Age of householder
Per the latest American Community Survey by the Census Bureau, New Lexington sees its highest median household income among householders in the age group of 65 years and over old, at $67,603. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in New Lexington, where there exist only two delineated age groups, the median household income is $67,603 for householders within the 65 years and over age group, compared to $42,878 for the 25 to 44 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $30,272(81.09%), escalating from a median of $37,331 in 2011 to $67,603 in 2021.
- 229(13.42%) households where the householder is under 25 years old.
- 598(35.03%) households with a householder aged between 25 and 44 years.
- 537(31.46%) households with a householder aged between 45 and 64 years.
- 343(20.09%) households where the householder is over 65 years old.
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Gender
In New Lexington, the population consists of 1,951 males (45.01%) and 2,384 females (54.99%). Here are the primary highlights from the gender-based income distribution analysis:
- In New Lexington, the median income for all workers aged 15 years and older, regardless of work hours, was $25,942 for males and $23,023 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $42,726 for males and $36,203 for females.
- In New Lexington, the median income for all workers aged 15 years and older, regardless of work hours, was $25,942 for males and $23,023 for females.
- In New Lexington, among full-time, year-round workers aged 15 years and older, males earned a median income of $42,726, while females earned $36,203, resulting in a 15% gender pay gap among full-time workers. This illustrates that women earn 85 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 village of New Lexington.
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Race
In New Lexington, the population is predominantly White, constituting 97.28% 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 $42,089.
- In New Lexington, White is both the largest group and the one with the highest median household income, which stands at $42,089.
- In New Lexington, the median household income for the households where the householder is White decreased by $10,583(20.09%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $52,672 in 2011 and $42,089 in 2021.
- As per the U.S. Census Bureau population data, in New Lexington, 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 Lexington, OH median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for New Lexington decreased by $1,659 (3.79%), 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 2017 to 2018, when the median household income increased by 5,833 (from $38,488 to $44,321). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 8,715 (from $49,439 to $40,724).
- It then further increased to $86,255 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4709, it is evident that income distribution in New Lexington, OH exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $42,779. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $18,704.
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