Age of householder
Per the latest American Community Survey by the Census Bureau, Monetta sees its highest median household income among householders in the age group of 45 to 64 years old, at $61,252. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Monetta, where there exist only two delineated age groups, the median household income is $61,252 for householders within the 45 to 64 years age group, compared to $43,236 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $40,122(48.13%), declining from a median of $83,358 in 2011 to $43,236 in 2021.
- 0 households where the householder is under 25 years old.
- 43(35.54%) households with a householder aged between 25 and 44 years.
- 46(38.02%) households with a householder aged between 45 and 64 years.
- 32(26.45%) households where the householder is over 65 years old.
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Gender
In Monetta, the population consists of 100 males (37.88%) and 164 females (62.12%). Here are the primary highlights from the gender-based income distribution analysis:
- In Monetta, while the Census reported a median income of $20,267 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $76,678 for males and $23,593 for females.
- In Monetta, while the Census reported a median income of $20,267 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- In Monetta, among full-time, year-round workers aged 15 years and older, males earned a median income of $76,678, while females earned $23,593, leading to a 69% gender pay gap among full-time workers. This illustrates that women earn 31 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Monetta, the population is predominantly Black or African American, constituting 54.55% 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 $21,987.
- In Monetta, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $52,694. This reveals that, while Black or African Americans may be the most numerous in Monetta, White households experience greater economic prosperity in terms of median household income.
- In Monetta, the median household income for the households where the householder is White decreased by $43,740(45.36%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $96,434 in 2011 and $52,694 in 2021.
- In Monetta, the median household income for the households where the householder is Black or African American decreased by $27,592(55.65%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $49,579 in 2011 and $21,987 in 2021.
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Year by year
Monetta, SC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Monetta decreased by $61,343 (63.14%), 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 8,407 (from $38,178 to $46,585). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 24,729 (from $65,450 to $40,721).
- It then further increased to $73,412 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3738, it is evident that income distribution in Monetta, SC exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $46,390. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $30,497.
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