Age of householder
Per the latest American Community Survey by the Census Bureau, Lake Park sees its highest median household income among householders in the age group of 45 to 64 years old, at $72,511. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Lake Park only reports a median household income of $72,511 among householders in the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $11,709(19.26%), escalating from a median of $60,802 in 2011 to $72,511 in 2021.
- 6(1.79%) households where the householder is under 25 years old.
- 148(44.05%) households with a householder aged between 25 and 44 years.
- 124(36.90%) households with a householder aged between 45 and 64 years.
- 58(17.26%) households where the householder is over 65 years old.
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Gender
In Lake Park, the population consists of 377 males (36.82%) and 647 females (63.18%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lake Park, the median income for all workers aged 15 years and older, regardless of work hours, was $48,304 for males and $23,077 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $53,235 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Lake Park, the median income for all workers aged 15 years and older, regardless of work hours, was $48,304 for males and $23,077 for females.
- In Lake Park, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $53,235 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Lake Park, the population is predominantly White, constituting 70.31% 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 $63,053.
- In Lake Park, White is both the largest group and the one with the highest median household income, which stands at $63,053.
- In Lake Park, the median household income for the households where the householder is White decreased by $2,735(4.16%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $65,788 in 2011 and $63,053 in 2021.
- In Lake Park, the median household income for the households where the householder is Black or African American decreased by $20,999(88.60%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $23,700 in 2011 and $2,701 in 2021.
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Year by year
Lake Park, GA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lake Park decreased by $29,563 (42.88%), 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 2017 to 2018, when the median household income increased by 8,065 (from $49,901 to $57,966). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 19,704 (from $59,206 to $39,502).
- It then further increased to $90,865 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.6874, it is evident that income distribution in Lake Park, GA exihibits characterstics of high inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $0. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $27,023.
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