Age of householder
Per the latest American Community Survey by the Census Bureau, New Salem town sees its highest median household income among householders in the age group of 45 to 64 years old, at $88,724. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in New Salem town, the median household income stands at $88,724 for householders within the 45 to 64 years age group, followed by $76,115 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 $52,470.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $3,109(6.30%), escalating from a median of $49,361 in 2011 to $52,470 in 2021.
- 4(0.88%) households where the householder is under 25 years old.
- 20(4.42%) households with a householder aged between 25 and 44 years.
- 309(68.36%) households with a householder aged between 45 and 64 years.
- 119(26.33%) households where the householder is over 65 years old.
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Gender
In New Salem town, the population consists of 598 males (55.78%) and 474 females (44.22%). Here are the primary highlights from the gender-based income distribution analysis:
- In New Salem town, the median income for all workers aged 15 years and older, regardless of work hours, was $38,982 for males and $35,880 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,370 for males and $72,061 for females.
- In New Salem town, the median income for all workers aged 15 years and older, regardless of work hours, was $38,982 for males and $35,880 for females.
- In New Salem town, among full-time, year-round workers aged 15 years and older, males earned a median income of $53,370, while females earned $72,061
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Race
In New Salem town, the population is predominantly White, constituting 78.73% 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 $78,771.
- In New Salem town, White is both the largest group and the one with the highest median household income, which stands at $78,771.
- In New Salem town, the median household income for the households where the householder is White decreased by $5,022(5.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $83,793 in 2011 and $78,771 in 2021.
- As per the U.S. Census Bureau population data, in New Salem 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 Salem, Massachusetts median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for New Salem town decreased by $5,958 (7.18%), 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 2012 to 2013, when the median household income increased by 8,952 (from $82,718 to $91,670). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 12,764 (from $97,627 to $84,863).
- It then further increased to $180,377 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3857, it is evident that income distribution in New Salem, Massachusetts exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $78,366. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $55,397.
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