Age of householder
Per the latest American Community Survey by the Census Bureau, Irwin sees its highest median household income among householders in the age group of 25 to 44 years old, at $82,420. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Irwin, where there exist only two delineated age groups, the median household income is $82,420 for householders within the 25 to 44 years age group, compared to $29,050 for the 65 years and over age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $30,934(60.08%), escalating from a median of $51,486 in 2011 to $82,420 in 2021.
- 0 households where the householder is under 25 years old.
- 7(43.75%) households with a householder aged between 25 and 44 years.
- 6(37.50%) households with a householder aged between 45 and 64 years.
- 3(18.75%) households where the householder is over 65 years old.
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Gender
In Irwin, the population consists of 18 males (56.25%) and 14 females (43.75%). Here are the primary highlights from the gender-based income distribution analysis:
- In Irwin, the median income for all workers aged 15 years and older, regardless of work hours, was $66,206 for males and $48,641 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $71,610 for males and $74,313 for females.
- In Irwin, the median income for all workers aged 15 years and older, regardless of work hours, was $66,206 for males and $48,641 for females.
- In Irwin, among full-time, year-round workers aged 15 years and older, males earned a median income of $71,610, while females earned $74,313
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Race
In Irwin, the population is predominantly White, constituting 90.62% 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 $60,801.
- In Irwin, White is both the largest group and the one with the highest median household income, which stands at $60,801.
- In Irwin, the median household income for the households where the householder is White increased by $5,229(9.41%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $55,572 in 2011 and $60,801 in 2021.
- As per the U.S. Census Bureau population data, in Irwin, 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
Irwin, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Irwin increased by $13,931 (23.60%), 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 2014 to 2015, when the median household income increased by 21,587 (from $54,294 to $75,881). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 3,805 (from $74,913 to $71,108).
- It then further increased to $85,122 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3321, it is evident that income distribution in Irwin, IL exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $28,644.
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