Age of householder
Per the latest American Community Survey by the Census Bureau, Fayston town sees its highest median household income among householders in the age group of 45 to 64 years old, at $140,519. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Fayston town, the median household income stands at $140,519 for householders within the 45 to 64 years age group, followed by $113,496 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 $100,153.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $33,794(50.93%), escalating from a median of $66,359 in 2011 to $100,153 in 2021.
- 0 households where the householder is under 25 years old.
- 76(19.84%) households with a householder aged between 25 and 44 years.
- 194(50.65%) households with a householder aged between 45 and 64 years.
- 113(29.50%) households where the householder is over 65 years old.
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Gender
In Fayston town, the population consists of 444 males (46.54%) and 510 females (53.46%). Here are the primary highlights from the gender-based income distribution analysis:
- In Fayston town, the median income for all workers aged 15 years and older, regardless of work hours, was $73,453 for males and $41,998 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $104,578 for males and $56,540 for females.
- In Fayston town, the median income for all workers aged 15 years and older, regardless of work hours, was $73,453 for males and $41,998 for females.
- In Fayston town, among full-time, year-round workers aged 15 years and older, males earned a median income of $104,578, while females earned $56,540, leading to a 46% gender pay gap among full-time workers. This illustrates that women earn 54 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Fayston town, the population is predominantly White, constituting 99.16% 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 $117,918.
- In Fayston town, White is both the largest group and the one with the highest median household income, which stands at $117,918.
- In Fayston town, the median household income for the households where the householder is White increased by $9,062(8.32%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $108,856 in 2011 and $117,918 in 2021.
- As per the U.S. Census Bureau population data, in Fayston town, 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
Fayston, Vermont median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Fayston town increased by $27,960 (30.95%), 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 2019 to 2020, when the median household income increased by 18,923 (from $90,951 to $109,874). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 21,639 (from $108,529 to $86,890).
- It then further increased to $151,929 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4171, it is evident that income distribution in Fayston, Vermont exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $135,790. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $59,113.
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