Age of householder
Per the latest American Community Survey by the Census Bureau, Olmos Park sees its highest median household income among householders in the age group of 45 to 64 years old, at $270,229. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Olmos Park, householders within the 45 to 64 years age group have the highest median household income at $270,229, followed by those in the 65 years and over age group with an income of $133,640. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $112,888. Notably, householders within the under 25 years age group, had the lowest median household income at $8,782.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $108,688(67.28%), escalating from a median of $161,541 in 2011 to $270,229 in 2021.
- 54(5.47%) households where the householder is under 25 years old.
- 255(25.81%) households with a householder aged between 25 and 44 years.
- 397(40.18%) households with a householder aged between 45 and 64 years.
- 282(28.54%) households where the householder is over 65 years old.
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Gender
In Olmos Park, the population consists of 1,050 males (43.17%) and 1,382 females (56.83%). Here are the primary highlights from the gender-based income distribution analysis:
- In Olmos Park, the median income for all workers aged 15 years and older, regardless of work hours, was $137,366 for males and $60,583 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $180,377 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Olmos Park, the median income for all workers aged 15 years and older, regardless of work hours, was $137,366 for males and $60,583 for females.
- In Olmos Park, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $180,377 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Olmos Park, the population is predominantly White, constituting 91.49% 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 $158,759.
- In Olmos Park, White is both the largest group and the one with the highest median household income, which stands at $158,759.
- In Olmos Park, the median household income for the households where the householder is White decreased by $1,147(0.72%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $159,906 in 2011 and $158,759 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
Olmos Park, TX median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Olmos Park increased by $8,895 (5.93%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 35,947 (from $160,066 to $196,013). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 25,216 (from $196,013 to $170,797).
- It then further increased to $196,123 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5806, it is evident that income distribution in Olmos Park, TX exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $270,229. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $99,174.
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