Age of householder
Per the latest American Community Survey by the Census Bureau, Holly township sees its highest median household income among householders in the age group of 25 to 44 years old, at $90,483. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Holly township, the median household income stands at $90,483 for householders within the 25 to 44 years age group, followed by $75,761 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $42,871.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $760(0.85%), escalating from a median of $89,723 in 2011 to $90,483 in 2021.
- 109(2.15%) households where the householder is under 25 years old.
- 1,438(28.40%) households with a householder aged between 25 and 44 years.
- 2,343(46.27%) households with a householder aged between 45 and 64 years.
- 1,174(23.18%) households where the householder is over 65 years old.
Read more about Holly Township, Michigan median household income by age ➔
Gender
In Holly township, the population consists of 5,652 males (46.98%) and 6,379 females (53.02%). Here are the primary highlights from the gender-based income distribution analysis:
- In Holly township, the median income for all workers aged 15 years and older, regardless of work hours, was $47,333 for males and $27,361 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $59,181 for males and $63,844 for females.
- In Holly township, the median income for all workers aged 15 years and older, regardless of work hours, was $47,333 for males and $27,361 for females.
- In Holly township, among full-time, year-round workers aged 15 years and older, males earned a median income of $59,181, while females earned $63,844
Read more about Holly Township, Michigan income by gender ➔
Race
In Holly township, the population is predominantly White, constituting 91% 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 $68,918.
- In Holly township, White is both the largest group and the one with the highest median household income, which stands at $68,918.
- In Holly township, the median household income for the households where the householder is White decreased by $11,238(14.02%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $80,156 in 2011 and $68,918 in 2021.
- In Holly township, the median household income for Black or African American households was $103,223 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Holly Township, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Holly township decreased by $10,324 (13.08%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 1,532 (from $75,522 to $77,054). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 3,578 (from $72,177 to $68,599).
- It then further increased to $173,486 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.443, it is evident that income distribution in Holly Township, Michigan exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $91,474. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $40,567.
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