Age of householder
Per the latest American Community Survey by the Census Bureau, Fairfield sees its highest median household income among householders in the age group of 45 to 64 years old, at $59,765. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Fairfield, the median household income stands at $59,765 for householders within the 45 to 64 years age group, followed by $55,908 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 $39,770.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $13,544(51.64%), escalating from a median of $26,226 in 2011 to $39,770 in 2021.
- 322(8.16%) households where the householder is under 25 years old.
- 1,111(28.17%) households with a householder aged between 25 and 44 years.
- 1,468(37.22%) households with a householder aged between 45 and 64 years.
- 1,043(26.45%) households where the householder is over 65 years old.
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Gender
In Fairfield, the population consists of 4,408 males (43.61%) and 5,700 females (56.39%). Here are the primary highlights from the gender-based income distribution analysis:
- In Fairfield, the median income for all workers aged 15 years and older, regardless of work hours, was $28,990 for males and $28,608 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $48,452 for males and $36,412 for females.
- In Fairfield, the median income for all workers aged 15 years and older, regardless of work hours, was $28,990 for males and $28,608 for females.
- In Fairfield, among full-time, year-round workers aged 15 years and older, males earned a median income of $48,452, while females earned $36,412, leading to a 25% gender pay gap among full-time workers. This illustrates that women earn 75 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 Fairfield, the population is predominantly Black or African American, constituting 92.17% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $47,468.
- In Fairfield, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $54,817. This reveals that, while Black or African Americans may be the most numerous in Fairfield, White households experience greater economic prosperity in terms of median household income.
- In Fairfield, the median household income for the households where the householder is White increased by $6,872(14.33%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $47,945 in 2011 and $54,817 in 2021.
- In Fairfield, the median household income for the households where the householder is Black or African American increased by $2,920(6.55%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $44,548 in 2011 and $47,468 in 2021.
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Year by year
Fairfield, AL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Fairfield increased by $1,265 (2.74%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 3,344 (from $40,023 to $43,367). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 3,201 (from $43,224 to $40,023).
- It then further increased to $76,475 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4168, it is evident that income distribution in Fairfield, AL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $56,513. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $28,492.
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