Age of householder
Per the latest American Community Survey by the Census Bureau, Nantucket County sees its highest median household income among householders in the age group of 45 to 64 years old, at $139,708. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Nantucket County, the median household income stands at $139,708 for householders within the 45 to 64 years age group, followed by $124,691 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $89,452.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $37,149(71.03%), escalating from a median of $52,303 in 2011 to $89,452 in 2021.
- 22(0.55%) households where the householder is under 25 years old.
- 830(20.59%) households with a householder aged between 25 and 44 years.
- 1,926(47.78%) households with a householder aged between 45 and 64 years.
- 1,253(31.08%) households where the householder is over 65 years old.
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Gender
In Nantucket County, the population consists of 7,605 males (55.13%) and 6,190 females (44.87%). Here are the primary highlights from the gender-based income distribution analysis:
- In Nantucket County, the median income for all workers aged 15 years and older, regardless of work hours, was $54,214 for males and $41,259 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $68,979 for males and $77,764 for females.
- In Nantucket County, the median income for all workers aged 15 years and older, regardless of work hours, was $54,214 for males and $41,259 for females.
- In Nantucket County, among full-time, year-round workers aged 15 years and older, males earned a median income of $68,979, while females earned $77,764
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Race
In Nantucket County, the population is predominantly White, constituting 75.77% 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 $129,237.
- In Nantucket County, 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 $208,591. This reveals that, while Whites may be the most numerous in Nantucket County, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Nantucket County, the median household income for the households where the householder is White increased by $16,036(14.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $113,201 in 2011 and $129,237 in 2021.
- In Nantucket County, the median household income for the households where the householder is Black or African American decreased by $57,061(52.89%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $107,892 in 2011 and $50,831 in 2021.
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Year by year
Nantucket County, MA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Nantucket County increased by $13,544 (12.04%), 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 2017 to 2018, when the median household income increased by 12,840 (from $110,111 to $122,951). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 4,112 (from $111,117 to $107,005).
- It then further increased to $191,672 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4803, it is evident that income distribution in Nantucket County, MA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $131,372. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $59,901.
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