Age of householder
Per the latest American Community Survey by the Census Bureau, Dracut town sees its highest median household income among householders in the age group of 25 to 44 years old, at $126,907. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Dracut town, the median household income stands at $126,907 for householders within the 25 to 44 years age group, followed by $124,285 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $45,128.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $18,768(17.79%), escalating from a median of $105,517 in 2011 to $124,285 in 2021.
- 46(0.37%) households where the householder is under 25 years old.
- 3,710(29.99%) households with a householder aged between 25 and 44 years.
- 5,251(42.45%) households with a householder aged between 45 and 64 years.
- 3,363(27.19%) households where the householder is over 65 years old.
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Gender
In Dracut town, the population consists of 16,013 males (49.49%) and 16,343 females (50.51%). Here are the primary highlights from the gender-based income distribution analysis:
- In Dracut town, the median income for all workers aged 15 years and older, regardless of work hours, was $60,465 for males and $38,377 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $79,902 for males and $69,533 for females.
- In Dracut town, the median income for all workers aged 15 years and older, regardless of work hours, was $60,465 for males and $38,377 for females.
- In Dracut town, among full-time, year-round workers aged 15 years and older, males earned a median income of $79,902, while females earned $69,533, resulting in a 13% gender pay gap among full-time workers. This illustrates that women earn 87 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 town of Dracut town.
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Race
In Dracut town, the population is predominantly White, constituting 87.04% 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 $102,274.
- In Dracut town, 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 $184,029. This reveals that, while Whites may be the most numerous in Dracut town, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Dracut town, the median household income for the households where the householder is White increased by $8,306(8.84%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $93,968 in 2011 and $102,274 in 2021.
- In Dracut town, the median household income for the households where the householder is Black or African American decreased by $34,204(28.76%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $118,948 in 2011 and $84,744 in 2021.
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Year by year
Dracut, Massachusetts median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Dracut town increased by $7,360 (7.70%), 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 9,616 (from $96,444 to $106,060). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 3,334 (from $98,626 to $95,292).
- It then further increased to $189,996 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3985, it is evident that income distribution in Dracut, Massachusetts exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $122,217. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $53,651.
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