89%). Here are the primary highlights from the gender-based income distribution analysis:
- In Covert township, the median income for all workers aged 15 years and older, regardless of work hours, was $24,821 for males and $20,649 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $36,859 for males and $35,937 for females.
- In Covert township, the median income for all workers aged 15 years and older, regardless of work hours, was $24,821 for males and $20,649 for females.
- In Covert township, among full-time, year-round workers aged 15 years and older, males earned a median income of $36,859, while females earned $35,937, resulting in a 3% gender pay gap among full-time workers. This illustrates that women earn 97 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the township of Covert township.
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Race
In Covert township, the population is predominantly White, constituting 50.02% 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 $39,009.
- In Covert township, despite the White population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $52,180. This reveals that, while Whites may be the most numerous in Covert township, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Covert township, the median household income for the households where the householder is White increased by $590(1.54%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $38,419 in 2011 and $39,009 in 2021.
- In Covert township, the median household income for the households where the householder is Black or African American decreased by $7,927(25.03%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $31,668 in 2011 and $23,741 in 2021.
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Year by year
Covert Township, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Covert township decreased by $3,925 (10.18%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 3,969 (from $34,145 to $38,114). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 2,831 (from $39,584 to $36,753).
- It then further increased to $157,859 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4285, it is evident that income distribution in Covert Township, Michigan exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $34,529. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $33,007.
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