Age of householder
Per the latest American Community Survey by the Census Bureau, Granite Quarry sees its highest median household income among householders in the age group of 25 to 44 years old, at $54,772. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Granite Quarry, where there exist only two delineated age groups, the median household income is $54,772 for householders within the 25 to 44 years age group, compared to $41,091 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $3,040(6.89%), declining from a median of $44,131 in 2011 to $41,091 in 2021.
- 30(2.81%) households where the householder is under 25 years old.
- 456(42.70%) households with a householder aged between 25 and 44 years.
- 304(28.46%) households with a householder aged between 45 and 64 years.
- 278(26.03%) households where the householder is over 65 years old.
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Gender
In Granite Quarry, the population consists of 1,200 males (40.31%) and 1,777 females (59.69%). Here are the primary highlights from the gender-based income distribution analysis:
- In Granite Quarry, the median income for all workers aged 15 years and older, regardless of work hours, was $35,923 for males and $22,921 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $70,905 for males and $36,562 for females.
- In Granite Quarry, the median income for all workers aged 15 years and older, regardless of work hours, was $35,923 for males and $22,921 for females.
- In Granite Quarry, among full-time, year-round workers aged 15 years and older, males earned a median income of $70,905, while females earned $36,562, leading to a 48% gender pay gap among full-time workers. This illustrates that women earn 52 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 Granite Quarry, the population is predominantly White, constituting 94.02% 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 $47,909.
- In Granite Quarry, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $74,154. This reveals that, while Whites may be the most numerous in Granite Quarry, Black or African American households experience greater economic prosperity in terms of median household income.
- In Granite Quarry, the median household income for the households where the householder is White decreased by $23,533(32.94%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $71,442 in 2011 and $47,909 in 2021.
- In Granite Quarry, the median household income for the households where the householder is Black or African American increased by $62,713(548.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $11,441 in 2011 and $74,154 in 2021.
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Year by year
Granite Quarry, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Granite Quarry decreased by $18,953 (28.04%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 4,217 (from $56,178 to $60,395). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 5,830 (from $66,911 to $61,081).
- It then further increased to $90,827 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4177, it is evident that income distribution in Granite Quarry, NC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $55,271. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $34,922.
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