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 $33,779. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Georgetown, where there exist only two delineated age groups, the median household income is $33,779 for householders within the 65 years and over age group, compared to $28,180 for the 25 to 44 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $13,937(97.85%), escalating from a median of $14,243 in 2011 to $28,180 in 2021.
- 0 households where the householder is under 25 years old.
- 28(22.76%) households with a householder aged between 25 and 44 years.
- 66(53.66%) households with a householder aged between 45 and 64 years.
- 29(23.58%) households where the householder is over 65 years old.
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Gender
In Georgetown, the population consists of 120 males (48.39%) and 128 females (51.61%). Here are the primary highlights from the gender-based income distribution analysis:
- In Georgetown, while the Census reported a median income of $10,134 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,640 for males and $55,397 for females.
- In Georgetown, while the Census reported a median income of $10,134 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- In Georgetown, among full-time, year-round workers aged 15 years and older, males earned a median income of $53,640, while females earned $55,397
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Race
In Georgetown, the population is predominantly White, constituting 54.84% 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 $38,283.
- In Georgetown, White is both the largest group and the one with the highest median household income, which stands at $38,283.
- In Georgetown, the median household income for the households where the householder is White decreased by $12,795(25.05%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,078 in 2011 and $38,283 in 2021.
- In Georgetown, the median household income for the households where the householder is Black or African American decreased by $3,238(23.50%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $13,777 in 2011 and $10,539 in 2021.
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Year by year
Georgetown, MS 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 $7,022 (20.51%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2013 to 2014, when the median household income increased by 10,342 (from $31,542 to $41,884). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 11,567 (from $47,736 to $36,169).
- It then further increased to $57,829 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5469, it is evident that income distribution in Georgetown, MS exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $34,319. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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