Age of householder
Per the latest American Community Survey by the Census Bureau, Oil Trough sees its highest median household income among householders in the age group of 65 years and over old, at $33,779. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Oil Trough only reports a median household income of $33,779 among householders in the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $5,176(18.10%), escalating from a median of $28,603 in 2011 to $33,779 in 2021.
- 1(1.33%) households where the householder is under 25 years old.
- 9(12%) households with a householder aged between 25 and 44 years.
- 32(42.67%) households with a householder aged between 45 and 64 years.
- 33(44%) households where the householder is over 65 years old.
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Gender
In Oil Trough, the population consists of 93 males (49.21%) and 96 females (50.79%). Here are the primary highlights from the gender-based income distribution analysis:
- In Oil Trough, while the Census reported a median income of $17,565 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $68,457 for males and $39,859 for females.
- In Oil Trough, while the Census reported a median income of $17,565 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- In Oil Trough, among full-time, year-round workers aged 15 years and older, males earned a median income of $68,457, while females earned $39,859, leading to a 42% gender pay gap among full-time workers. This illustrates that women earn 58 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 Oil Trough, the population is predominantly White, constituting 87.30% 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 $40,534.
- In Oil Trough, White is both the largest group and the one with the highest median household income, which stands at $40,534.
- In Oil Trough, the median household income for the households where the householder is White increased by $2,124(5.53%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $38,410 in 2011 and $40,534 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
Oil Trough, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Oil Trough decreased by $2,381 (5.65%), 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 2013 to 2014, when the median household income increased by 8,181 (from $32,669 to $40,850). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 8,374 (from $48,158 to $39,784).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4646, it is evident that income distribution in Oil Trough, AR exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $32,934.
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