Age of householder
Per the latest American Community Survey by the Census Bureau, Lebanon sees its highest median household income among householders in the age group of 45 to 64 years old, at $59,810. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lebanon, where there exist only two delineated age groups, the median household income is $59,810 for householders within the 45 to 64 years age group, compared to $29,339 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $8,312(39.53%), escalating from a median of $21,027 in 2011 to $29,339 in 2021.
- 92(7.29%) households where the householder is under 25 years old.
- 354(28.05%) households with a householder aged between 25 and 44 years.
- 202(16.01%) households with a householder aged between 45 and 64 years.
- 614(48.65%) households where the householder is over 65 years old.
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Gender
In Lebanon, the population consists of 1,238 males (39.20%) and 1,920 females (60.80%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lebanon, while the Census reported a median income of $29,333 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $50,443 for males and $58,324 for females.
- In Lebanon, while the Census reported a median income of $29,333 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Lebanon, among full-time, year-round workers aged 15 years and older, males earned a median income of $50,443, while females earned $58,324
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Race
In Lebanon, the population is predominantly White, constituting 97.85% 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 $47,159.
- In Lebanon, White is both the largest group and the one with the highest median household income, which stands at $47,159.
- In Lebanon, the median household income for the households where the householder is White increased by $16,641(54.53%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $30,518 in 2011 and $47,159 in 2021.
- In Lebanon, the median household income for Black or African American households was $47,400 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
Lebanon, VA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lebanon increased by $12,519 (35.99%), 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 2015 to 2016, when the median household income increased by 14,044 (from $44,290 to $58,334). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 9,745 (from $57,060 to $47,315).
- It then further increased to $41,671 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4305, it is evident that income distribution in Lebanon, VA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $56,828. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $31,097.
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