Age of householder
Per the latest American Community Survey by the Census Bureau, Lake township sees its highest median household income among householders in the age group of 45 to 64 years old, at $126,588. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lake township, the median household income stands at $126,588 for householders within the 45 to 64 years age group, followed by $54,269 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 $53,833.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $55,761(78.73%), escalating from a median of $70,827 in 2011 to $126,588 in 2021.
- 0 households where the householder is under 25 years old.
- 183(11.44%) households with a householder aged between 25 and 44 years.
- 733(45.81%) households with a householder aged between 45 and 64 years.
- 684(42.75%) households where the householder is over 65 years old.
Read more about Lake township, Wayne County, Pennsylvania median household income by age ➔
Gender
In Lake township, the population consists of 2,547 males (52.30%) and 2,323 females (47.70%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lake township, the median income for all workers aged 15 years and older, regardless of work hours, was $33,714 for males and $20,571 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $45,750 for males and $48,485 for females.
- In Lake township, the median income for all workers aged 15 years and older, regardless of work hours, was $33,714 for males and $20,571 for females.
- In Lake township, among full-time, year-round workers aged 15 years and older, males earned a median income of $45,750, while females earned $48,485
Read more about Lake township, Wayne County, Pennsylvania income by gender ➔
Race
In Lake township, the population is predominantly White, constituting 94.80% 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 $71,085.
- In Lake township, White is both the largest group and the one with the highest median household income, which stands at $71,085.
- In Lake township, the median household income for the households where the householder is White increased by $1,043(1.49%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $70,042 in 2011 and $71,085 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
Lake township, Wayne County, Pennsylvania median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lake township increased by $3,902 (5.83%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 6,880 (from $62,338 to $69,218). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 6,784 (from $77,644 to $70,860).
- It then further increased to $90,720 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4262, it is evident that income distribution in Lake township, Wayne County, Pennsylvania exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $76,173. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $28,461.
Read more about Lake township, Wayne County, Pennsylvania median household income ➔