Age of householder
Per the latest American Community Survey by the Census Bureau, Fall River County sees its highest median household income among householders in the age group of 25 to 44 years old, at $87,426. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Fall River County, the median household income stands at $87,426 for householders within the 25 to 44 years age group, followed by $59,847 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 $47,560.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $17,776(59.68%), escalating from a median of $29,784 in 2011 to $47,560 in 2021.
- 97(3.08%) households where the householder is under 25 years old.
- 496(15.75%) households with a householder aged between 25 and 44 years.
- 1,358(43.12%) households with a householder aged between 45 and 64 years.
- 1,198(38.04%) households where the householder is over 65 years old.
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Gender
In Fall River County, the population consists of 3,647 males (52.26%) and 3,332 females (47.74%). Here are the primary highlights from the gender-based income distribution analysis:
- In Fall River County, the median income for all workers aged 15 years and older, regardless of work hours, was $34,566 for males and $22,495 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $57,663 for males and $57,935 for females.
- In Fall River County, the median income for all workers aged 15 years and older, regardless of work hours, was $34,566 for males and $22,495 for females.
- In Fall River County, for all full-time workers aged 15 years and older, the median income was equal at, $57,935 for both males and females. This indicates a gender income balance in Fall River County, where both men and women, in full-time year-round roles, earn an equal income.
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Race
In Fall River County, the population is predominantly White, constituting 84.74% 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 $60,890.
- In Fall River County, White is both the largest group and the one with the highest median household income, which stands at $60,890.
- In Fall River County, the median household income for the households where the householder is White increased by $11,936(24.38%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $48,954 in 2011 and $60,890 in 2021.
- As per the U.S. Census Bureau population data, in Fall River County, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
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Year by year
Fall River County, SD median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Fall River County increased by $6,785 (14.03%), 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 2013 to 2014, when the median household income increased by 6,136 (from $47,524 to $53,660). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 3,090 (from $58,224 to $55,134).
- It then further increased to $77,934 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4089, it is evident that income distribution in Fall River County, SD exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $69,868. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $35,841.
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