Age of householder
Per the latest American Community Survey by the Census Bureau, Morrison sees its highest median household income among householders in the age group of 45 to 64 years old, at $98,093. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Morrison, where there exist only two delineated age groups, the median household income is $98,093 for householders within the 45 to 64 years age group, compared to $55,397 for the 25 to 44 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $33,327(51.46%), escalating from a median of $64,766 in 2011 to $98,093 in 2021.
- 2(5%) households where the householder is under 25 years old.
- 10(25%) households with a householder aged between 25 and 44 years.
- 20(50%) households with a householder aged between 45 and 64 years.
- 8(20%) households where the householder is over 65 years old.
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Gender
In Morrison, the population consists of 57 males (53.77%) and 49 females (46.23%). Here are the primary highlights from the gender-based income distribution analysis:
- In Morrison, the Census Bureau did not report the median income for all workers aged 15 years and older, regardless of work hours, for both males and females 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 $52,694 for males and $78,771 for females.
- In Morrison, the Census Bureau did not report the median income for all workers aged 15 years and older, regardless of work hours, for both males and females due to an insufficient number of sample observations.
- In Morrison, among full-time, year-round workers aged 15 years and older, males earned a median income of $52,694, while females earned $78,771
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Race
In Morrison, the population is predominantly White, constituting 98.11% 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 $83,771.
- In Morrison, White is both the largest group and the one with the highest median household income, which stands at $83,771.
- In Morrison, the median household income for the households where the householder is White increased by $18,626(28.59%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $65,145 in 2011 and $83,771 in 2021.
- As per the U.S. Census Bureau population data, in Morrison, 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
Morrison, IA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Morrison increased by $18,837 (29.01%), 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 2020 to 2021, when the median household income increased by 25,698 (from $58,073 to $83,771). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 25,351 (from $69,687 to $44,336).
- It then further decreased to 70,259 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2992, it is evident that income distribution in Morrison, IA exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $89,175. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $35,130.
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