Goodridge Township, Minnesota Income

The inflation-adjusted median household income in Goodridge township was $134,101, based on U.S. Census Bureau ACS estimates.
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Updated Dec 15, 2023
Overview
$134,101
Median household income
0.2984
Gini coefficient
45 to 64 years ($143,761)
Highest median income age group
$NA
Income of top 5%

All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates

Age of householder

Per the latest American Community Survey by the Census Bureau, Goodridge township sees its highest median household income among householders in the age group of 45 to 64 years old, at $143,761. Here are the key highlights for income distribution by age:

  • In terms of income distribution across age cohorts, Goodridge township only reports a median household income of $143,761 among householders in the 45 to 64 years age group.
  • Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $67,387(88.23%), escalating from a median of $76,374 in 2011 to $143,761 in 2021.
  • 0 households where the householder is under 25 years old.
  • 4(16%) households with a householder aged between 25 and 44 years.
  • 18(72%) households with a householder aged between 45 and 64 years.
  • 3(12%) households where the householder is over 65 years old.
The bar chart shows Goodridge Township, Minnesota median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
Goodridge Township, Minnesota median household income by age of householder: It offers a clear illustration of the differences in median household incomes in Goodridge township, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Goodridge Township, Minnesota median household income by age ➔

Gender

In Goodridge township, the population consists of 45 males (45.92%) and 53 females (54.08%). Here are the primary highlights from the gender-based income distribution analysis:

  • In Goodridge township, the median income for all workers aged 15 years and older, regardless of work hours, was $44,137 for males and $29,725 for females.
  • However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $30,926 for females, while data for males was unavailable due to an insufficient number of sample observations.
  • In Goodridge township, the median income for all workers aged 15 years and older, regardless of work hours, was $44,137 for males and $29,725 for females.
  • In Goodridge township, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $30,926 for females, while data for males was unavailable due to an insufficient number of sample observations.
Line chart showing the annual median income trends in Goodridge Township, Minnesota for males and females across four employment categories: (1) Males in full-time year-round positions, (2) Males in non-full-time roles (part-time and other employment types), (3) Females in full-time year-round positions, and (4) Females in non-full-time roles (part-time and other employment types).
Goodridge Township, Minnesota gender based income disparity: Gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals, in 2022 inflation adjusted dollars. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Goodridge Township, Minnesota income by gender ➔

Race

In Goodridge township, the population is predominantly White, constituting 100% 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 $134,101.
  • In Goodridge township, White is both the largest group and the one with the highest median household income, which stands at $134,101.
  • In Goodridge township, the median household income for the households where the householder is White increased by $56,092(71.90%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $78,009 in 2011 and $134,101 in 2021.
  • As per the U.S. Census Bureau population data, in Goodridge township, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
The bar chart shows Goodridge Township, Minnesota median household income across all racial categories identified by the U.S. Census Bureau.
Goodridge Township, Minnesota median household income diversity across racial categories: Gain insights into economic disparities and trends and explore the variations in median houshold income for diverse racial categories. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Goodridge Township, Minnesota median household income by race ➔

Year by year

Goodridge Township, Minnesota median household income trends by year, family type and household size (2010-2021):

  • From 2010 to 2021, the median household income for Goodridge township increased by $53,987 (67.39%), 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 2017 to 2018, when the median household income increased by 45,424 (from $56,138 to $101,562). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 21,605 (from $75,899 to $54,294).
  • Additionally, the Census Bureau did not report a median household income for larger household sizes.
  • With a Gini coefficient of 0.2984, it is evident that income distribution in Goodridge Township, Minnesota exihibits characterstics of moderate equality .
  • NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $39,994.
The line chart shows Goodridge Township, Minnesota median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Goodridge Township, Minnesota median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Goodridge Township, Minnesota median household income ➔

References

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Median household income of places that contain Goodridge township (in 2022 dollars)
Insights for Goodridge township, by topic

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