Age of householder
Per the latest American Community Survey by the Census Bureau, Geneva-On-The-Lake sees its highest median household income among householders in the age group of 25 to 44 years old, at $59,307. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Geneva-On-The-Lake, the median household income stands at $59,307 for householders within the 25 to 44 years age group, followed by $48,467 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 $30,787.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $17,628(42.29%), escalating from a median of $41,679 in 2011 to $59,307 in 2021.
- 15(3.05%) households where the householder is under 25 years old.
- 60(12.22%) households with a householder aged between 25 and 44 years.
- 222(45.21%) households with a householder aged between 45 and 64 years.
- 194(39.51%) households where the householder is over 65 years old.
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Gender
In Geneva-On-The-Lake, the population consists of 476 males (51.18%) and 454 females (48.82%). Here are the primary highlights from the gender-based income distribution analysis:
- In Geneva-On-The-Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $39,306 for males and $30,671 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $56,748 for males and $45,151 for females.
- In Geneva-On-The-Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $39,306 for males and $30,671 for females.
- In Geneva-On-The-Lake, among full-time, year-round workers aged 15 years and older, males earned a median income of $56,748, while females earned $45,151, 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 Geneva-On-The-Lake, the population is predominantly White, constituting 90.43% 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 $47,463.
- In Geneva-On-The-Lake, White is both the largest group and the one with the highest median household income, which stands at $47,463.
- In Geneva-On-The-Lake, the median household income for the households where the householder is White increased by $15,497(48.48%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $31,966 in 2011 and $47,463 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
Geneva-On-The-Lake, OH median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Geneva-On-The-Lake increased by $13,640 (40.62%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 7,645 (from $39,576 to $47,221). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 5,904 (from $45,480 to $39,576).
- It then further increased to $60,801 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4726, it is evident that income distribution in Geneva-On-The-Lake, OH exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $77,353. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $35,389.
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