Age of householder
Per the latest American Community Survey by the Census Bureau, Elmwood Place sees its highest median household income among householders in the age group of 45 to 64 years old, at $46,294. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Elmwood Place, the median household income stands at $46,294 for householders within the 45 to 64 years age group, followed by $42,505 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 $35,130.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $7,772(22.38%), escalating from a median of $34,733 in 2011 to $42,505 in 2021.
- 8(1.07%) households where the householder is under 25 years old.
- 209(27.98%) households with a householder aged between 25 and 44 years.
- 300(40.16%) households with a householder aged between 45 and 64 years.
- 230(30.79%) households where the householder is over 65 years old.
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Gender
In Elmwood Place, the population consists of 1,142 males (51.56%) and 1,073 females (48.44%). Here are the primary highlights from the gender-based income distribution analysis:
- In Elmwood Place, the median income for all workers aged 15 years and older, regardless of work hours, was $30,556 for males and $11,086 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $46,175 for males and $46,291 for females.
- In Elmwood Place, the median income for all workers aged 15 years and older, regardless of work hours, was $30,556 for males and $11,086 for females.
- In Elmwood Place, for all full-time workers aged 15 years and older, the median income was equal at, $46,291 for both males and females. This indicates a gender income balance in Elmwood Place, where both men and women, in full-time year-round roles, earn an equal income.
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Race
In Elmwood Place, the population is predominantly White, constituting 76.98% 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 $37,095.
- In Elmwood Place, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $49,992. This reveals that, while Whites may be the most numerous in Elmwood Place, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Elmwood Place, the median household income for the households where the householder is White increased by $4,610(14.19%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $32,485 in 2011 and $37,095 in 2021.
- In Elmwood Place, the median household income for the households where the householder is Black or African American increased by $17,128(65.89%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $25,996 in 2011 and $43,124 in 2021.
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Year by year
Elmwood Place, OH median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Elmwood Place increased by $9,084 (28.83%), 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 2014 to 2015, when the median household income increased by 8,726 (from $25,490 to $34,216). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 4,676 (from $32,587 to $27,911).
- It then further increased to $46,277 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4446, it is evident that income distribution in Elmwood Place, OH exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $55,274. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $20,640.
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