Age of householder
Per the latest American Community Survey by the Census Bureau, Mount Olive sees its highest median household income among householders in the age group of 65 years and over old, at $57,175. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Mount Olive only reports a median household income of $57,175 among householders in the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $33,639(142.93%), escalating from a median of $23,536 in 2011 to $57,175 in 2021.
- 0 households where the householder is under 25 years old.
- 257(51.61%) households with a householder aged between 25 and 44 years.
- 151(30.32%) households with a householder aged between 45 and 64 years.
- 90(18.07%) households where the householder is over 65 years old.
Read more about Mount Olive, MS median household income by age ➔
Gender
In Mount Olive, the population consists of 557 males (39.56%) and 851 females (60.44%). Here are the primary highlights from the gender-based income distribution analysis:
- In Mount Olive, the median income for all workers aged 15 years and older, regardless of work hours, was $47,869 for males and $19,592 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $60,608 for males and $30,250 for females.
- In Mount Olive, the median income for all workers aged 15 years and older, regardless of work hours, was $47,869 for males and $19,592 for females.
- In Mount Olive, among full-time, year-round workers aged 15 years and older, males earned a median income of $60,608, while females earned $30,250, leading to a 50% gender pay gap among full-time workers. This illustrates that women earn 50 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.
Read more about Mount Olive, MS income by gender ➔
Race
In Mount Olive, the population is predominantly Black or African American, constituting 71.24% 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 not available from the U.S. Census Bureau, possibly due to insufficient sample size, confidentiality or privacy constraints..
- In Mount Olive, despite the Black or African American population being the most populous, there is no income data available in the latest American Community Survey for it. Based on analysis from all of the data that is available, it is worth noting that White households actually reports the highest median household income, with a median income of $66,206. This reveals that, while Black or African Americans may be the most numerous in Mount Olive, White households experience greater economic prosperity in terms of median household income.
- In Mount Olive, the median household income for the households where the householder is White increased by $19,170(40.76%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $47,036 in 2011 and $66,206 in 2021.
- In Mount Olive, the median household income for Black or African American households was $23,922 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
Read more about Mount Olive, MS median household income by race ➔
Year by year
Mount Olive, MS median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Mount Olive increased by $18,677 (47.12%), 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 2018 to 2019, when the median household income increased by 17,336 (from $37,410 to $54,746). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 10,660 (from $39,635 to $28,975).
- It then further increased to $111,867 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5001, it is evident that income distribution in Mount Olive, MS exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $75,704. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $27,091.
Read more about Mount Olive, MS median household income ➔