Age of householder
Per the latest American Community Survey by the Census Bureau, Lake Waccamaw sees its highest median household income among householders in the age group of 45 to 64 years old, at $74,795. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lake Waccamaw, householders within the 45 to 64 years age group have the highest median household income at $74,795, followed by those in the under 25 years age group with an income of $64,404. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $54,721. Notably, householders within the 65 years and over age group, had the lowest median household income at $48,149.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $23,972(33.24%), declining from a median of $72,121 in 2011 to $48,149 in 2021.
- 11(1.87%) households where the householder is under 25 years old.
- 97(16.52%) households with a householder aged between 25 and 44 years.
- 191(32.54%) households with a householder aged between 45 and 64 years.
- 288(49.06%) households where the householder is over 65 years old.
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Gender
In Lake Waccamaw, the population consists of 709 males (47.24%) and 792 females (52.76%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lake Waccamaw, the median income for all workers aged 15 years and older, regardless of work hours, was $36,297 for males and $34,384 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 $52,169 for females.
- In Lake Waccamaw, the median income for all workers aged 15 years and older, regardless of work hours, was $36,297 for males and $34,384 for females.
- In Lake Waccamaw, among full-time, year-round workers aged 15 years and older, males earned a median income of $56,411, while females earned $52,169, resulting in a 8% gender pay gap among full-time workers. This illustrates that women earn 92 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Lake Waccamaw.
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Race
In Lake Waccamaw, the population is predominantly White, constituting 81.55% 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 $66,622.
- In Lake Waccamaw, White is both the largest group and the one with the highest median household income, which stands at $66,622.
- In Lake Waccamaw, the median household income for the households where the householder is White decreased by $23,184(25.82%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $89,806 in 2011 and $66,622 in 2021.
- In Lake Waccamaw, the median household income for Black or African American households was $46,062 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Lake Waccamaw, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lake Waccamaw decreased by $23,847 (27.84%), 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 2020 to 2021, when the median household income increased by 1,676 (from $60,139 to $61,815). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 9,640 (from $85,771 to $76,131).
- It then further increased to $128,809 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4942, it is evident that income distribution in Lake Waccamaw, NC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $79,380. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $37,381.
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