Age of householder
Per the latest American Community Survey by the Census Bureau, Oak Park township sees its highest median household income among householders in the age group of 65 years and over old, at $227,330. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Oak Park township, the median household income stands at $227,330 for householders within the 65 years and over age group, followed by $192,537 for the 25 to 44 years age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $120,251.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $105,365(120.87%), escalating from a median of $87,172 in 2011 to $192,537 in 2021.
- 0 households where the householder is under 25 years old.
- 10(37.04%) households with a householder aged between 25 and 44 years.
- 10(37.04%) households with a householder aged between 45 and 64 years.
- 7(25.93%) households where the householder is over 65 years old.
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Gender
In Oak Park township, the population consists of 36 males (42.35%) and 49 females (57.65%). Here are the primary highlights from the gender-based income distribution analysis:
- In Oak Park township, the median income for all workers aged 15 years and older, regardless of work hours, was $87,824 for males and $20,267 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $104,038 for males and $87,149 for females.
- In Oak Park township, the median income for all workers aged 15 years and older, regardless of work hours, was $87,824 for males and $20,267 for females.
- In Oak Park township, among full-time, year-round workers aged 15 years and older, males earned a median income of $104,038, while females earned $87,149, leading to a 16% gender pay gap among full-time workers. This illustrates that women earn 84 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Oak Park township, the population is predominantly White, constituting 100% 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 $133,087.
- In Oak Park township, White is both the largest group and the one with the highest median household income, which stands at $133,087.
- In Oak Park township, the median household income for the households where the householder is White increased by $45,007(51.10%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $88,080 in 2011 and $133,087 in 2021.
- As per the U.S. Census Bureau population data, in Oak Park township, 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
Oak Park Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Oak Park township increased by $41,730 (45.68%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 81,033 (from $52,054 to $133,087). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 17,276 (from $100,863 to $83,587).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.3123, it is evident that income distribution in Oak Park Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $46,084.
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