Age of householder
Per the latest American Community Survey by the Census Bureau, Mound City sees its highest median household income among householders in the age group of 25 to 44 years old, at $70,935. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Mound City, the median household income stands at $70,935 for householders within the 25 to 44 years age group, followed by $68,908 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $17,565.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $32,933(86.66%), escalating from a median of $38,002 in 2011 to $70,935 in 2021.
- 1(0.46%) households where the householder is under 25 years old.
- 69(31.80%) households with a householder aged between 25 and 44 years.
- 85(39.17%) households with a householder aged between 45 and 64 years.
- 62(28.57%) households where the householder is over 65 years old.
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Gender
In Mound City, the population consists of 386 males (51.74%) and 360 females (48.26%). Here are the primary highlights from the gender-based income distribution analysis:
- In Mound City, the median income for all workers aged 15 years and older, regardless of work hours, was $23,146 for males and $31,383 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $49,433 for males and $31,383 for females.
- In Mound City, the median income for all workers aged 15 years and older, regardless of work hours, was $23,146 for males and $31,383 for females.
- In Mound City, among full-time, year-round workers aged 15 years and older, males earned a median income of $49,433, while females earned $31,383, leading to a 37% gender pay gap among full-time workers. This illustrates that women earn 63 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 Mound City, the population is predominantly White, constituting 58.85% 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 $68,307.
- In Mound City, White is both the largest group and the one with the highest median household income, which stands at $68,307.
- In Mound City, the median household income for the households where the householder is White increased by $30,598(81.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $37,709 in 2011 and $68,307 in 2021.
- In Mound City, the median household income for the households where the householder is Black or African American decreased by $12,488(30.56%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $40,862 in 2011 and $28,374 in 2021.
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Year by year
Mound City, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Mound City increased by $12,212 (32.32%), 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 10,586 (from $31,610 to $42,196). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 6,590 (from $38,200 to $31,610).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4497, it is evident that income distribution in Mound City, IL exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $20,079.
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