Age of householder
Per the latest American Community Survey by the Census Bureau, Petersburg sees its highest median household income among householders in the age group of 25 to 44 years old, at $66,206. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Petersburg, where there exist only two delineated age groups, the median household income is $66,206 for householders within the 25 to 44 years age group, compared to $22,969 for the 65 years and over age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $33,843(104.57%), escalating from a median of $32,363 in 2011 to $66,206 in 2021.
- 1(1.75%) households where the householder is under 25 years old.
- 12(21.05%) households with a householder aged between 25 and 44 years.
- 17(29.82%) households with a householder aged between 45 and 64 years.
- 27(47.37%) households where the householder is over 65 years old.
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Gender
In Petersburg, the population consists of 49 males (43.36%) and 64 females (56.64%). Here are the primary highlights from the gender-based income distribution analysis:
- In Petersburg, the median income for all workers aged 15 years and older, regardless of work hours, was $59,901 for males and $23,420 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $70,259 for males and $47,290 for females.
- In Petersburg, the median income for all workers aged 15 years and older, regardless of work hours, was $59,901 for males and $23,420 for females.
- In Petersburg, among full-time, year-round workers aged 15 years and older, males earned a median income of $70,259, while females earned $47,290, leading to a 33% gender pay gap among full-time workers. This illustrates that women earn 67 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Petersburg, the population is predominantly White, constituting 84.07% 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 $46,839.
- In Petersburg, White is both the largest group and the one with the highest median household income, which stands at $46,839.
- In Petersburg, the median household income for the households where the householder is White decreased by $6,009(11.37%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $52,848 in 2011 and $46,839 in 2021.
- As per the U.S. Census Bureau population data, in Petersburg, 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
Petersburg, ND median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Petersburg decreased by $14,777 (23.89%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 18,549 (from $51,811 to $70,360). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 15,702 (from $63,152 to $47,450).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4467, it is evident that income distribution in Petersburg, ND exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $95,255. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $22,969.
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