Age of householder
Per the latest American Community Survey by the Census Bureau, Paxton town sees its highest median household income among householders in the age group of 45 to 64 years old, at $162,088. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Paxton town, the median household income stands at $162,088 for householders within the 45 to 64 years age group, followed by $133,875 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $73,476.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $21,322(40.88%), escalating from a median of $52,154 in 2011 to $73,476 in 2021.
- 0 households where the householder is under 25 years old.
- 503(31.68%) households with a householder aged between 25 and 44 years.
- 633(39.86%) households with a householder aged between 45 and 64 years.
- 452(28.46%) households where the householder is over 65 years old.
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Gender
In Paxton town, the population consists of 2,676 males (53.47%) and 2,329 females (46.53%). Here are the primary highlights from the gender-based income distribution analysis:
- In Paxton town, the median income for all workers aged 15 years and older, regardless of work hours, was $60,612 for males and $33,779 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $84,331 for males and $81,632 for females.
- In Paxton town, the median income for all workers aged 15 years and older, regardless of work hours, was $60,612 for males and $33,779 for females.
- In Paxton town, among full-time, year-round workers aged 15 years and older, males earned a median income of $84,331, while females earned $81,632, resulting in a 3% gender pay gap among full-time workers. This illustrates that women earn 97 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Paxton town.
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Race
In Paxton town, the population is predominantly White, constituting 87.73% 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 $130,333.
- In Paxton town, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $270,229. This reveals that, while Whites may be the most numerous in Paxton town, Black or African American households experience greater economic prosperity in terms of median household income.
- In Paxton town, the median household income for the households where the householder is White decreased by $5,421(3.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $135,754 in 2011 and $130,333 in 2021.
- In Paxton town, the median household income for the households where the householder is Black or African American increased by $263,974(4220.21%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $6,255 in 2011 and $270,229 in 2021.
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Year by year
Paxton, Massachusetts median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Paxton town decreased by $1,389 (1.03%), 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 2018 to 2019, when the median household income increased by 21,565 (from $116,760 to $138,325). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 10,887 (from $134,213 to $123,326).
- It then further increased to $172,367 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3587, it is evident that income distribution in Paxton, Massachusetts exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $157,239. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $86,473.
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