Age of householder
Per the latest American Community Survey by the Census Bureau, Essex Junction sees its highest median household income among householders in the age group of 45 to 64 years old, at $103,909. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Essex Junction, householders within the 45 to 64 years age group have the highest median household income at $103,909, followed by those in the 65 years and over age group with an income of $78,861. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $78,603. Notably, householders within the under 25 years age group, had the lowest median household income at $65,291.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $29,469(59.66%), escalating from a median of $49,392 in 2011 to $78,861 in 2021.
- 147(3.27%) households where the householder is under 25 years old.
- 1,759(39.08%) households with a householder aged between 25 and 44 years.
- 1,631(36.24%) households with a householder aged between 45 and 64 years.
- 964(21.42%) households where the householder is over 65 years old.
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Gender
In Essex Junction, the population consists of 5,208 males (49.73%) and 5,265 females (50.27%). Here are the primary highlights from the gender-based income distribution analysis:
- In Essex Junction, the median income for all workers aged 15 years and older, regardless of work hours, was $50,665 for males and $38,536 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $61,199 for males and $65,580 for females.
- In Essex Junction, the median income for all workers aged 15 years and older, regardless of work hours, was $50,665 for males and $38,536 for females.
- In Essex Junction, among full-time, year-round workers aged 15 years and older, males earned a median income of $61,199, while females earned $65,580
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Race
In Essex Junction, the population is predominantly White, constituting 83.75% 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 $91,479.
- In Essex Junction, 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 $119,640. This reveals that, while Whites may be the most numerous in Essex Junction, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Essex Junction, the median household income for the households where the householder is White increased by $7,232(8.58%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $84,247 in 2011 and $91,479 in 2021.
- In Essex Junction, the median household income for the households where the householder is Black or African American decreased by $119,757(66.38%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $180,405 in 2011 and $60,648 in 2021.
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Year by year
Essex Junction, VT median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Essex Junction increased by $4,290 (5.24%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 12,705 (from $66,958 to $79,663). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 7,695 (from $78,934 to $71,239).
- It then further increased to $192,691 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4506, it is evident that income distribution in Essex Junction, VT exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $106,740. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $53,044.
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