Age of householder
Per the latest American Community Survey by the Census Bureau, Fort Deposit sees its highest median household income among householders in the age group of 25 to 44 years old, at $84,296. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Fort Deposit, where there exist only two delineated age groups, the median household income is $84,296 for householders within the 25 to 44 years age group, compared to $20,978 for the 65 years and over age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $43,543(106.85%), escalating from a median of $40,753 in 2011 to $84,296 in 2021.
- 14(2.24%) households where the householder is under 25 years old.
- 143(22.92%) households with a householder aged between 25 and 44 years.
- 292(46.79%) households with a householder aged between 45 and 64 years.
- 175(28.04%) households where the householder is over 65 years old.
Read more about Fort Deposit, AL median household income by age ➔
Gender
In Fort Deposit, the population consists of 939 males (49.45%) and 960 females (50.55%). Here are the primary highlights from the gender-based income distribution analysis:
- In Fort Deposit, the median income for all workers aged 15 years and older, regardless of work hours, was $27,115 for males and $13,345 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $37,958 for males and $36,030 for females.
- In Fort Deposit, the median income for all workers aged 15 years and older, regardless of work hours, was $27,115 for males and $13,345 for females.
- In Fort Deposit, among full-time, year-round workers aged 15 years and older, males earned a median income of $37,958, while females earned $36,030, resulting in a 5% gender pay gap among full-time workers. This illustrates that women earn 95 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Fort Deposit.
Read more about Fort Deposit, AL income by gender ➔
Race
In Fort Deposit, the population is predominantly Black or African American, constituting 84.36% 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 $20,729.
- In Fort Deposit, 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 $51,682. This reveals that, while Black or African Americans may be the most numerous in Fort Deposit, White households experience greater economic prosperity in terms of median household income.
- In Fort Deposit, the median household income for the households where the householder is White decreased by $22,166(30.02%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $73,848 in 2011 and $51,682 in 2021.
- In Fort Deposit, the median household income for the households where the householder is Black or African American decreased by $11,864(36.40%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $32,593 in 2011 and $20,729 in 2021.
Read more about Fort Deposit, AL median household income by race ➔
Year by year
Fort Deposit, AL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Fort Deposit decreased by $11,954 (29.53%), 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 2016 to 2017, when the median household income increased by 11,133 (from $29,558 to $40,691). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 17,687 (from $46,211 to $28,524).
- It then further increased to $89,378 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4805, it is evident that income distribution in Fort Deposit, AL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $47,290. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $15,176.
Read more about Fort Deposit, AL median household income ➔