Age of householder
Per the latest American Community Survey by the Census Bureau, Mentor-On-The-Lake sees its highest median household income among householders in the age group of 25 to 44 years old, at $74,529. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Mentor-On-The-Lake, householders within the 25 to 44 years age group have the highest median household income at $74,529, followed by those in the 45 to 64 years age group with an income of $61,741. Meanwhile householders within the under 25 years age group report the second lowest median household income of $47,628. Notably, householders within the 65 years and over age group, had the lowest median household income at $40,240.
- Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $13,155(38.16%), escalating from a median of $34,473 in 2011 to $47,628 in 2021.
- 180(5.19%) households where the householder is under 25 years old.
- 871(25.14%) households with a householder aged between 25 and 44 years.
- 1,464(42.25%) households with a householder aged between 45 and 64 years.
- 950(27.42%) households where the householder is over 65 years old.
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Gender
In Mentor-On-The-Lake, the population consists of 3,582 males (50.20%) and 3,553 females (49.80%). Here are the primary highlights from the gender-based income distribution analysis:
- In Mentor-On-The-Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $49,722 for males and $30,744 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $60,656 for males and $47,417 for females.
- In Mentor-On-The-Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $49,722 for males and $30,744 for females.
- In Mentor-On-The-Lake, among full-time, year-round workers aged 15 years and older, males earned a median income of $60,656, while females earned $47,417, leading to a 22% gender pay gap among full-time workers. This illustrates that women earn 78 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Mentor-On-The-Lake, the population is predominantly White, constituting 93.48% 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 $61,256.
- In Mentor-On-The-Lake, White is both the largest group and the one with the highest median household income, which stands at $61,256.
- In Mentor-On-The-Lake, the median household income for the households where the householder is White increased by $459(0.75%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $60,797 in 2011 and $61,256 in 2021.
- In Mentor-On-The-Lake, the median household income for Black or African American households was $67,092 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
Mentor-On-The-Lake, OH median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Mentor-On-The-Lake decreased by $3,635 (5.61%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 6,414 (from $54,789 to $61,203). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 5,222 (from $58,948 to $53,726).
- It then further increased to $91,461 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3862, it is evident that income distribution in Mentor-On-The-Lake, OH exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $82,201. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $51,969.
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