Age of householder
Per the latest American Community Survey by the Census Bureau, Hamden township sees its highest median household income among householders in the age group of 65 years and over old, at $87,824. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Hamden township, where there exist only two delineated age groups, the median household income is $87,824 for householders within the 65 years and over age group, compared to $85,122 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $60,855(225.65%), escalating from a median of $26,969 in 2011 to $87,824 in 2021.
- 2(2.33%) households where the householder is under 25 years old.
- 22(25.58%) households with a householder aged between 25 and 44 years.
- 38(44.19%) households with a householder aged between 45 and 64 years.
- 24(27.91%) households where the householder is over 65 years old.
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Gender
In Hamden township, the population consists of 104 males (49.52%) and 106 females (50.48%). Here are the primary highlights from the gender-based income distribution analysis:
- In Hamden township, the median income for all workers aged 15 years and older, regardless of work hours, was $44,516 for males and $34,319 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $39,014 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Hamden township, the median income for all workers aged 15 years and older, regardless of work hours, was $44,516 for males and $34,319 for females.
- In Hamden township, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $39,014 for females, while data for males was unavailable due to an insufficient number of sample observations.
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Race
In Hamden township, the population is predominantly White, constituting 96.19% 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 $85,009.
- In Hamden township, White is both the largest group and the one with the highest median household income, which stands at $85,009.
- In Hamden township, the median household income for the households where the householder is White increased by $11,458(15.58%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $73,551 in 2011 and $85,009 in 2021.
- As per the U.S. Census Bureau population data, in Hamden township, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
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Year by year
Hamden Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Hamden township increased by $16,139 (23.43%), 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 2018 to 2019, when the median household income increased by 13,154 (from $67,221 to $80,375). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 13,618 (from $80,839 to $67,221).
- It then further increased to $128,358 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3483, it is evident that income distribution in Hamden Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $30,851.
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