Grundy, VA Income

The inflation-adjusted median household income in Grundy was $50,161, based on U.S. Census Bureau ACS estimates.
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Updated Dec 15, 2023
Overview
$50,161
Median household income
0.462
Gini coefficient
45 to 64 years ($65,977)
Highest median income age group
$197,443
Income of top 5%

All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates

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.
The bar chart shows Grundy, VA median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
Grundy, VA median household income by age of householder: It offers a clear illustration of the differences in median household incomes in Grundy, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Grundy, VA median household income by age ➔

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.
Line chart showing the annual median income trends in Grundy, VA for males and females across four employment categories: (1) Males in full-time year-round positions, (2) Males in non-full-time roles (part-time and other employment types), (3) Females in full-time year-round positions, and (4) Females in non-full-time roles (part-time and other employment types).
Grundy, VA gender based income disparity: Gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals, in 2022 inflation adjusted dollars. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

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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.
The bar chart shows Grundy, VA median household income across all racial categories identified by the U.S. Census Bureau.
Grundy, VA median household income diversity across racial categories: Gain insights into economic disparities and trends and explore the variations in median houshold income for diverse racial categories. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

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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.
The line chart shows Grundy, VA median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Grundy, VA median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Grundy, VA median household income ➔

References

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Grundy, VA Demographics

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Median household income of places that contain Grundy (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)

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