Age of householder
Per the latest American Community Survey by the Census Bureau, Gould township sees its highest median household income among householders in the age group of 45 to 64 years old, at $74,313. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Gould township, the median household income stands at $74,313 for householders within the 45 to 64 years age group, followed by $60,351 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $39,521.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $22,010(42.08%), escalating from a median of $52,303 in 2011 to $74,313 in 2021.
- 0 households where the householder is under 25 years old.
- 16(18.39%) households with a householder aged between 25 and 44 years.
- 38(43.68%) households with a householder aged between 45 and 64 years.
- 33(37.93%) households where the householder is over 65 years old.
Read more about Gould Township, Minnesota median household income by age ➔
Gender
In Gould township, the population consists of 148 males (55.22%) and 120 females (44.78%). Here are the primary highlights from the gender-based income distribution analysis:
- In Gould township, the median income for all workers aged 15 years and older, regardless of work hours, was $29,050 for males and $20,943 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $54,046 for males and $31,752 for females.
- In Gould township, the median income for all workers aged 15 years and older, regardless of work hours, was $29,050 for males and $20,943 for females.
- In Gould township, among full-time, year-round workers aged 15 years and older, males earned a median income of $54,046, while females earned $31,752, leading to a 41% gender pay gap among full-time workers. This illustrates that women earn 59 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.
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Race
In Gould township, the population is predominantly American Indian and Alaska Native, constituting 39.55% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for American Indian and Alaska Native households is $39,183.
- In Gould township, despite the American Indian and Alaska Native population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $61,140. This reveals that, while American Indian and Alaska Natives may be the most numerous in Gould township, White households experience greater economic prosperity in terms of median household income.
- In Gould township, the median household income for the households where the householder is White increased by $22,147(56.80%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $38,993 in 2011 and $61,140 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
Gould Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Gould township increased by $16,606 (42.08%), 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 2016 to 2017, when the median household income increased by 8,950 (from $48,311 to $57,261). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 11,960 (from $57,261 to $45,301).
- It then further increased to $68,008 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3706, it is evident that income distribution in Gould Township, Minnesota exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $59,901. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $20,267.
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