Age of householder
Per the latest American Community Survey by the Census Bureau, Graymoor-Devondale sees its highest median household income among householders in the age group of 25 to 44 years old, at $103,062. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Graymoor-Devondale, householders within the 25 to 44 years age group have the highest median household income at $103,062, followed by those in the 45 to 64 years age group with an income of $97,527. Meanwhile householders within the under 25 years age group report the second lowest median household income of $64,363. Notably, householders within the 65 years and over age group, had the lowest median household income at $59,113.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $3,868(7%), escalating from a median of $55,245 in 2011 to $59,113 in 2021.
- 40(3.18%) households where the householder is under 25 years old.
- 383(30.45%) households with a householder aged between 25 and 44 years.
- 384(30.52%) households with a householder aged between 45 and 64 years.
- 451(35.85%) households where the householder is over 65 years old.
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Gender
In Graymoor-Devondale, the population consists of 1,238 males (42.90%) and 1,648 females (57.10%). Here are the primary highlights from the gender-based income distribution analysis:
- In Graymoor-Devondale, the median income for all workers aged 15 years and older, regardless of work hours, was $53,531 for males and $35,719 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $75,376 for males and $61,750 for females.
- In Graymoor-Devondale, the median income for all workers aged 15 years and older, regardless of work hours, was $53,531 for males and $35,719 for females.
- In Graymoor-Devondale, among full-time, year-round workers aged 15 years and older, males earned a median income of $75,376, while females earned $61,750, leading to a 18% gender pay gap among full-time workers. This illustrates that women earn 82 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 Graymoor-Devondale, the population is predominantly White, constituting 90.12% 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 $78,141.
- In Graymoor-Devondale, 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 $189,328. This reveals that, while Whites may be the most numerous in Graymoor-Devondale, Asian households experience greater economic prosperity in terms of median household income.
- In Graymoor-Devondale, the median household income for the households where the householder is White decreased by $8,244(9.54%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $86,385 in 2011 and $78,141 in 2021.
- In Graymoor-Devondale, the median household income for the households where the householder is Black or African American decreased by $17,167(23.34%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $73,551 in 2011 and $56,384 in 2021.
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Year by year
Graymoor-Devondale, KY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Graymoor-Devondale increased by $1,832 (2.28%), 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 2018 to 2019, when the median household income increased by 12,085 (from $75,746 to $87,831). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 8,739 (from $81,276 to $72,537).
- It then further increased to $131,331 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4132, it is evident that income distribution in Graymoor-Devondale, KY exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $108,583. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $48,005.
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