Age of householder
Per the latest American Community Survey by the Census Bureau, Lake View sees its highest median household income among householders in the age group of 25 to 44 years old, at $50,331. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lake View, where there exist only two delineated age groups, the median household income is $50,331 for householders within the 25 to 44 years age group, compared to $16,964 for the 45 to 64 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $22,953(83.84%), escalating from a median of $27,378 in 2011 to $50,331 in 2021.
- 0 households where the householder is under 25 years old.
- 21(12.35%) households with a householder aged between 25 and 44 years.
- 49(28.82%) households with a householder aged between 45 and 64 years.
- 100(58.82%) households where the householder is over 65 years old.
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Gender
In Lake View, the population consists of 180 males (39.30%) and 278 females (60.70%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lake View, the median income for all workers aged 15 years and older, regardless of work hours, was $11,147 for males and $17,817 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $29,388 for males and $36,377 for females.
- In Lake View, the median income for all workers aged 15 years and older, regardless of work hours, was $11,147 for males and $17,817 for females.
- In Lake View, among full-time, year-round workers aged 15 years and older, males earned a median income of $29,388, while females earned $36,377
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Race
In Lake View, the population is predominantly Black or African American, constituting 95.41% 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 $22,390.
- In Lake View, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $69,584. This reveals that, while Black or African Americans may be the most numerous in Lake View, White households experience greater economic prosperity in terms of median household income.
- In Lake View, the median household income for the households where the householder is White increased by $43,161(163.35%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $26,423 in 2011 and $69,584 in 2021.
- In Lake View, the median household income for the households where the householder is Black or African American decreased by $3,626(13.94%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $26,016 in 2011 and $22,390 in 2021.
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Year by year
Lake View, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lake View decreased by $12,046 (33.48%), 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 2013 to 2014, when the median household income increased by 4,458 (from $22,868 to $27,326). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 10,511 (from $35,981 to $25,470).
- It then further increased to $87,824 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4032, it is evident that income distribution in Lake View, AR exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $56,973. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $17,457.
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