Age of householder
Per the latest American Community Survey by the Census Bureau, Mount Vernon town sees its highest median household income among householders in the age group of 45 to 64 years old, at $80,618. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Mount Vernon town, the median household income stands at $80,618 for householders within the 45 to 64 years age group, followed by $60,801 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $55,096.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $4,820(5.64%), declining from a median of $85,438 in 2011 to $80,618 in 2021.
- 0 households where the householder is under 25 years old.
- 186(27.97%) households with a householder aged between 25 and 44 years.
- 263(39.55%) households with a householder aged between 45 and 64 years.
- 216(32.48%) households where the householder is over 65 years old.
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Gender
In Mount Vernon town, the population consists of 804 males (49.85%) and 809 females (50.15%). Here are the primary highlights from the gender-based income distribution analysis:
- In Mount Vernon town, the median income for all workers aged 15 years and older, regardless of work hours, was $37,314 for males and $29,950 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $46,518 for males and $56,898 for females.
- In Mount Vernon town, the median income for all workers aged 15 years and older, regardless of work hours, was $37,314 for males and $29,950 for females.
- In Mount Vernon town, among full-time, year-round workers aged 15 years and older, males earned a median income of $46,518, while females earned $56,898
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Race
In Mount Vernon town, the population is predominantly White, constituting 96.40% 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 $59,166.
- In Mount Vernon town, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $148,964. This reveals that, while Whites may be the most numerous in Mount Vernon town, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Mount Vernon town, the median household income for the households where the householder is White decreased by $15,856(21.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $75,022 in 2011 and $59,166 in 2021.
- As per the U.S. Census Bureau population data, in Mount Vernon town, 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
Mount Vernon, Maine median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Mount Vernon town decreased by $17,208 (22.33%), 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 2018 to 2019, when the median household income increased by 7,773 (from $62,197 to $69,970). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 10,994 (from $78,022 to $67,028).
- It then further increased to $94,129 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4393, it is evident that income distribution in Mount Vernon, Maine exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $78,535. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $46,409.
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