Age of householder
Per the latest American Community Survey by the Census Bureau, New Hope town sees its highest median household income among householders in the age group of 25 to 44 years old, at $96,269. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in New Hope town, the median household income stands at $96,269 for householders within the 25 to 44 years age group, followed by $81,744 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $46,904.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $710(0.73%), declining from a median of $96,979 in 2011 to $96,269 in 2021.
- 0 households where the householder is under 25 years old.
- 54(19.29%) households with a householder aged between 25 and 44 years.
- 117(41.79%) households with a householder aged between 45 and 64 years.
- 109(38.93%) households where the householder is over 65 years old.
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Gender
In New Hope town, the population consists of 342 males (52.13%) and 314 females (47.87%). Here are the primary highlights from the gender-based income distribution analysis:
- In New Hope town, the median income for all workers aged 15 years and older, regardless of work hours, was $47,535 for males and $35,940 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $61,072 for males and $51,343 for females.
- In New Hope town, the median income for all workers aged 15 years and older, regardless of work hours, was $47,535 for males and $35,940 for females.
- In New Hope town, among full-time, year-round workers aged 15 years and older, males earned a median income of $61,072, while females earned $51,343, leading to a 16% gender pay gap among full-time workers. This illustrates that women earn 84 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In New Hope town, the population is predominantly White, constituting 99.39% 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 $73,975.
- In New Hope town, White is both the largest group and the one with the highest median household income, which stands at $73,975.
- In New Hope town, the median household income for the households where the householder is White decreased by $16,029(17.81%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $90,004 in 2011 and $73,975 in 2021.
- As per the U.S. Census Bureau population data, in New Hope town, 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 Hope, Wisconsin median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for New Hope town decreased by $15,508 (17.33%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2013 to 2014, when the median household income increased by 4,562 (from $82,641 to $87,203). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 8,169 (from $81,941 to $73,772).
- It then further increased to $173,911 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4234, it is evident that income distribution in New Hope, Wisconsin exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $96,775. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,786.
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