Age of householder
Per the latest American Community Survey by the Census Bureau, New Auburn township sees its highest median household income among householders in the age group of 25 to 44 years old, at $119,171. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in New Auburn township, where there exist only two delineated age groups, the median household income is $119,171 for householders within the 25 to 44 years age group, compared to $109,442 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $20,091(22.49%), escalating from a median of $89,351 in 2011 to $109,442 in 2021.
- 8(5.26%) households where the householder is under 25 years old.
- 31(20.39%) households with a householder aged between 25 and 44 years.
- 69(45.39%) households with a householder aged between 45 and 64 years.
- 44(28.95%) households where the householder is over 65 years old.
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Gender
In New Auburn township, the population consists of 188 males (50.00%) and 188 females (50.00%). Here are the primary highlights from the gender-based income distribution analysis:
- In New Auburn township, the median income for all workers aged 15 years and older, regardless of work hours, was $55,802 for males and $45,939 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $61,661 for males and $59,064 for females.
- In New Auburn township, the median income for all workers aged 15 years and older, regardless of work hours, was $55,802 for males and $45,939 for females.
- In New Auburn township, among full-time, year-round workers aged 15 years and older, males earned a median income of $61,661, while females earned $59,064, resulting in a 4% gender pay gap among full-time workers. This illustrates that women earn 96 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the township of New Auburn township.
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Race
In New Auburn township, the population is predominantly White, constituting 98.94% 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 $88,838.
- In New Auburn township, White is both the largest group and the one with the highest median household income, which stands at $88,838.
- In New Auburn township, the median household income for the households where the householder is White increased by $1,557(1.78%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $87,281 in 2011 and $88,838 in 2021.
- As per the U.S. Census Bureau population data, in New Auburn 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
New Auburn Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for New Auburn township increased by $4,002 (4.70%), 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 2013 to 2014, when the median household income increased by 11,643 (from $78,330 to $89,973). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 9,446 (from $89,973 to $80,527).
- It then further increased to $121,265 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4294, it is evident that income distribution in New Auburn Township, Minnesota exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $114,847. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $30,063.
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