Gender
In Lakeville, the population consists of 35,215 males (51.02%) and 33,811 females (48.98%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lakeville, the median income for all workers aged 15 years and older, regardless of work hours, was $74,433 for males and $45,683 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $93,945 for males and $65,932 for females.
- In Lakeville, the median income for all workers aged 15 years and older, regardless of work hours, was $74,433 for males and $45,683 for females.
- In Lakeville, among full-time, year-round workers aged 15 years and older, males earned a median income of $93,945, while females earned $65,932, leading to a 30% gender pay gap among full-time workers. This illustrates that women earn 70 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Lakeville, the population is predominantly White, constituting 84.02% 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 $131,344.
- In Lakeville, White is both the largest group and the one with the highest median household income, which stands at $131,344.
- In Lakeville, there was no reported median household income for White households in 2012. However, in 2022, the median household income increased to $131,344, marking a significant change.
- In Lakeville, there was no reported median household income for Black or African American households in 2012. However, in 2022, the median household income increased to $39,952, marking a significant change.
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Year by year
Lakeville, MN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lakeville increased by $6,041 (4.89%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 3,064 (from $117,854 to $120,918). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 5,964 (from $125,064 to $119,100).
- It then further decreased to -666,666,666 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3746, it is evident that income distribution in Lakeville, MN exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $141,138. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $62,473.
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