Age of householder
Per the latest American Community Survey by the Census Bureau, Hickory township sees its highest median household income among householders in the age group of 65 years and over old, at $74,313. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Hickory township, where there exist only two delineated age groups, the median household income is $74,313 for householders within the 65 years and over age group, compared to $61,477 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 $39,989(116.50%), escalating from a median of $34,324 in 2011 to $74,313 in 2021.
- 0 households where the householder is under 25 years old.
- 9(24.32%) households with a householder aged between 25 and 44 years.
- 5(13.51%) households with a householder aged between 45 and 64 years.
- 23(62.16%) households where the householder is over 65 years old.
Read more about Hickory Township, Minnesota median household income by age ➔
Gender
In Hickory township, the population consists of 39 males (37.50%) and 65 females (62.50%). Here are the primary highlights from the gender-based income distribution analysis:
- In Hickory township, the median income for all workers aged 15 years and older, regardless of work hours, was $49,092 for males and $21,506 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $43,912 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Hickory township, the median income for all workers aged 15 years and older, regardless of work hours, was $49,092 for males and $21,506 for females.
- In Hickory township, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $43,912 for females, while data for males was unavailable due to an insufficient number of sample observations.
Read more about Hickory Township, Minnesota income by gender ➔
Race
In Hickory township, the population is predominantly White, constituting 100% 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 $61,477.
- In Hickory township, White is both the largest group and the one with the highest median household income, which stands at $61,477.
- In Hickory township, the median household income for the households where the householder is White increased by $12,034(24.34%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $49,443 in 2011 and $61,477 in 2021.
- As per the U.S. Census Bureau population data, in Hickory 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
Hickory Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Hickory township increased by $17,625 (40.19%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2013 to 2014, when the median household income increased by 26,514 (from $38,639 to $65,153). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 28,487 (from $75,881 to $47,394).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.3012, it is evident that income distribution in Hickory Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,028.
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