Age of householder
Per the latest American Community Survey by the Census Bureau, Iowa Colony sees its highest median household income among householders in the age group of 45 to 64 years old, at $138,671. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Iowa Colony, where there exist only two delineated age groups, the median household income is $138,671 for householders within the 45 to 64 years age group, compared to $95,894 for the 25 to 44 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $60,662(77.76%), escalating from a median of $78,009 in 2011 to $138,671 in 2021.
- 67(2.54%) households where the householder is under 25 years old.
- 1,364(51.76%) households with a householder aged between 25 and 44 years.
- 1,003(38.06%) households with a householder aged between 45 and 64 years.
- 201(7.63%) households where the householder is over 65 years old.
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Gender
In Iowa Colony, the population consists of 4,065 males (49.65%) and 4,122 females (50.35%). Here are the primary highlights from the gender-based income distribution analysis:
- In Iowa Colony, the median income for all workers aged 15 years and older, regardless of work hours, was $68,038 for males and $42,738 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $82,500 for males and $84,388 for females.
- In Iowa Colony, the median income for all workers aged 15 years and older, regardless of work hours, was $68,038 for males and $42,738 for females.
- In Iowa Colony, among full-time, year-round workers aged 15 years and older, males earned a median income of $82,500, while females earned $84,388
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Race
In Iowa Colony, the population is predominantly White, constituting 39.78% 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 $105,727.
- In Iowa Colony, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $134,115. This reveals that, while Whites may be the most numerous in Iowa Colony, Black or African American households experience greater economic prosperity in terms of median household income.
- In Iowa Colony, the median household income for the households where the householder is White increased by $16,103(17.97%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $89,624 in 2011 and $105,727 in 2021.
- In Iowa Colony, the median household income for the households where the householder is Black or African American increased by $40,017(42.53%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $94,098 in 2011 and $134,115 in 2021.
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Year by year
Iowa Colony, TX median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Iowa Colony decreased by $3,875 (3.68%), 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 2018 to 2019, when the median household income increased by 30,605 (from $90,748 to $121,353). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 20,246 (from $110,994 to $90,748).
- It then further decreased to 90,700 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3576, it is evident that income distribution in Iowa Colony, TX exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $101,336. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $100,417.
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