Age of householder
Per the latest American Community Survey by the Census Bureau, Hillsdale sees its highest median household income among householders in the age group of 25 to 44 years old, at $38,423. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Hillsdale, where there exist only two delineated age groups, the median household income is $38,423 for householders within the 25 to 44 years age group, compared to $32,427 for the 45 to 64 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $5,217(15.71%), escalating from a median of $33,206 in 2011 to $38,423 in 2021.
- 11(3.17%) households where the householder is under 25 years old.
- 159(45.82%) households with a householder aged between 25 and 44 years.
- 134(38.62%) households with a householder aged between 45 and 64 years.
- 43(12.39%) households where the householder is over 65 years old.
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Gender
In Hillsdale, the population consists of 415 males (44.43%) and 519 females (55.57%). Here are the primary highlights from the gender-based income distribution analysis:
- In Hillsdale, the median income for all workers aged 15 years and older, regardless of work hours, was $17,658 for males and $21,186 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $32,299 for males and $32,343 for females.
- In Hillsdale, the median income for all workers aged 15 years and older, regardless of work hours, was $17,658 for males and $21,186 for females.
- In Hillsdale, for all full-time workers aged 15 years and older, the median income was equal at, $32,343 for both males and females. This indicates a gender income balance in Hillsdale, where both men and women, in full-time year-round roles, earn an equal income.
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Race
In Hillsdale, the population is predominantly Black or African American, constituting 97.11% 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 $35,928.
- In Hillsdale, Black or African American is both the largest group and the one with the highest median household income, which stands at $35,928.
- In Hillsdale, the median household income for White households was $63,744 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- In Hillsdale, the median household income for the households where the householder is Black or African American increased by $7,082(24.55%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $28,846 in 2011 and $35,928 in 2021.
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Year by year
Hillsdale, MO median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Hillsdale increased by $5,043 (16.46%), 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 2020 to 2021, when the median household income increased by 3,205 (from $32,477 to $35,682). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 1,772 (from $29,332 to $27,560).
- It then further increased to $37,663 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3758, it is evident that income distribution in Hillsdale, MO exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $37,916. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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