Age of householder
Per the latest American Community Survey by the Census Bureau, Medicine Lake sees its highest median household income among householders in the age group of 45 to 64 years old, at $251,698. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Medicine Lake, where there exist only two delineated age groups, the median household income is $251,698 for householders within the 45 to 64 years age group, compared to $64,855 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 $122,248(94.44%), escalating from a median of $129,450 in 2011 to $251,698 in 2021.
- 2(1.04%) households where the householder is under 25 years old.
- 43(22.28%) households with a householder aged between 25 and 44 years.
- 100(51.81%) households with a householder aged between 45 and 64 years.
- 48(24.87%) households where the householder is over 65 years old.
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Gender
In Medicine Lake, the population consists of 220 males (53.53%) and 191 females (46.47%). Here are the primary highlights from the gender-based income distribution analysis:
- In Medicine Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $105,389 for males and $48,040 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $125,806 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Medicine Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $105,389 for males and $48,040 for females.
- In Medicine Lake, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $125,806 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Medicine Lake, the population is predominantly White, constituting 89.54% 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 $126,707.
- In Medicine Lake, White is both the largest group and the one with the highest median household income, which stands at $126,707.
- In Medicine Lake, the median household income for the households where the householder is White increased by $12,294(10.75%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $114,413 in 2011 and $126,707 in 2021.
- In Medicine Lake, the median household income for Black or African American households was $29,420 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
Medicine Lake, MN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Medicine Lake increased by $13,554 (11.99%), 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 17,462 (from $99,393 to $116,855). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 14,363 (from $114,663 to $100,300).
- It then further increased to $270,229 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5223, it is evident that income distribution in Medicine Lake, MN exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $257,392. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $65,347.
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