Age of householder
Per the latest American Community Survey by the Census Bureau, Kings Point sees its highest median household income among householders in the age group of 65 years and over old, at $197,685. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Kings Point, the median household income stands at $197,685 for householders within the 65 years and over age group, followed by $166,627 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $129,529.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $59,798(43.37%), escalating from a median of $137,887 in 2011 to $197,685 in 2021.
- 0 households where the householder is under 25 years old.
- 304(23.64%) households with a householder aged between 25 and 44 years.
- 463(36%) households with a householder aged between 45 and 64 years.
- 519(40.36%) households where the householder is over 65 years old.
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Gender
In Kings Point, the population consists of 3,202 males (58.29%) and 2,291 females (41.71%). Here are the primary highlights from the gender-based income distribution analysis:
- In Kings Point, the median income for all workers aged 15 years and older, regardless of work hours, was $62,439 for males and $31,076 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $120,985 for males and $57,974 for females.
- In Kings Point, the median income for all workers aged 15 years and older, regardless of work hours, was $62,439 for males and $31,076 for females.
- In Kings Point, among full-time, year-round workers aged 15 years and older, males earned a median income of $120,985, while females earned $57,974, leading to a 52% gender pay gap among full-time workers. This illustrates that women earn 48 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Kings Point, the population is predominantly White, constituting 87.91% 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 $164,353.
- In Kings Point, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $270,229. This reveals that, while Whites may be the most numerous in Kings Point, Asian households experience greater economic prosperity in terms of median household income.
- In Kings Point, the median household income for the households where the householder is White increased by $10,997(7.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $153,356 in 2011 and $164,353 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.
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Year by year
Kings Point, NY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Kings Point decreased by $37,724 (18.51%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2018 to 2019, when the median household income increased by 22,367 (from $144,671 to $167,038). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 50,825 (from $203,755 to $152,930).
- It then further increased to $199,293 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5001, it is evident that income distribution in Kings Point, NY exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $170,671. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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