Age of householder
Per the latest American Community Survey by the Census Bureau, Maywood sees its highest median household income among householders in the age group of 25 to 44 years old, at $74,639. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Maywood, householders within the 25 to 44 years age group have the highest median household income at $74,639, followed by those in the 45 to 64 years age group with an income of $69,011. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $44,908. Notably, householders within the under 25 years age group, had the lowest median household income at $28,866.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $9,923(15.33%), escalating from a median of $64,716 in 2011 to $74,639 in 2021.
- 141(1.79%) households where the householder is under 25 years old.
- 2,386(30.30%) households with a householder aged between 25 and 44 years.
- 3,220(40.89%) households with a householder aged between 45 and 64 years.
- 2,128(27.02%) households where the householder is over 65 years old.
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Gender
In Maywood, the population consists of 11,523 males (48.94%) and 12,024 females (51.06%). Here are the primary highlights from the gender-based income distribution analysis:
- In Maywood, the median income for all workers aged 15 years and older, regardless of work hours, was $33,657 for males and $29,131 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $47,903 for males and $48,424 for females.
- In Maywood, the median income for all workers aged 15 years and older, regardless of work hours, was $33,657 for males and $29,131 for females.
- In Maywood, among full-time, year-round workers aged 15 years and older, males earned a median income of $47,903, while females earned $48,424
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Race
In Maywood, the population is predominantly Black or African American, constituting 61.88% 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 $53,396.
- In Maywood, despite the Black or African American population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $86,965. This reveals that, while Black or African Americans may be the most numerous in Maywood, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Maywood, the median household income for the households where the householder is White increased by $7,559(9.58%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $78,877 in 2011 and $86,436 in 2021.
- In Maywood, the median household income for the households where the householder is Black or African American decreased by $3,132(5.54%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $56,528 in 2011 and $53,396 in 2021.
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Year by year
Maywood, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Maywood increased by $1,698 (2.75%), 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 2019 to 2020, when the median household income increased by 6,549 (from $57,613 to $64,162). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 3,008 (from $61,821 to $58,813).
- It then further increased to $123,968 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4285, it is evident that income distribution in Maywood, IL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $77,390. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $41,922.
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