Age of householder
Per the latest American Community Survey by the Census Bureau, Grand View-On-Hudson sees its highest median household income among householders in the age group of 45 to 64 years old, at $185,106. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Grand View-On-Hudson, where there exist only two delineated age groups, the median household income is $185,106 for householders within the 45 to 64 years age group, compared to $145,403 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $41,342(39.73%), escalating from a median of $104,061 in 2011 to $145,403 in 2021.
- 0 households where the householder is under 25 years old.
- 11(9.82%) households with a householder aged between 25 and 44 years.
- 56(50%) households with a householder aged between 45 and 64 years.
- 45(40.18%) households where the householder is over 65 years old.
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Gender
In Grand View-On-Hudson, the population consists of 109 males (45.23%) and 132 females (54.77%). Here are the primary highlights from the gender-based income distribution analysis:
- In Grand View-On-Hudson, the median income for all workers aged 15 years and older, regardless of work hours, was $117,549 for males and $41,885 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $128,809 for males and $91,202 for females.
- In Grand View-On-Hudson, the median income for all workers aged 15 years and older, regardless of work hours, was $117,549 for males and $41,885 for females.
- In Grand View-On-Hudson, among full-time, year-round workers aged 15 years and older, males earned a median income of $128,809, while females earned $91,202, leading to a 29% gender pay gap among full-time workers. This illustrates that women earn 71 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Grand View-On-Hudson, the population is predominantly White, constituting 90.87% 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 $144,883.
- In Grand View-On-Hudson, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $185,445. This reveals that, while Whites may be the most numerous in Grand View-On-Hudson, Asian households experience greater economic prosperity in terms of median household income.
- In Grand View-On-Hudson, the median household income for the households where the householder is White decreased by $59,426(29.09%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $204,309 in 2011 and $144,883 in 2021.
- As per the U.S. Census Bureau population data, in Grand View-On-Hudson, 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.
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Year by year
Grand View-On-Hudson, NY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Grand View-On-Hudson decreased by $48,243 (24.87%), 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 2018 to 2019, when the median household income increased by 20,020 (from $165,130 to $185,150). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 40,832 (from $185,150 to $144,318).
- It then further increased to $270,229 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4985, it is evident that income distribution in Grand View-On-Hudson, NY exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $185,106. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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