Age of householder
Per the latest American Community Survey by the Census Bureau, Lower Gwynedd township sees its highest median household income among householders in the age group of 25 to 44 years old, at $209,011. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lower Gwynedd township, the median household income stands at $209,011 for householders within the 25 to 44 years age group, followed by $201,776 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $70,831.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $27,124(15.53%), escalating from a median of $174,652 in 2011 to $201,776 in 2021.
- 33(0.70%) households where the householder is under 25 years old.
- 543(11.56%) households with a householder aged between 25 and 44 years.
- 2,153(45.82%) households with a householder aged between 45 and 64 years.
- 1,970(41.92%) households where the householder is over 65 years old.
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Gender
In Lower Gwynedd township, the population consists of 5,464 males (45.60%) and 6,518 females (54.40%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lower Gwynedd township, the median income for all workers aged 15 years and older, regardless of work hours, was $74,532 for males and $42,661 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $150,833 for males and $91,003 for females.
- In Lower Gwynedd township, the median income for all workers aged 15 years and older, regardless of work hours, was $74,532 for males and $42,661 for females.
- In Lower Gwynedd township, among full-time, year-round workers aged 15 years and older, males earned a median income of $150,833, while females earned $91,003, leading to a 40% gender pay gap among full-time workers. This illustrates that women earn 60 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.
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Race
In Lower Gwynedd township, the population is predominantly White, constituting 75.54% 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 $116,326.
- In Lower Gwynedd township, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $218,699. This reveals that, while Whites may be the most numerous in Lower Gwynedd township, Asian households experience greater economic prosperity in terms of median household income.
- In Lower Gwynedd township, the median household income for the households where the householder is White decreased by $14,353(10.98%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $130,679 in 2011 and $116,326 in 2021.
- In Lower Gwynedd township, the median household income for the households where the householder is Black or African American decreased by $5,241(5.86%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $89,462 in 2011 and $84,221 in 2021.
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Year by year
Lower Gwynedd Township, Pennsylvania median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lower Gwynedd township decreased by $3,017 (2.32%), 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 2020 to 2021, when the median household income increased by 6,411 (from $120,795 to $127,206). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 11,768 (from $128,241 to $116,473).
- It then further increased to $169,123 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5243, it is evident that income distribution in Lower Gwynedd Township, Pennsylvania exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $187,524. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $53,487.
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