Age of householder
Per the latest American Community Survey by the Census Bureau, Falling Spring sees its highest median household income among householders in the age group of 65 years and over old, at $48,641. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Falling Spring, where there exist only two delineated age groups, the median household income is $48,641 for householders within the 65 years and over age group, compared to $40,366 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $10,639(28%), escalating from a median of $38,002 in 2011 to $48,641 in 2021.
- 0 households where the householder is under 25 years old.
- 4(7.02%) households with a householder aged between 25 and 44 years.
- 35(61.40%) households with a householder aged between 45 and 64 years.
- 18(31.58%) households where the householder is over 65 years old.
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Gender
In Falling Spring, the population consists of 55 males (44.35%) and 69 females (55.65%). Here are the primary highlights from the gender-based income distribution analysis:
- In Falling Spring, the median income for all workers aged 15 years and older, regardless of work hours, was $28,599 for males and $18,105 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $49,992 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Falling Spring, the median income for all workers aged 15 years and older, regardless of work hours, was $28,599 for males and $18,105 for females.
- In Falling Spring, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $49,992 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Falling Spring, the population is predominantly White, constituting 100% 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 $40,422.
- In Falling Spring, White is both the largest group and the one with the highest median household income, which stands at $40,422.
- In Falling Spring, the median household income for the households where the householder is White increased by $1,509(3.88%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $38,913 in 2011 and $40,422 in 2021.
- As per the U.S. Census Bureau population data, in Falling Spring, 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
Falling Spring, WV median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Falling Spring decreased by $4,695 (10.41%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 28,323 (from $39,815 to $68,138). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 16,880 (from $73,767 to $56,887).
- It then further increased to $173,960 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4888, it is evident that income distribution in Falling Spring, WV exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $43,101.
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