Age of householder
Per the latest American Community Survey by the Census Bureau, Myrtle sees its highest median household income among householders in the age group of 45 to 64 years old, at $89,344. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Myrtle, where there exist only two delineated age groups, the median household income is $89,344 for householders within the 45 to 64 years age group, compared to $47,425 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 $31,157(53.55%), escalating from a median of $58,187 in 2011 to $89,344 in 2021.
- 5(2.76%) households where the householder is under 25 years old.
- 77(42.54%) households with a householder aged between 25 and 44 years.
- 69(38.12%) households with a householder aged between 45 and 64 years.
- 30(16.57%) households where the householder is over 65 years old.
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Gender
In Myrtle, the population consists of 301 males (54.53%) and 251 females (45.47%). Here are the primary highlights from the gender-based income distribution analysis:
- In Myrtle, the median income for all workers aged 15 years and older, regardless of work hours, was $34,092 for males and $27,474 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $34,483 for males and $48,959 for females.
- In Myrtle, the median income for all workers aged 15 years and older, regardless of work hours, was $34,092 for males and $27,474 for females.
- In Myrtle, among full-time, year-round workers aged 15 years and older, males earned a median income of $34,483, while females earned $48,959
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Race
In Myrtle, the population is predominantly White, constituting 62.68% 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 $49,799.
- In Myrtle, 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 $65,850. This reveals that, while Whites may be the most numerous in Myrtle, Black or African American households experience greater economic prosperity in terms of median household income.
- In Myrtle, the median household income for the households where the householder is White increased by $16,564(49.84%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $33,235 in 2011 and $49,799 in 2021.
- In Myrtle, the median household income for the households where the householder is Black or African American increased by $38,064(136.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $27,786 in 2011 and $65,850 in 2021.
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Year by year
Myrtle, MS median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Myrtle increased by $22,676 (70.76%), 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 2015 to 2016, when the median household income increased by 10,804 (from $32,004 to $42,808). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 7,677 (from $32,110 to $24,433).
- It then further increased to $73,927 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4095, it is evident that income distribution in Myrtle, MS exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $51,520.
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