Gender
In Novi, the population consists of 31,812 males (48.67%) and 33,557 females (51.33%). Here are the primary highlights from the gender-based income distribution analysis:
- In Novi, the median income for all workers aged 15 years and older, regardless of work hours, was $80,475 for males and $37,983 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $112,151 for males and $70,876 for females.
- In Novi, the median income for all workers aged 15 years and older, regardless of work hours, was $80,475 for males and $37,983 for females.
- In Novi, among full-time, year-round workers aged 15 years and older, males earned a median income of $112,151, while females earned $70,876, leading to a 37% gender pay gap among full-time workers. This illustrates that women earn 63 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.
Read more about Novi, MI income by gender ➔
Race
In Novi, the population is predominantly White, constituting 62.66% 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 $88,601.
- In Novi, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $146,575. This reveals that, while Whites may be the most numerous in Novi, Asian households experience greater economic prosperity in terms of median household income.
- In Novi, there was no reported median household income for White households in 2012. However, in 2022, the median household income increased to $88,601, marking a significant change.
- In Novi, there was no reported median household income for Black or African American households in 2012. However, in 2022, the median household income increased to $89,341, marking a significant change.
Read more about Novi, MI median household income by race ➔
Year by year
Novi, MI median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Novi increased by $281 (0.26%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2018 to 2019, when the median household income increased by 4,515 (from $108,033 to $112,548). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 8,037 (from $108,146 to $100,109).
- It then further decreased to -666,666,666 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4361, it is evident that income distribution in Novi, MI exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $130,241. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $65,200.
Read more about Novi, MI median household income ➔