Age of householder
Per the latest American Community Survey by the Census Bureau, Limestone township sees its highest median household income among householders in the age group of under 25 years old, at $88,018. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Limestone township, where there exist only two delineated age groups, the median household income is $88,018 for householders within the under 25 years age group, compared to $55,397 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 $13,718(32.91%), escalating from a median of $41,679 in 2011 to $55,397 in 2021.
- 12(23.53%) households where the householder is under 25 years old.
- 11(21.57%) households with a householder aged between 25 and 44 years.
- 14(27.45%) households with a householder aged between 45 and 64 years.
- 14(27.45%) households where the householder is over 65 years old.
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Gender
In Limestone township, the population consists of 78 males (53.79%) and 67 females (46.21%). Here are the primary highlights from the gender-based income distribution analysis:
- In Limestone township, while the Census reported a median income of $49,317 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 $55,847 for males and $51,729 for females.
- In Limestone township, while the Census reported a median income of $49,317 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 Limestone township, among full-time, year-round workers aged 15 years and older, males earned a median income of $55,847, while females earned $51,729, resulting in a 7% gender pay gap among full-time workers. This illustrates that women earn 93 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 township of Limestone township.
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Race
In Limestone township, the population is predominantly White, constituting 100% 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 $60,126.
- In Limestone township, White is both the largest group and the one with the highest median household income, which stands at $60,126.
- In Limestone township, the median household income for the households where the householder is White decreased by $1,439(2.34%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $61,565 in 2011 and $60,126 in 2021.
- As per the U.S. Census Bureau population data, in Limestone 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.
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Year by year
Limestone Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Limestone township decreased by $2,841 (4.51%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2011 to 2012, when the median household income increased by 32,894 (from $61,565 to $94,459). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 30,904 (from $88,269 to $57,365).
- It then further increased to $88,403 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4615, it is evident that income distribution in Limestone Township, Minnesota exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $31,752.
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