Age of householder
Per the latest American Community Survey by the Census Bureau, Luverne township sees its highest median household income among householders in the age group of 45 to 64 years old, at $118,450. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Luverne township, where there exist only two delineated age groups, the median household income is $118,450 for householders within the 45 to 64 years age group, compared to $110,456 for the 25 to 44 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $19,253(21.11%), escalating from a median of $91,203 in 2011 to $110,456 in 2021.
- 6(3.80%) households where the householder is under 25 years old.
- 29(18.35%) households with a householder aged between 25 and 44 years.
- 71(44.94%) households with a householder aged between 45 and 64 years.
- 52(32.91%) households where the householder is over 65 years old.
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Gender
In Luverne township, the population consists of 255 males (55.31%) and 206 females (44.69%). Here are the primary highlights from the gender-based income distribution analysis:
- In Luverne township, the median income for all workers aged 15 years and older, regardless of work hours, was $54,253 for males and $27,023 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $60,905 for males and $81,293 for females.
- In Luverne township, the median income for all workers aged 15 years and older, regardless of work hours, was $54,253 for males and $27,023 for females.
- In Luverne township, among full-time, year-round workers aged 15 years and older, males earned a median income of $60,905, while females earned $81,293
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Race
In Luverne township, the population is predominantly White, constituting 95.01% 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 $117,549.
- In Luverne township, White is both the largest group and the one with the highest median household income, which stands at $117,549.
- In Luverne township, the median household income for the households where the householder is White increased by $25,473(27.67%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $92,076 in 2011 and $117,549 in 2021.
- As per the U.S. Census Bureau population data, in Luverne 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
Luverne Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Luverne township increased by $23,388 (26.35%), 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 2019 to 2020, when the median household income increased by 19,536 (from $99,444 to $118,980). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 11,168 (from $89,013 to $77,845).
- It then further increased to $80,258 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4261, it is evident that income distribution in Luverne Township, Minnesota exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $118,450. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $90,526.
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