Age of householder
Per the latest American Community Survey by the Census Bureau, Grundy sees its highest median household income among householders in the age group of 45 to 64 years old, at $65,977. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Grundy only reports a median household income of $65,977 among householders in the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $282(0.43%), declining from a median of $66,259 in 2011 to $65,977 in 2021.
- 16(3.76%) households where the householder is under 25 years old.
- 74(17.41%) households with a householder aged between 25 and 44 years.
- 158(37.18%) households with a householder aged between 45 and 64 years.
- 177(41.65%) households where the householder is over 65 years old.
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Gender
In Grundy, the population consists of 522 males (46.94%) and 590 females (53.06%). Here are the primary highlights from the gender-based income distribution analysis:
- In Grundy, the median income for all workers aged 15 years and older, regardless of work hours, was $21,167 for males and $38,213 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $43,728 for males and $40,341 for females.
- In Grundy, the median income for all workers aged 15 years and older, regardless of work hours, was $21,167 for males and $38,213 for females.
- In Grundy, among full-time, year-round workers aged 15 years and older, males earned a median income of $43,728, while females earned $40,341, resulting in a 8% gender pay gap among full-time workers. This illustrates that women earn 92 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Grundy.
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Race
In Grundy, the population is predominantly White, constituting 75% 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 $36,481.
- In Grundy, White is both the largest group and the one with the highest median household income, which stands at $36,481.
- In Grundy, the median household income for the households where the householder is White decreased by $13,461(26.95%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $49,942 in 2011 and $36,481 in 2021.
- In Grundy, the median household income for Black or African American households was $10,624 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
Grundy, VA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Grundy decreased by $9,039 (15.27%), 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 2019 to 2020, when the median household income increased by 7,907 (from $48,113 to $56,020). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 9,802 (from $59,200 to $49,398).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.462, it is evident that income distribution in Grundy, VA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $86,924. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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