New Hanover Township, New Jersey Income

The inflation-adjusted median household income in New Hanover township was $117,426, based on U.S. Census Bureau ACS estimates.
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Updated Dec 15, 2023
Overview
$117,426
Median household income
0.3455
Gini coefficient
45 to 64 years ($145,653)
Highest median income age group
$343,165
Income of top 5%

All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates

Age of householder

Per the latest American Community Survey by the Census Bureau, New Hanover township sees its highest median household income among householders in the age group of 45 to 64 years old, at $145,653. Here are the key highlights for income distribution by age:

  • In terms of income distribution across age cohorts, in New Hanover township, the median household income stands at $145,653 for householders within the 45 to 64 years age group, followed by $119,351 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 $102,011.
  • Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $64,433(117.33%), escalating from a median of $54,918 in 2011 to $119,351 in 2021.
  • 0 households where the householder is under 25 years old.
  • 302(55.51%) households with a householder aged between 25 and 44 years.
  • 200(36.76%) households with a householder aged between 45 and 64 years.
  • 42(7.72%) households where the householder is over 65 years old.
The bar chart shows New Hanover Township, New Jersey median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
New Hanover Township, New Jersey median household income by age of householder: It offers a clear illustration of the differences in median household incomes in New Hanover township, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about New Hanover Township, New Jersey median household income by age ➔

Gender

In New Hanover township, the population consists of 6,191 males (85.02%) and 1,091 females (14.98%). Here are the primary highlights from the gender-based income distribution analysis:

  • In New Hanover township, the median income for all workers aged 15 years and older, regardless of work hours, was $23,194 for males and $35,306 for females.
  • However, when specifically considering full-time, year-round workers within the same age group, the median income was $28,937 for males and $41,114 for females.
  • In New Hanover township, the median income for all workers aged 15 years and older, regardless of work hours, was $23,194 for males and $35,306 for females.
  • In New Hanover township, among full-time, year-round workers aged 15 years and older, males earned a median income of $28,937, while females earned $41,114
Line chart showing the annual median income trends in New Hanover Township, New Jersey for males and females across four employment categories: (1) Males in full-time year-round positions, (2) Males in non-full-time roles (part-time and other employment types), (3) Females in full-time year-round positions, and (4) Females in non-full-time roles (part-time and other employment types).
New Hanover Township, New Jersey gender based income disparity: Gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals, in 2022 inflation adjusted dollars. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about New Hanover Township, New Jersey income by gender ➔

Race

In New Hanover township, the population is predominantly White, constituting 53.97% 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 $120,251.
  • In New Hanover township, White is both the largest group and the one with the highest median household income, which stands at $120,251.
  • In New Hanover township, the median household income for the households where the householder is White increased by $37,710(45.69%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $82,541 in 2011 and $120,251 in 2021.
  • In New Hanover township, the median household income for Black or African American households was $110,306 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
The bar chart shows New Hanover Township, New Jersey median household income across all racial categories identified by the U.S. Census Bureau.
New Hanover Township, New Jersey median household income diversity across racial categories: Gain insights into economic disparities and trends and explore the variations in median houshold income for diverse racial categories. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about New Hanover Township, New Jersey median household income by race ➔

Year by year

New Hanover Township, New Jersey median household income trends by year, family type and household size (2010-2021):

  • From 2010 to 2021, the median household income for New Hanover township increased by $31,347 (36.42%), 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 2011 to 2012, when the median household income increased by 15,749 (from $93,778 to $109,527). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 4,819 (from $107,978 to $103,159).
  • It then further decreased to 114,847 for 5-person households, the largest household size for which the bureau reported a median household income.
  • With a Gini coefficient of 0.3455, it is evident that income distribution in New Hanover Township, New Jersey exihibits characterstics of moderate equality .
  • For the family households, the median income (in 2022 inflation-adjusted dollars) was $112,955. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $192,200.
The line chart shows New Hanover Township, New Jersey median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
New Hanover Township, New Jersey median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about New Hanover Township, New Jersey median household income ➔

References

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