Age of householder
Per the latest American Community Survey by the Census Bureau, Norwood Court sees its highest median household income among householders in the age group of 65 years and over old, at $56,554. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Norwood Court, householders within the 65 years and over age group have the highest median household income at $56,554, followed by those in the 45 to 64 years age group with an income of $40,684. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $38,926. Notably, householders within the under 25 years age group, had the lowest median household income at $23,104.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $14,466(34.37%), escalating from a median of $42,088 in 2011 to $56,554 in 2021.
- 51(7.86%) households where the householder is under 25 years old.
- 320(49.31%) households with a householder aged between 25 and 44 years.
- 207(31.90%) households with a householder aged between 45 and 64 years.
- 71(10.94%) households where the householder is over 65 years old.
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Gender
In Norwood Court, the population consists of 389 males (39.53%) and 595 females (60.47%). Here are the primary highlights from the gender-based income distribution analysis:
- In Norwood Court, the median income for all workers aged 15 years and older, regardless of work hours, was $43,133 for males and $33,817 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,999 for males and $38,371 for females.
- In Norwood Court, the median income for all workers aged 15 years and older, regardless of work hours, was $43,133 for males and $33,817 for females.
- In Norwood Court, among full-time, year-round workers aged 15 years and older, males earned a median income of $58,999, while females earned $38,371, leading to a 35% gender pay gap among full-time workers. This illustrates that women earn 65 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 Norwood Court, the population is predominantly Black or African American, constituting 79.27% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $38,669.
- In Norwood Court, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $38,871. This reveals that, while Black or African Americans may be the most numerous in Norwood Court, White households experience greater economic prosperity in terms of median household income.
- In Norwood Court, the median household income for the households where the householder is White decreased by $8,529(17.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $47,400 in 2011 and $38,871 in 2021.
- In Norwood Court, the median household income for the households where the householder is Black or African American decreased by $2,958(7.11%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $41,627 in 2011 and $38,669 in 2021.
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Year by year
Norwood Court, MO median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Norwood Court decreased by $4,621 (10.61%), 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 2016 to 2017, when the median household income increased by 4,501 (from $37,687 to $42,188). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 2,427 (from $42,015 to $39,588).
- It then further increased to $61,612 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2984, it is evident that income distribution in Norwood Court, MO exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $25,672.
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