Age of householder
Per the latest American Community Survey by the Census Bureau, Old Mill Creek sees its highest median household income among householders in the age group of 65 years and over old, at $114,647. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Old Mill Creek, the median household income stands at $114,647 for householders within the 65 years and over age group, followed by $75,664 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 $60,801.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $66,702(139.12%), escalating from a median of $47,945 in 2011 to $114,647 in 2021.
- 1(1.23%) households where the householder is under 25 years old.
- 14(17.28%) households with a householder aged between 25 and 44 years.
- 13(16.05%) households with a householder aged between 45 and 64 years.
- 53(65.43%) households where the householder is over 65 years old.
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Gender
In Old Mill Creek, the population consists of 102 males (53.40%) and 89 females (46.60%). Here are the primary highlights from the gender-based income distribution analysis:
- In Old Mill Creek, while the Census reported a median income of $100,153 for all male workers aged 15 years and older, data for females 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 $100,618 for males and $51,794 for females.
- In Old Mill Creek, while the Census reported a median income of $100,153 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Old Mill Creek, among full-time, year-round workers aged 15 years and older, males earned a median income of $100,618, while females earned $51,794, leading to a 49% gender pay gap among full-time workers. This illustrates that women earn 51 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 Old Mill Creek, the population is predominantly White, constituting 93.72% 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 $113,947.
- In Old Mill Creek, White is both the largest group and the one with the highest median household income, which stands at $113,947.
- In Old Mill Creek, the median household income for the households where the householder is White increased by $27,320(31.54%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $86,627 in 2011 and $113,947 in 2021.
- As per the U.S. Census Bureau population data, in Old Mill Creek, 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
Old Mill Creek, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Old Mill Creek increased by $18,654 (19.58%), 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 2018 to 2019, when the median household income increased by 29,080 (from $83,296 to $112,376). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 20,637 (from $122,434 to $101,797).
- It then further increased to $75,664 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2835, it is evident that income distribution in Old Mill Creek, IL exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $53,320.
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