Age of householder
Per the latest American Community Survey by the Census Bureau, Patrick sees its highest median household income among householders in the age group of 65 years and over old, at $24,514. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Patrick only reports a median household income of $24,514 among householders in the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $15,040(38.02%), declining from a median of $39,554 in 2011 to $24,514 in 2021.
- 0 households where the householder is under 25 years old.
- 40(18.69%) households with a householder aged between 25 and 44 years.
- 107(50%) households with a householder aged between 45 and 64 years.
- 67(31.31%) households where the householder is over 65 years old.
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Gender
In Patrick, the population consists of 202 males (50.88%) and 195 females (49.12%). Here are the primary highlights from the gender-based income distribution analysis:
- In Patrick, the median income for all workers aged 15 years and older, regardless of work hours, was $19,535 for males and $18,478 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $66,476 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Patrick, the median income for all workers aged 15 years and older, regardless of work hours, was $19,535 for males and $18,478 for females.
- In Patrick, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $66,476 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Patrick, the population is predominantly White, constituting 67.25% 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 $24,861.
- In Patrick, White is both the largest group and the one with the highest median household income, which stands at $24,861.
- In Patrick, the median household income for the households where the householder is White decreased by $17,338(41.09%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $42,199 in 2011 and $24,861 in 2021.
- In Patrick, the median household income for Black or African American households was $37,865 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Patrick, SC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Patrick decreased by $10,150 (28.25%), 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 2020 to 2021, when the median household income increased by 9,551 (from $16,224 to $25,775). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 14,883 (from $40,479 to $25,596).
- It then further increased to $174,297 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5043, it is evident that income distribution in Patrick, SC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $62,951. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $16,364.
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