Age of householder
Per the latest American Community Survey by the Census Bureau, Montross sees its highest median household income among householders in the age group of 25 to 44 years old, at $90,376. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Montross, where there exist only two delineated age groups, the median household income is $90,376 for householders within the 25 to 44 years age group, compared to $63,504 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $14,951(19.06%), declining from a median of $78,455 in 2011 to $63,504 in 2021.
- 3(1.69%) households where the householder is under 25 years old.
- 42(23.73%) households with a householder aged between 25 and 44 years.
- 33(18.64%) households with a householder aged between 45 and 64 years.
- 99(55.93%) households where the householder is over 65 years old.
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Gender
In Montross, the population consists of 220 males (50.23%) and 218 females (49.77%). Here are the primary highlights from the gender-based income distribution analysis:
- In Montross, while the Census reported a median income of $41,726 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 Census reported a median income of $49,391 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Montross, while the Census reported a median income of $41,726 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 Montross, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $49,391 for females, while data for males was unavailable due to an insufficient number of sample observations.
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Race
In Montross, the population is predominantly White, constituting 74.20% 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 $61,402.
- In Montross, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $72,962. This reveals that, while Whites may be the most numerous in Montross, Black or African American households experience greater economic prosperity in terms of median household income.
- In Montross, the median household income for the households where the householder is White decreased by $17,053(21.74%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $78,455 in 2011 and $61,402 in 2021.
- In Montross, the median household income for the households where the householder is Black or African American increased by $38,275(110.34%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $34,687 in 2011 and $72,962 in 2021.
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Year by year
Montross, VA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Montross decreased by $19,933 (24.40%), 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 2020 to 2021, when the median household income increased by 13,589 (from $48,158 to $61,747). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 16,024 (from $73,326 to $57,302).
- It then further increased to $90,226 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5124, it is evident that income distribution in Montross, VA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $83,569. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $32,427.
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