Age of householder
Per the latest American Community Survey by the Census Bureau, Jacob City sees its highest median household income among householders in the age group of 45 to 64 years old, at $46,355. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Jacob City, the median household income stands at $46,355 for householders within the 45 to 64 years age group, followed by $40,985 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $23,983.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $21,371(108.96%), escalating from a median of $19,614 in 2011 to $40,985 in 2021.
- 0 households where the householder is under 25 years old.
- 37(30.58%) households with a householder aged between 25 and 44 years.
- 40(33.06%) households with a householder aged between 45 and 64 years.
- 44(36.36%) households where the householder is over 65 years old.
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Gender
In Jacob City, the population consists of 114 males (48.31%) and 122 females (51.69%). Here are the primary highlights from the gender-based income distribution analysis:
- In Jacob City, the median income for all workers aged 15 years and older, regardless of work hours, was $27,173 for males and $19,851 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $33,779 for males and $31,415 for females.
- In Jacob City, the median income for all workers aged 15 years and older, regardless of work hours, was $27,173 for males and $19,851 for females.
- In Jacob City, among full-time, year-round workers aged 15 years and older, males earned a median income of $33,779, while females earned $31,415, resulting in a 7% gender pay gap among full-time workers. This illustrates that women earn 93 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 city of Jacob City.
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Race
In Jacob City, the population is predominantly Black or African American, constituting 100% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $40,964.
- In Jacob City, Black or African American is both the largest group and the one with the highest median household income, which stands at $40,964.
- As per the U.S. Census Bureau population data, in Jacob City, there are no households where the householder is White; thus, the median household income for the White population is not applicable.
- In Jacob City, the median household income for the households where the householder is Black or African American increased by $16,447(67.08%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $24,517 in 2011 and $40,964 in 2021.
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Year by year
Jacob City, FL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Jacob City increased by $11,954 (41.21%), 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 2020 to 2021, when the median household income increased by 12,635 (from $28,329 to $40,964). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 6,269 (from $34,457 to $28,188).
- It then further increased to $56,478 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3208, it is evident that income distribution in Jacob City, FL exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $47,290. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $21,618.
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