Age of householder
Per the latest American Community Survey by the Census Bureau, New Kent County sees its highest median household income among householders in the age group of 45 to 64 years old, at $137,907. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in New Kent County, the median household income stands at $137,907 for householders within the 45 to 64 years age group, followed by $105,855 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 $67,915.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $32,176(30.43%), escalating from a median of $105,731 in 2011 to $137,907 in 2021.
- 164(1.97%) households where the householder is under 25 years old.
- 2,256(27.16%) households with a householder aged between 25 and 44 years.
- 3,541(42.63%) households with a householder aged between 45 and 64 years.
- 2,345(28.23%) households where the householder is over 65 years old.
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Gender
In New Kent County, the population consists of 11,591 males (51.47%) and 10,928 females (48.53%). Here are the primary highlights from the gender-based income distribution analysis:
- In New Kent County, the median income for all workers aged 15 years and older, regardless of work hours, was $56,525 for males and $41,081 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $73,837 for males and $66,486 for females.
- In New Kent County, the median income for all workers aged 15 years and older, regardless of work hours, was $56,525 for males and $41,081 for females.
- In New Kent County, among full-time, year-round workers aged 15 years and older, males earned a median income of $73,837, while females earned $66,486, resulting in a 10% gender pay gap among full-time workers. This illustrates that women earn 90 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 county of New Kent County.
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Race
In New Kent County, the population is predominantly White, constituting 80.51% 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 $110,346.
- In New Kent 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 $121,289. This reveals that, while Whites may be the most numerous in New Kent County, Two or More Races households experience greater economic prosperity in terms of median household income.
- In New Kent County, the median household income for the households where the householder is White increased by $13,336(13.75%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $97,010 in 2011 and $110,346 in 2021.
- In New Kent County, the median household income for the households where the householder is Black or African American increased by $38,567(59.21%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $65,134 in 2011 and $103,701 in 2021.
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Year by year
New Kent County, VA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for New Kent County increased by $14,605 (15.33%), 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 2019 to 2020, when the median household income increased by 9,761 (from $100,933 to $110,694). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 2,189 (from $93,097 to $90,908).
- It then further increased to $143,071 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3853, it is evident that income distribution in New Kent County, VA exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $122,400. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $37,708.
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