Age of householder
Per the latest American Community Survey by the Census Bureau, Deposit town sees its highest median household income among householders in the age group of 65 years and over old, at $35,437. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Deposit town, where there exist only two delineated age groups, the median household income is $35,437 for householders within the 65 years and over age group, compared to $33,779 for the under 25 years age group.
- Notably, household income for individuals within the Under 25 years age group demonstrated the smallest decline of $5,720(14.48%), declining from a median of $39,499 in 2011 to $33,779 in 2021.
- 9(1.57%) households where the householder is under 25 years old.
- 103(17.91%) households with a householder aged between 25 and 44 years.
- 248(43.13%) households with a householder aged between 45 and 64 years.
- 215(37.39%) households where the householder is over 65 years old.
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Gender
In Deposit town, the population consists of 658 males (48.10%) and 710 females (51.90%). Here are the primary highlights from the gender-based income distribution analysis:
- In Deposit town, the median income for all workers aged 15 years and older, regardless of work hours, was $34,331 for males and $19,117 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,099 for males and $42,561 for females.
- In Deposit town, the median income for all workers aged 15 years and older, regardless of work hours, was $34,331 for males and $19,117 for females.
- In Deposit town, among full-time, year-round workers aged 15 years and older, males earned a median income of $58,099, while females earned $42,561, leading to a 27% gender pay gap among full-time workers. This illustrates that women earn 73 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 Deposit town, the population is predominantly White, constituting 92.47% 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 $35,805.
- In Deposit town, White is both the largest group and the one with the highest median household income, which stands at $35,805.
- In Deposit town, the median household income for the households where the householder is White decreased by $16,090(31%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,895 in 2011 and $35,805 in 2021.
- In Deposit town, the median household income for Black or African American households was $24,050 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Deposit Town, New York median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Deposit town decreased by $11,523 (24.84%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2012 to 2013, when the median household income increased by 4,392 (from $49,851 to $54,243). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 8,621 (from $52,608 to $43,987).
- It then further increased to $67,962 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5466, it is evident that income distribution in Deposit Town, New York exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $55,847. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $23,570.
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