Age of householder
Per the latest American Community Survey by the Census Bureau, Inez sees its highest median household income among householders in the age group of 65 years and over old, at $16,985. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Inez only reports a median household income of $16,985 among householders in the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $10,147(37.40%), declining from a median of $27,132 in 2011 to $16,985 in 2021.
- 9(3.75%) households where the householder is under 25 years old.
- 45(18.75%) households with a householder aged between 25 and 44 years.
- 102(42.50%) households with a householder aged between 45 and 64 years.
- 84(35%) households where the householder is over 65 years old.
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Gender
In Inez, the population consists of 368 males (47.36%) and 409 females (52.64%). Here are the primary highlights from the gender-based income distribution analysis:
- In Inez, while the Census reported a median income of $30,578 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $39,289 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Inez, while the Census reported a median income of $30,578 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Inez, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $39,289 for females, while data for males was unavailable due to an insufficient number of sample observations.
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Race
In Inez, the population is predominantly White, constituting 98.07% 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 $49,220.
- In Inez, White is both the largest group and the one with the highest median household income, which stands at $49,220.
- In Inez, the median household income for the households where the householder is White increased by $15,188(44.63%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $34,032 in 2011 and $49,220 in 2021.
- As per the U.S. Census Bureau population data, in Inez, 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
Inez, KY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Inez increased by $13,052 (37.38%), 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 2017 to 2018, when the median household income increased by 9,639 (from $36,880 to $46,519). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 13,097 (from $40,972 to $27,875).
- It then further increased to $67,106 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5734, it is evident that income distribution in Inez, KY exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $71,835. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $11,456.
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