Age of householder
Per the latest American Community Survey by the Census Bureau, Grant Valley township sees its highest median household income among householders in the age group of 25 to 44 years old, at $94,334. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Grant Valley township, householders within the 25 to 44 years age group have the highest median household income at $94,334, followed by those in the under 25 years age group with an income of $63,233. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $58,400. Notably, householders within the 65 years and over age group, had the lowest median household income at $43,056.
- Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $39,013(161.08%), escalating from a median of $24,220 in 2011 to $63,233 in 2021.
- 32(4.10%) households where the householder is under 25 years old.
- 328(42%) households with a householder aged between 25 and 44 years.
- 255(32.65%) households with a householder aged between 45 and 64 years.
- 166(21.25%) households where the householder is over 65 years old.
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Gender
In Grant Valley township, the population consists of 1,009 males (49.15%) and 1,044 females (50.85%). Here are the primary highlights from the gender-based income distribution analysis:
- In Grant Valley township, the median income for all workers aged 15 years and older, regardless of work hours, was $42,736 for males and $31,519 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,943 for males and $44,073 for females.
- In Grant Valley township, the median income for all workers aged 15 years and older, regardless of work hours, was $42,736 for males and $31,519 for females.
- In Grant Valley township, among full-time, year-round workers aged 15 years and older, males earned a median income of $58,943, while females earned $44,073, leading to a 25% gender pay gap among full-time workers. This illustrates that women earn 75 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 Grant Valley township, the population is predominantly White, constituting 93.57% 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 $66,083.
- In Grant Valley township, White is both the largest group and the one with the highest median household income, which stands at $66,083.
- In Grant Valley township, the median household income for the households where the householder is White decreased by $17,976(21.38%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $84,059 in 2011 and $66,083 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
Grant Valley Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Grant Valley township decreased by $8,968 (11.78%), 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 2017 to 2018, when the median household income increased by 10,499 (from $65,002 to $75,501). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 9,745 (from $79,288 to $69,543).
- It then further increased to $112,483 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3659, it is evident that income distribution in Grant Valley Township, Minnesota exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $77,390. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $39,933.
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