Age of householder
Per the latest American Community Survey by the Census Bureau, Melvin sees its highest median household income among householders in the age group of 25 to 44 years old, at $56,973. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Melvin, the median household income stands at $56,973 for householders within the 25 to 44 years age group, followed by $45,263 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $44,756.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $24,015(113.02%), escalating from a median of $21,248 in 2011 to $45,263 in 2021.
- 0 households where the householder is under 25 years old.
- 23(33.33%) households with a householder aged between 25 and 44 years.
- 25(36.23%) households with a householder aged between 45 and 64 years.
- 21(30.43%) households where the householder is over 65 years old.
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Gender
In Melvin, the population consists of 108 males (54.27%) and 91 females (45.73%). Here are the primary highlights from the gender-based income distribution analysis:
- In Melvin, the median income for all workers aged 15 years and older, regardless of work hours, was $34,358 for males and $31,076 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $44,588 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Melvin, the median income for all workers aged 15 years and older, regardless of work hours, was $34,358 for males and $31,076 for females.
- In Melvin, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $44,588 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Melvin, the population is predominantly White, constituting 70.35% 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 $53,595.
- In Melvin, White is both the largest group and the one with the highest median household income, which stands at $53,595.
- In Melvin, the median household income for the households where the householder is White increased by $7,681(16.73%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $45,914 in 2011 and $53,595 in 2021.
- As per the U.S. Census Bureau population data, in Melvin, 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
Melvin, TX median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Melvin increased by $18,905 (57.48%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 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 16,586 (from $35,208 to $51,794). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 6,374 (from $40,263 to $33,889).
- It then further increased to $55,397 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3824, it is evident that income distribution in Melvin, TX exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $40,264.
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