Age of householder
Per the latest American Community Survey by the Census Bureau, Georgetown sees its highest median household income among householders in the age group of 65 years and over old, at $48,491. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Georgetown, the median household income stands at $48,491 for householders within the 65 years and over age group, followed by $45,905 for the 25 to 44 years age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $39,344.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $3,704(8.78%), escalating from a median of $42,201 in 2011 to $45,905 in 2021.
- 89(3.44%) households where the householder is under 25 years old.
- 964(37.23%) households with a householder aged between 25 and 44 years.
- 869(33.57%) households with a householder aged between 45 and 64 years.
- 667(25.76%) households where the householder is over 65 years old.
Read more about Georgetown, DE median household income by age ➔
Gender
In Georgetown, the population consists of 3,682 males (52.01%) and 3,397 females (47.99%). Here are the primary highlights from the gender-based income distribution analysis:
- In Georgetown, the median income for all workers aged 15 years and older, regardless of work hours, was $40,599 for males and $21,791 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $44,134 for males and $29,354 for females.
- In Georgetown, the median income for all workers aged 15 years and older, regardless of work hours, was $40,599 for males and $21,791 for females.
- In Georgetown, among full-time, year-round workers aged 15 years and older, males earned a median income of $44,134, while females earned $29,354, leading to a 33% gender pay gap among full-time workers. This illustrates that women earn 67 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 Georgetown, DE income by gender ➔
Race
In Georgetown, the population is predominantly White, constituting 68.67% 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 $45,434.
- In Georgetown, despite the White 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 $101,293. This reveals that, while Whites may be the most numerous in Georgetown, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Georgetown, the median household income for the households where the householder is White decreased by $19,507(30.04%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $64,941 in 2011 and $45,434 in 2021.
- In Georgetown, the median household income for Black or African American households was $24,415 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
Read more about Georgetown, DE median household income by race ➔
Year by year
Georgetown, DE median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Georgetown decreased by $12,272 (21.20%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 2 years and declined for 9 years.
- The most significant year-by-year growth occured from 2012 to 2013, when the median household income increased by 3,034 (from $57,458 to $60,492). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 8,125 (from $55,652 to $47,527).
- It then further increased to $102,799 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4042, it is evident that income distribution in Georgetown, DE exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $48,569. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $26,973.
Read more about Georgetown, DE median household income ➔