Age of householder
Per the latest American Community Survey by the Census Bureau, Lynchburg sees its highest median household income among householders in the age group of 45 to 64 years old, at $54,185. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Lynchburg, where there exist only two delineated age groups, the median household income is $54,185 for householders within the 45 to 64 years age group, compared to $26,347 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $10,381(23.70%), escalating from a median of $43,804 in 2011 to $54,185 in 2021.
- 12(8.11%) households where the householder is under 25 years old.
- 0 households with a householder aged between 25 and 44 years.
- 83(56.08%) households with a householder aged between 45 and 64 years.
- 53(35.81%) households where the householder is over 65 years old.
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Gender
In Lynchburg, the population consists of 314 males (60.50%) and 205 females (39.50%). Here are the primary highlights from the gender-based income distribution analysis:
- In Lynchburg, the median income for all workers aged 15 years and older, regardless of work hours, was $13,511 for males and $20,676 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $17,978 for males and $37,381 for females.
- In Lynchburg, the median income for all workers aged 15 years and older, regardless of work hours, was $13,511 for males and $20,676 for females.
- In Lynchburg, among full-time, year-round workers aged 15 years and older, males earned a median income of $17,978, while females earned $37,381
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Race
In Lynchburg, the population is predominantly Black or African American, constituting 90.37% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is not available from the U.S. Census Bureau, possibly due to insufficient sample size, confidentiality or privacy constraints..
- In Lynchburg, despite the Black or African American population being the most populous, there is no income data available in the latest American Community Survey for it. Based on analysis from all of the data that is available, it is worth noting that White households actually reports the highest median household income, with a median income of $35,940. This reveals that, while Black or African Americans may be the most numerous in Lynchburg, White households experience greater economic prosperity in terms of median household income.
- In Lynchburg, the median household income for the households where the householder is White decreased by $18,324(33.77%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $54,264 in 2011 and $35,940 in 2021.
- In Lynchburg, the median household income for Black or African American households was $24,439 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
Lynchburg, SC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Lynchburg decreased by $1,219 (3.48%), 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 17,274 (from $25,978 to $43,252). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 9,594 (from $36,405 to $26,811).
- It then further increased to $55,723 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3975, it is evident that income distribution in Lynchburg, SC exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $54,884. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $19,495.
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