Age of householder
Per the latest American Community Survey by the Census Bureau, Hancock town sees its highest median household income among householders in the age group of 45 to 64 years old, at $104,038. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Hancock town, the median household income stands at $104,038 for householders within the 45 to 64 years age group, followed by $102,146 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $66,431.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $7,020(7.38%), escalating from a median of $95,126 in 2011 to $102,146 in 2021.
- 27(3.43%) households where the householder is under 25 years old.
- 60(7.62%) households with a householder aged between 25 and 44 years.
- 361(45.87%) households with a householder aged between 45 and 64 years.
- 339(43.07%) households where the householder is over 65 years old.
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Gender
In Hancock town, the population consists of 821 males (48.10%) and 886 females (51.90%). Here are the primary highlights from the gender-based income distribution analysis:
- In Hancock town, the median income for all workers aged 15 years and older, regardless of work hours, was $55,225 for males and $30,026 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $56,721 for males and $60,158 for females.
- In Hancock town, the median income for all workers aged 15 years and older, regardless of work hours, was $55,225 for males and $30,026 for females.
- In Hancock town, among full-time, year-round workers aged 15 years and older, males earned a median income of $56,721, while females earned $60,158
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Race
In Hancock town, the population is predominantly White, constituting 96.07% 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 $82,504.
- In Hancock town, White is both the largest group and the one with the highest median household income, which stands at $82,504.
- In Hancock town, the median household income for the households where the householder is White decreased by $10,661(11.44%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $93,165 in 2011 and $82,504 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
Hancock, New Hampshire median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Hancock town decreased by $3,994 (4.61%), 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 7,591 (from $93,165 to $100,756). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 11,077 (from $98,993 to $87,916).
- It then further increased to $133,087 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4158, it is evident that income distribution in Hancock, New Hampshire exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $107,236. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $51,043.
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