Age of householder
Per the latest American Community Survey by the Census Bureau, Lakeside township sees its highest median household income among householders in the age group of 45 to 64 years old, at $53,406. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lakeside township, where there exist only two delineated age groups, the median household income is $53,406 for householders within the 45 to 64 years age group, compared to $31,346 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $3,858(10.96%), declining from a median of $35,204 in 2011 to $31,346 in 2021.
- 0 households where the householder is under 25 years old.
- 31(14.62%) households with a householder aged between 25 and 44 years.
- 85(40.09%) households with a householder aged between 45 and 64 years.
- 96(45.28%) households where the householder is over 65 years old.
Read more about Lakeside township, Aitkin County, Minnesota median household income by age ➔
Gender
In Lakeside township, the population consists of 249 males (62.25%) and 151 females (37.75%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lakeside township, the median income for all workers aged 15 years and older, regardless of work hours, was $39,183 for males and $26,873 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $100,660 for males and $34,270 for females.
- In Lakeside township, the median income for all workers aged 15 years and older, regardless of work hours, was $39,183 for males and $26,873 for females.
- In Lakeside township, among full-time, year-round workers aged 15 years and older, males earned a median income of $100,660, while females earned $34,270, leading to a 66% gender pay gap among full-time workers. This illustrates that women earn 34 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.
Read more about Lakeside township, Aitkin County, Minnesota income by gender ➔
Race
In Lakeside township, the population is predominantly White, constituting 94.50% 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 $52,055.
- In Lakeside township, White is both the largest group and the one with the highest median household income, which stands at $52,055.
- In Lakeside township, the median household income for the households where the householder is White increased by $11,057(26.97%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $40,998 in 2011 and $52,055 in 2021.
- As per the U.S. Census Bureau population data, in Lakeside township, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
Read more about Lakeside township, Aitkin County, Minnesota median household income by race ➔
Year by year
Lakeside township, Aitkin County, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lakeside township increased by $2,056 (4.17%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 10,086 (from $40,905 to $50,991). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 12,167 (from $54,975 to $42,808).
- It then further increased to $118,450 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5571, it is evident that income distribution in Lakeside township, Aitkin County, Minnesota exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $82,870. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,339.
Read more about Lakeside township, Aitkin County, Minnesota median household income ➔