Age of householder
Per the latest American Community Survey by the Census Bureau, Nelson Park township sees its highest median household income among householders in the age group of 25 to 44 years old, at $83,771. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Nelson Park township, where there exist only two delineated age groups, the median household income is $83,771 for householders within the 25 to 44 years age group, compared to $56,256 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $18,930(25.18%), declining from a median of $75,186 in 2011 to $56,256 in 2021.
- 0 households where the householder is under 25 years old.
- 6(11.54%) households with a householder aged between 25 and 44 years.
- 20(38.46%) households with a householder aged between 45 and 64 years.
- 26(50%) households where the householder is over 65 years old.
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Gender
In Nelson Park township, the population consists of 74 males (53.24%) and 65 females (46.76%). Here are the primary highlights from the gender-based income distribution analysis:
- In Nelson Park township, the median income for all workers aged 15 years and older, regardless of work hours, was $28,734 for males and $25,221 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $60,801 for males and $60,801 for females.
- In Nelson Park township, the median income for all workers aged 15 years and older, regardless of work hours, was $28,734 for males and $25,221 for females.
- In Nelson Park township, for all full-time workers aged 15 years and older, the median income was equal at, $60,801 for both males and females. This indicates a gender income balance in Nelson Park township, where both men and women, in full-time year-round roles, earn an equal income.
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Race
In Nelson Park township, the population is predominantly White, constituting 99.28% 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 $55,847.
- In Nelson Park township, White is both the largest group and the one with the highest median household income, which stands at $55,847.
- In Nelson Park township, the median household income for the households where the householder is White increased by $3,778(7.26%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $52,069 in 2011 and $55,847 in 2021.
- As per the U.S. Census Bureau population data, in Nelson Park township, 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
Nelson Park Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Nelson Park township increased by $3,081 (5.84%), 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 2011 to 2012, when the median household income increased by 21,177 (from $52,069 to $73,246). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 20,630 (from $83,833 to $63,203).
- It then further increased to $55,847 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.428, it is evident that income distribution in Nelson Park Township, Minnesota exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $44,270.
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