Age of householder
Per the latest American Community Survey by the Census Bureau, Gum Springs sees its highest median household income among householders in the age group of 65 years and over old, at $45,939. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Gum Springs, where there exist only two delineated age groups, the median household income is $45,939 for householders within the 65 years and over age group, compared to $36,346 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $17,754(95.49%), escalating from a median of $18,592 in 2011 to $36,346 in 2021.
- 5(9.80%) households where the householder is under 25 years old.
- 11(21.57%) households with a householder aged between 25 and 44 years.
- 29(56.86%) households with a householder aged between 45 and 64 years.
- 6(11.76%) households where the householder is over 65 years old.
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Gender
In Gum Springs, the population consists of 24 males (27.59%) and 63 females (72.41%). Here are the primary highlights from the gender-based income distribution analysis:
- In Gum Springs, the median income for all workers aged 15 years and older, regardless of work hours, was $29,274 for males and $36,616 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
- In Gum Springs, the median income for all workers aged 15 years and older, regardless of work hours, was $29,274 for males and $36,616 for females.
- In Gum Springs, for full-time, year-round workers aged 15 years and older, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
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Race
In Gum Springs, the population is predominantly Black or African American, constituting 77.01% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $37,427.
- In Gum Springs, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $62,693. This reveals that, while Black or African Americans may be the most numerous in Gum Springs, White households experience greater economic prosperity in terms of median household income.
- In Gum Springs, the median household income for the households where the householder is White increased by $38,176(155.71%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $24,517 in 2011 and $62,693 in 2021.
- In Gum Springs, the median household income for the households where the householder is Black or African American increased by $22,717(154.43%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $14,710 in 2011 and $37,427 in 2021.
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Year by year
Gum Springs, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Gum Springs increased by $21,166 (105.01%), 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 2011 to 2012, when the median household income increased by 17,276 (from $19,147 to $36,423). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 4,728 (from $32,069 to $27,341).
- It then further increased to $42,020 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2058, it is evident that income distribution in Gum Springs, AR exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $173,115.
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