Age of householder
Per the latest American Community Survey by the Census Bureau, Croton-On-Hudson sees its highest median household income among householders in the age group of 25 to 44 years old, at $199,969. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Croton-On-Hudson, householders within the 25 to 44 years age group have the highest median household income at $199,969, followed by those in the 45 to 64 years age group with an income of $193,605. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $97,106. Notably, householders within the under 25 years age group, had the lowest median household income at $42,426.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $40,725(25.57%), escalating from a median of $159,244 in 2011 to $199,969 in 2021.
- 65(2.18%) households where the householder is under 25 years old.
- 604(20.25%) households with a householder aged between 25 and 44 years.
- 1,416(47.47%) households with a householder aged between 45 and 64 years.
- 898(30.10%) households where the householder is over 65 years old.
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Gender
In Croton-On-Hudson, the population consists of 3,824 males (46.13%) and 4,465 females (53.87%). Here are the primary highlights from the gender-based income distribution analysis:
- In Croton-On-Hudson, the median income for all workers aged 15 years and older, regardless of work hours, was $76,860 for males and $65,173 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $133,286 for males and $108,682 for females.
- In Croton-On-Hudson, the median income for all workers aged 15 years and older, regardless of work hours, was $76,860 for males and $65,173 for females.
- In Croton-On-Hudson, among full-time, year-round workers aged 15 years and older, males earned a median income of $133,286, while females earned $108,682, leading to a 18% gender pay gap among full-time workers. This illustrates that women earn 82 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 Croton-On-Hudson, the population is predominantly White, constituting 85.62% 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 $161,354.
- In Croton-On-Hudson, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $270,229. This reveals that, while Whites may be the most numerous in Croton-On-Hudson, Asian households experience greater economic prosperity in terms of median household income.
- In Croton-On-Hudson, the median household income for the households where the householder is White increased by $16,258(11.20%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $145,096 in 2011 and $161,354 in 2021.
- In Croton-On-Hudson, the median household income for the households where the householder is Black or African American increased by $116,297(85.73%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $135,661 in 2011 and $251,958 in 2021.
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Year by year
Croton-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 Croton-On-Hudson increased by $30,863 (23.46%), 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 2011 to 2012, when the median household income increased by 13,900 (from $141,773 to $155,673). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 18,979 (from $162,881 to $143,902).
- It then further increased to $270,229 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3936, it is evident that income distribution in Croton-On-Hudson, NY exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $193,182. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $78,522.
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