Age of householder
Per the latest American Community Survey by the Census Bureau, Franklin township sees its highest median household income among householders in the age group of 25 to 44 years old, at $82,420. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Franklin township, the median household income stands at $82,420 for householders within the 25 to 44 years age group, followed by $68,973 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 $32,621.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $11,888(20.83%), escalating from a median of $57,085 in 2011 to $68,973 in 2021.
- 14(1.36%) households where the householder is under 25 years old.
- 230(22.29%) households with a householder aged between 25 and 44 years.
- 416(40.31%) households with a householder aged between 45 and 64 years.
- 372(36.05%) households where the householder is over 65 years old.
Read more about Franklin township, Fayette County, Pennsylvania median household income by age ➔
Gender
In Franklin township, the population consists of 1,280 males (52.37%) and 1,164 females (47.63%). Here are the primary highlights from the gender-based income distribution analysis:
- In Franklin township, the median income for all workers aged 15 years and older, regardless of work hours, was $45,016 for males and $23,049 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $64,380 for males and $40,166 for females.
- In Franklin township, the median income for all workers aged 15 years and older, regardless of work hours, was $45,016 for males and $23,049 for females.
- In Franklin township, among full-time, year-round workers aged 15 years and older, males earned a median income of $64,380, while females earned $40,166, leading to a 38% gender pay gap among full-time workers. This illustrates that women earn 62 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.
Read more about Franklin township, Fayette County, Pennsylvania income by gender ➔
Race
In Franklin township, the population is predominantly White, constituting 93.04% 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 $64,048.
- In Franklin township, White is both the largest group and the one with the highest median household income, which stands at $64,048.
- In Franklin township, the median household income for the households where the householder is White increased by $10,338(19.25%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $53,710 in 2011 and $64,048 in 2021.
- In Franklin township, the median household income for Black or African American households was $25,409 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Franklin township, Fayette County, Pennsylvania median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Franklin township increased by $11,405 (21.71%), 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 2013 to 2014, when the median household income increased by 10,590 (from $58,140 to $68,730). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 7,708 (from $71,405 to $63,697).
- It then further increased to $157,960 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3797, it is evident that income distribution in Franklin township, Fayette County, Pennsylvania exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $74,635. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $26,777.
Read more about Franklin township, Fayette County, Pennsylvania median household income ➔