Age of householder
Per the latest American Community Survey by the Census Bureau, New Limerick town sees its highest median household income among householders in the age group of 25 to 44 years old, at $71,070. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in New Limerick town, where there exist only two delineated age groups, the median household income is $71,070 for householders within the 25 to 44 years age group, compared to $47,965 for the 65 years and over age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $20,684(41.05%), escalating from a median of $50,386 in 2011 to $71,070 in 2021.
- 2(1.16%) households where the householder is under 25 years old.
- 37(21.51%) households with a householder aged between 25 and 44 years.
- 62(36.05%) households with a householder aged between 45 and 64 years.
- 71(41.28%) households where the householder is over 65 years old.
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Gender
In New Limerick town, the population consists of 192 males (41.11%) and 275 females (58.89%). Here are the primary highlights from the gender-based income distribution analysis:
- In New Limerick town, the median income for all workers aged 15 years and older, regardless of work hours, was $46,614 for males and $22,834 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $66,206 for males and $30,776 for females.
- In New Limerick town, the median income for all workers aged 15 years and older, regardless of work hours, was $46,614 for males and $22,834 for females.
- In New Limerick town, among full-time, year-round workers aged 15 years and older, males earned a median income of $66,206, while females earned $30,776, leading to a 54% gender pay gap among full-time workers. This illustrates that women earn 46 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In New Limerick town, the population is predominantly White, constituting 86.08% 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 $49,378.
- In New Limerick town, White is both the largest group and the one with the highest median household income, which stands at $49,378.
- In New Limerick town, the median household income for the households where the householder is White decreased by $829(1.65%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $50,207 in 2011 and $49,378 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
New Limerick, Maine median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for New Limerick town decreased by $2,274 (4.40%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 5,980 (from $53,426 to $59,406). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 2,941 (from $54,540 to $51,599).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4995, it is evident that income distribution in New Limerick, Maine exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $18,704.
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