Age of householder
Per the latest American Community Survey by the Census Bureau, Otter Tail Peninsula township sees its highest median household income among householders in the age group of 65 years and over old, at $62,152. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Otter Tail Peninsula township, where there exist only two delineated age groups, the median household income is $62,152 for householders within the 65 years and over age group, compared to $41,885 for the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $19,408(31.66%), declining from a median of $61,293 in 2011 to $41,885 in 2021.
- 0 households where the householder is under 25 years old.
- 5(16.13%) households with a householder aged between 25 and 44 years.
- 14(45.16%) households with a householder aged between 45 and 64 years.
- 12(38.71%) households where the householder is over 65 years old.
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Gender
In Otter Tail Peninsula township, the population consists of 28 males (51.85%) and 26 females (48.15%). Here are the primary highlights from the gender-based income distribution analysis:
- In Otter Tail Peninsula township, the median income for all workers aged 15 years and older, regardless of work hours, was $29,725 for males and $31,076 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
- In Otter Tail Peninsula township, the median income for all workers aged 15 years and older, regardless of work hours, was $29,725 for males and $31,076 for females.
- In Otter Tail Peninsula township, for full-time, year-round workers aged 15 years and older, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
Read more about Otter Tail Peninsula Township, Minnesota income by gender ➔
Race
In Otter Tail Peninsula township, the population is predominantly White, constituting 96.30% 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 $53,370.
- In Otter Tail Peninsula township, White is both the largest group and the one with the highest median household income, which stands at $53,370.
- In Otter Tail Peninsula township, the median household income for the households where the householder is White decreased by $16,095(23.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $69,465 in 2011 and $53,370 in 2021.
- As per the U.S. Census Bureau population data, in Otter Tail Peninsula 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
Otter Tail Peninsula Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Otter Tail Peninsula township decreased by $12,407 (18.86%), 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 8,403 (from $55,199 to $63,602). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 8,953 (from $62,323 to $53,370).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4739, it is evident that income distribution in Otter Tail Peninsula Township, Minnesota exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $36,644.
Read more about Otter Tail Peninsula Township, Minnesota median household income ➔