Age of householder
Per the latest American Community Survey by the Census Bureau, Cut Bank sees its highest median household income among householders in the age group of 45 to 64 years old, at $56,134. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Cut Bank, the median household income stands at $56,134 for householders within the 45 to 64 years age group, followed by $53,890 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $28,790.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $4,406(7.56%), declining from a median of $58,296 in 2011 to $53,890 in 2021.
- 0 households where the householder is under 25 years old.
- 353(31.05%) households with a householder aged between 25 and 44 years.
- 519(45.65%) households with a householder aged between 45 and 64 years.
- 265(23.31%) households where the householder is over 65 years old.
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Gender
In Cut Bank, the population consists of 1,471 males (48.25%) and 1,578 females (51.75%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cut Bank, the median income for all workers aged 15 years and older, regardless of work hours, was $36,732 for males and $24,355 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $48,225 for males and $46,164 for females.
- In Cut Bank, the median income for all workers aged 15 years and older, regardless of work hours, was $36,732 for males and $24,355 for females.
- In Cut Bank, among full-time, year-round workers aged 15 years and older, males earned a median income of $48,225, while females earned $46,164, resulting in a 4% gender pay gap among full-time workers. This illustrates that women earn 96 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 city of Cut Bank.
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Race
In Cut Bank, the population is predominantly White, constituting 69.43% 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 $57,262.
- In Cut Bank, White is both the largest group and the one with the highest median household income, which stands at $57,262.
- In Cut Bank, the median household income for the households where the householder is White decreased by $6,225(9.81%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $63,487 in 2011 and $57,262 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
Cut Bank, MT median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cut Bank decreased by $7,583 (13.71%), 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 4,560 (from $43,135 to $47,695). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 12,268 (from $55,403 to $43,135).
- It then further increased to $52,902 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4371, it is evident that income distribution in Cut Bank, MT exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $64,888. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $38,188.
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