Age of householder
Per the latest American Community Survey by the Census Bureau, Little Compton town sees its highest median household income among householders in the age group of 65 years and over old, at $111,120. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Little Compton town, where there exist only two delineated age groups, the median household income is $111,120 for householders within the 65 years and over age group, compared to $102,837 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $9,374(9.21%), escalating from a median of $101,746 in 2011 to $111,120 in 2021.
- 0 households where the householder is under 25 years old.
- 237(14.89%) households with a householder aged between 25 and 44 years.
- 564(35.43%) households with a householder aged between 45 and 64 years.
- 791(49.69%) households where the householder is over 65 years old.
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Gender
In Little Compton town, the population consists of 1,870 males (51.94%) and 1,730 females (48.06%). Here are the primary highlights from the gender-based income distribution analysis:
- In Little Compton town, the median income for all workers aged 15 years and older, regardless of work hours, was $58,463 for males and $40,285 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $60,396 for males and $74,651 for females.
- In Little Compton town, the median income for all workers aged 15 years and older, regardless of work hours, was $58,463 for males and $40,285 for females.
- In Little Compton town, among full-time, year-round workers aged 15 years and older, males earned a median income of $60,396, while females earned $74,651
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Race
In Little Compton town, the population is predominantly White, constituting 98.72% 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 $104,489.
- In Little Compton town, White is both the largest group and the one with the highest median household income, which stands at $104,489.
- In Little Compton town, the median household income for the households where the householder is White decreased by $21,300(16.93%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $125,789 in 2011 and $104,489 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
Little Compton, Rhode Island median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Little Compton town decreased by $24,113 (18.84%), 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 2019 to 2020, when the median household income increased by 17,233 (from $102,597 to $119,830). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 15,942 (from $119,830 to $103,888).
- It then further increased to $146,283 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5423, it is evident that income distribution in Little Compton, Rhode Island exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $137,085. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $62,718.
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