Age of householder
Per the latest American Community Survey by the Census Bureau, Grace township sees its highest median household income among householders in the age group of 45 to 64 years old, at $83,095. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Grace township, the median household income stands at $83,095 for householders within the 45 to 64 years age group, followed by $71,610 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $60,801.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $34,344(92.16%), escalating from a median of $37,266 in 2011 to $71,610 in 2021.
- 3(12%) households where the householder is under 25 years old.
- 3(12%) households with a householder aged between 25 and 44 years.
- 11(44%) households with a householder aged between 45 and 64 years.
- 8(32%) households where the householder is over 65 years old.
Read more about Grace Township, Minnesota median household income by age ➔
Gender
In Grace township, the population consists of 27 males (48.21%) and 29 females (51.79%). Here are the primary highlights from the gender-based income distribution analysis:
- In Grace township, the median income for all workers aged 15 years and older, regardless of work hours, was $58,099 for males and $14,863 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $56,411 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Grace township, the median income for all workers aged 15 years and older, regardless of work hours, was $58,099 for males and $14,863 for females.
- In Grace township, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $56,411 for males, while data for females was unavailable due to an insufficient number of sample observations.
Read more about Grace Township, Minnesota income by gender ➔
Race
In Grace township, the population is predominantly White, constituting 98.21% 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 $71,610.
- In Grace township, White is both the largest group and the one with the highest median household income, which stands at $71,610.
- In Grace township, the median household income for the households where the householder is White increased by $8,955(14.29%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $62,655 in 2011 and $71,610 in 2021.
- As per the U.S. Census Bureau population data, in Grace 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.
Read more about Grace Township, Minnesota median household income by race ➔
Year by year
Grace Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Grace township increased by $7,180 (11.51%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2011 to 2012, when the median household income increased by 25,400 (from $62,655 to $88,055). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 20,073 (from $90,422 to $70,349).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.3988, it is evident that income distribution in Grace Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,079.
Read more about Grace Township, Minnesota median household income ➔