Age of householder
Per the latest American Community Survey by the Census Bureau, Hyde Park sees its highest median household income among householders in the age group of 25 to 44 years old, at $95,931. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Hyde Park, where there exist only two delineated age groups, the median household income is $95,931 for householders within the 25 to 44 years age group, compared to $89,690 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $751(0.83%), declining from a median of $90,441 in 2011 to $89,690 in 2021.
- 3(1.35%) households where the householder is under 25 years old.
- 38(17.12%) households with a householder aged between 25 and 44 years.
- 114(51.35%) households with a householder aged between 45 and 64 years.
- 67(30.18%) households where the householder is over 65 years old.
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Gender
In Hyde Park, the population consists of 232 males (47.64%) and 255 females (52.36%). Here are the primary highlights from the gender-based income distribution analysis:
- In Hyde Park, the median income for all workers aged 15 years and older, regardless of work hours, was $53,145 for males and $28,524 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $65,665 for males and $70,899 for females.
- In Hyde Park, the median income for all workers aged 15 years and older, regardless of work hours, was $53,145 for males and $28,524 for females.
- In Hyde Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $65,665, while females earned $70,899
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Race
In Hyde Park, the population is predominantly White, constituting 98.36% 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 $82,830.
- In Hyde Park, White is both the largest group and the one with the highest median household income, which stands at $82,830.
- In Hyde Park, the median household income for the households where the householder is White increased by $14,999(22.11%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $67,831 in 2011 and $82,830 in 2021.
- As per the U.S. Census Bureau population data, in Hyde Park, 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
Hyde Park, VT median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Hyde Park increased by $13,679 (19.78%), 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 2014 to 2015, when the median household income increased by 15,899 (from $59,982 to $75,881). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 12,236 (from $72,045 to $59,809).
- It then further increased to $136,735 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.471, it is evident that income distribution in Hyde Park, VT exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $90,977. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,425.
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