Age of householder
Per the latest American Community Survey by the Census Bureau, Holly Grove sees its highest median household income among householders in the age group of 45 to 64 years old, at $57,199. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Holly Grove only reports a median household income of $57,199 among householders in 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 $32,079(127.70%), escalating from a median of $25,120 in 2011 to $57,199 in 2021.
- 0 households where the householder is under 25 years old.
- 90(45%) households with a householder aged between 25 and 44 years.
- 53(26.50%) households with a householder aged between 45 and 64 years.
- 57(28.50%) households where the householder is over 65 years old.
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Gender
In Holly Grove, the population consists of 224 males (41.33%) and 318 females (58.67%). Here are the primary highlights from the gender-based income distribution analysis:
- In Holly Grove, the median income for all workers aged 15 years and older, regardless of work hours, was $34,550 for males and $12,774 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $63,811 for males and $38,944 for females.
- In Holly Grove, the median income for all workers aged 15 years and older, regardless of work hours, was $34,550 for males and $12,774 for females.
- In Holly Grove, among full-time, year-round workers aged 15 years and older, males earned a median income of $63,811, while females earned $38,944, leading to a 39% gender pay gap among full-time workers. This illustrates that women earn 61 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Holly Grove, the population is predominantly Black or African American, constituting 94.46% 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 $32,953.
- In Holly Grove, 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 $132,862. This reveals that, while Black or African Americans may be the most numerous in Holly Grove, White households experience greater economic prosperity in terms of median household income.
- In Holly Grove, the median household income for the households where the householder is White increased by $80,287(152.71%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $52,575 in 2011 and $132,862 in 2021.
- In Holly Grove, the median household income for the households where the householder is Black or African American increased by $2,910(9.69%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $30,043 in 2011 and $32,953 in 2021.
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Year by year
Holly Grove, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Holly Grove increased by $2,291 (7.21%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 17,366 (from $38,423 to $55,789). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 12,151 (from $48,978 to $36,827).
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- With a Gini coefficient of 0.5189, it is evident that income distribution in Holly Grove, AR exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $0. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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