Age of householder
Per the latest American Community Survey by the Census Bureau, Olney Springs sees its highest median household income among householders in the age group of 25 to 44 years old, at $68,233. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Olney Springs, where there exist only two delineated age groups, the median household income is $68,233 for householders within the 25 to 44 years age group, compared to $39,183 for 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 $9,353(31.35%), escalating from a median of $29,830 in 2011 to $39,183 in 2021.
- 1(0.75%) households where the householder is under 25 years old.
- 54(40.30%) households with a householder aged between 25 and 44 years.
- 55(41.04%) households with a householder aged between 45 and 64 years.
- 24(17.91%) households where the householder is over 65 years old.
Read more about Olney Springs, CO median household income by age ➔
Gender
In Olney Springs, the population consists of 368 males (60.93%) and 236 females (39.07%). Here are the primary highlights from the gender-based income distribution analysis:
- In Olney Springs, the median income for all workers aged 15 years and older, regardless of work hours, was $15,845 for males and $13,464 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $47,290 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Olney Springs, the median income for all workers aged 15 years and older, regardless of work hours, was $15,845 for males and $13,464 for females.
- In Olney Springs, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $47,290 for males, while data for females was unavailable due to an insufficient number of sample observations.
Read more about Olney Springs, CO income by gender ➔
Race
In Olney Springs, the population is predominantly White, constituting 80.79% 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 $67,750.
- In Olney Springs, White is both the largest group and the one with the highest median household income, which stands at $67,750.
- In Olney Springs, the median household income for the households where the householder is White increased by $16,536(32.29%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,214 in 2011 and $67,750 in 2021.
- As per the U.S. Census Bureau population data, in Olney Springs, 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.
Read more about Olney Springs, CO median household income by race ➔
Year by year
Olney Springs, CO median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Olney Springs increased by $23,170 (69%), 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 2010 to 2011, when the median household income increased by 14,288 (from $33,578 to $47,866). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 13,127 (from $51,766 to $38,639).
- It then further increased to $68,812 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5064, it is evident that income distribution in Olney Springs, CO exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $27,757.
Read more about Olney Springs, CO median household income ➔