Age of householder
Per the latest American Community Survey by the Census Bureau, Great Neck sees its highest median household income among householders in the age group of 45 to 64 years old, at $128,878. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Great Neck, the median household income stands at $128,878 for householders within the 45 to 64 years age group, followed by $105,819 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 $102,599.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $41,566(64.69%), escalating from a median of $64,253 in 2011 to $105,819 in 2021.
- 0 households where the householder is under 25 years old.
- 1,034(31.50%) households with a householder aged between 25 and 44 years.
- 1,190(36.25%) households with a householder aged between 45 and 64 years.
- 1,059(32.26%) households where the householder is over 65 years old.
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Gender
In Great Neck, the population consists of 5,855 males (53.06%) and 5,179 females (46.94%). Here are the primary highlights from the gender-based income distribution analysis:
- In Great Neck, the median income for all workers aged 15 years and older, regardless of work hours, was $80,454 for males and $37,673 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $94,258 for males and $99,936 for females.
- In Great Neck, the median income for all workers aged 15 years and older, regardless of work hours, was $80,454 for males and $37,673 for females.
- In Great Neck, among full-time, year-round workers aged 15 years and older, males earned a median income of $94,258, while females earned $99,936
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Race
In Great Neck, the population is predominantly White, constituting 76.86% 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 $112,708.
- In Great Neck, 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 $241,554. This reveals that, while Whites may be the most numerous in Great Neck, Asian households experience greater economic prosperity in terms of median household income.
- In Great Neck, the median household income for the households where the householder is White increased by $8,180(7.83%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $104,528 in 2011 and $112,708 in 2021.
- In Great Neck, the median household income for Black or African American households was $114,413 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Great Neck, NY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Great Neck increased by $10,172 (9.57%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 10,485 (from $101,487 to $111,972). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 10,772 (from $112,259 to $101,487).
- It then further increased to $129,958 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5164, it is evident that income distribution in Great Neck, NY exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $127,612. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $84,559.
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