Age of householder
Per the latest American Community Survey by the Census Bureau, Gary sees its highest median household income among householders in the age group of 45 to 64 years old, at $46,684. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Gary, householders within the 45 to 64 years age group have the highest median household income at $46,684, followed by those in the 65 years and over age group with an income of $38,152. Meanwhile householders within the under 25 years age group report the second lowest median household income of $24,230. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $22,834.
- Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $10,747(79.71%), escalating from a median of $13,483 in 2012 to $24,230 in 2022.
- 1,876(6.68%) households where the householder is under 25 years old.
- 7,310(26.02%) households with a householder aged between 25 and 44 years.
- 10,091(35.92%) households with a householder aged between 45 and 64 years.
- 8,813(31.37%) households where the householder is over 65 years old.
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Gender
In Gary, the population consists of 31,933 males (45.79%) and 37,806 females (54.21%). Here are the primary highlights from the gender-based income distribution analysis:
- In Gary, the median income for all workers aged 15 years and older, regardless of work hours, was $27,518 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 $50,327 for males and $40,059 for females.
- In Gary, the median income for all workers aged 15 years and older, regardless of work hours, was $27,518 for males and $23,049 for females.
- In Gary, among full-time, year-round workers aged 15 years and older, males earned a median income of $50,327, while females earned $40,059, leading to a 20% gender pay gap among full-time workers. This illustrates that women earn 80 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Gary, the population is predominantly Black or African American, constituting 78.03% 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 $32,958.
- In Gary, despite the Black or African American population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $57,100. This reveals that, while Black or African Americans may be the most numerous in Gary, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Gary, the median household income for the households where the householder is White increased by $7,896(21.50%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $36,734 in 2012 and $44,630 in 2022.
- In Gary, the median household income for the households where the householder is Black or African American increased by $2,093(6.78%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $30,865 in 2012 and $32,958 in 2022.
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Year by year
Gary, IN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Gary decreased by $729 (1.94%), 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 2020 to 2021, when the median household income increased by 1,359 (from $35,484 to $36,843). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 1,696 (from $36,221 to $34,525).
- It then further increased to $153,140 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5219, it is evident that income distribution in Gary, IN exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $44,467. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $26,159.
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