Age of householder
Per the latest American Community Survey by the Census Bureau, Island Falls town sees its highest median household income among householders in the age group of 45 to 64 years old, at $59,156. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Island Falls town, where there exist only two delineated age groups, the median household income is $59,156 for householders within the 45 to 64 years age group, compared to $35,130 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $13,555(62.83%), escalating from a median of $21,575 in 2011 to $35,130 in 2021.
- 0 households where the householder is under 25 years old.
- 57(16.47%) households with a householder aged between 25 and 44 years.
- 127(36.71%) households with a householder aged between 45 and 64 years.
- 162(46.82%) households where the householder is over 65 years old.
Read more about Island Falls, Maine median household income by age ➔
Gender
In Island Falls town, the population consists of 403 males (47.02%) and 454 females (52.98%). Here are the primary highlights from the gender-based income distribution analysis:
- In Island Falls town, the median income for all workers aged 15 years and older, regardless of work hours, was $39,183 for males and $21,373 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $64,855 for males and $58,099 for females.
- In Island Falls town, the median income for all workers aged 15 years and older, regardless of work hours, was $39,183 for males and $21,373 for females.
- In Island Falls town, among full-time, year-round workers aged 15 years and older, males earned a median income of $64,855, while females earned $58,099, resulting in a 10% gender pay gap among full-time workers. This illustrates that women earn 90 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Island Falls town.
Read more about Island Falls, Maine income by gender ➔
Race
In Island Falls town, the population is predominantly White, constituting 92.42% 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 $42,706.
- In Island Falls town, White is both the largest group and the one with the highest median household income, which stands at $42,706.
- In Island Falls town, the median household income for the households where the householder is White decreased by $8,882(17.22%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,588 in 2011 and $42,706 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
Read more about Island Falls, Maine median household income by race ➔
Year by year
Island Falls, Maine median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Island Falls town decreased by $8,991 (17.25%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2018 to 2019, when the median household income increased by 3,366 (from $42,622 to $45,988). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 3,188 (from $52,226 to $49,038).
- It then further increased to $98,510 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4938, it is evident that income distribution in Island Falls, Maine exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $64,584. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
Read more about Island Falls, Maine median household income ➔