Age of householder
Per the latest American Community Survey by the Census Bureau, Fayette sees its highest median household income among householders in the age group of 65 years and over old, at $30,081. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Fayette, where there exist only two delineated age groups, the median household income is $30,081 for householders within the 65 years and over age group, compared to $18,057 for the 25 to 44 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $8,267(37.90%), escalating from a median of $21,814 in 2011 to $30,081 in 2021.
- 16(2.85%) households where the householder is under 25 years old.
- 199(35.47%) households with a householder aged between 25 and 44 years.
- 219(39.04%) households with a householder aged between 45 and 64 years.
- 127(22.64%) households where the householder is over 65 years old.
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Gender
In Fayette, the population consists of 733 males (45.73%) and 870 females (54.27%). Here are the primary highlights from the gender-based income distribution analysis:
- In Fayette, the median income for all workers aged 15 years and older, regardless of work hours, was $22,632 for males and $17,728 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $30,401 for males and $35,468 for females.
- In Fayette, the median income for all workers aged 15 years and older, regardless of work hours, was $22,632 for males and $17,728 for females.
- In Fayette, among full-time, year-round workers aged 15 years and older, males earned a median income of $30,401, while females earned $35,468
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Race
In Fayette, the population is predominantly Black or African American, constituting 99.25% 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 $24,610.
- In Fayette, Black or African American is both the largest group and the one with the highest median household income, which stands at $24,610.
- As per the U.S. Census Bureau population data, in Fayette, there are no households where the householder is White; thus, the median household income for the White population is not applicable.
- In Fayette, the median household income for the households where the householder is Black or African American increased by $3,859(18.60%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $20,751 in 2011 and $24,610 in 2021.
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Year by year
Fayette, MS median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Fayette increased by $6,102 (32.83%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2012 to 2013, when the median household income increased by 2,939 (from $21,880 to $24,819). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 3,703 (from $23,806 to $20,103).
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- With a Gini coefficient of 0.5502, it is evident that income distribution in Fayette, MS exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $25,126. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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