Age of householder
Per the latest American Community Survey by the Census Bureau, Kratka township sees its highest median household income among householders in the age group of 45 to 64 years old, at $56,147. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Kratka township only reports a median household income of $56,147 among householders in the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $21,013(27.23%), declining from a median of $77,160 in 2011 to $56,147 in 2021.
- 4(6.90%) households where the householder is under 25 years old.
- 20(34.48%) households with a householder aged between 25 and 44 years.
- 30(51.72%) households with a householder aged between 45 and 64 years.
- 4(6.90%) households where the householder is over 65 years old.
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Gender
In Kratka township, the population consists of 82 males (48.81%) and 86 females (51.19%). Here are the primary highlights from the gender-based income distribution analysis:
- In Kratka township, the median income for all workers aged 15 years and older, regardless of work hours, was $53,466 for males and $18,579 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $56,411 for males and $22,004 for females.
- In Kratka township, the median income for all workers aged 15 years and older, regardless of work hours, was $53,466 for males and $18,579 for females.
- In Kratka township, among full-time, year-round workers aged 15 years and older, males earned a median income of $56,411, while females earned $22,004, leading to a 61% gender pay gap among full-time workers. This illustrates that women earn 39 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 Kratka township, the population is predominantly White, constituting 91.67% 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 $54,946.
- In Kratka township, White is both the largest group and the one with the highest median household income, which stands at $54,946.
- In Kratka township, the median household income for the households where the householder is White decreased by $22,214(28.79%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $77,160 in 2011 and $54,946 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
Kratka Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Kratka township decreased by $23,762 (30.19%), 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 2012 to 2013, when the median household income increased by 23,822 (from $75,537 to $99,359). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 17,764 (from $72,710 to $54,946).
- It then further increased to $197,942 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3839, it is evident that income distribution in Kratka Township, Minnesota exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $55,127. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $54,721.
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