Age of householder
Per the latest American Community Survey by the Census Bureau, Phoenix sees its highest median household income among householders in the age group of 25 to 44 years old, at $47,290. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Phoenix, where there exist only two delineated age groups, the median household income is $47,290 for householders within the 25 to 44 years age group, compared to $26,933 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 $7,143(17.79%), escalating from a median of $40,147 in 2011 to $47,290 in 2021.
- 9(1.49%) households where the householder is under 25 years old.
- 118(19.47%) households with a householder aged between 25 and 44 years.
- 240(39.60%) households with a householder aged between 45 and 64 years.
- 239(39.44%) households where the householder is over 65 years old.
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Gender
In Phoenix, the population consists of 600 males (45.66%) and 714 females (54.34%). Here are the primary highlights from the gender-based income distribution analysis:
- In Phoenix, the median income for all workers aged 15 years and older, regardless of work hours, was $30,217 for males and $20,665 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $57,255 for males and $45,638 for females.
- In Phoenix, the median income for all workers aged 15 years and older, regardless of work hours, was $30,217 for males and $20,665 for females.
- In Phoenix, among full-time, year-round workers aged 15 years and older, males earned a median income of $57,255, while females earned $45,638, leading to a 20% gender pay gap among full-time workers. This illustrates that women earn 80 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Phoenix, the population is predominantly Black or African American, constituting 79.45% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $31,076.
- In Phoenix, Black or African American is both the largest group and the one with the highest median household income, which stands at $31,076.
- In Phoenix, the median household income for White households was $104,606 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- In Phoenix, the median household income for the households where the householder is Black or African American decreased by $9,974(24.30%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $41,050 in 2011 and $31,076 in 2021.
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Year by year
Phoenix, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Phoenix decreased by $8,703 (20.34%), 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 2016 to 2017, when the median household income increased by 4,963 (from $41,088 to $46,051). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 7,866 (from $42,376 to $34,510).
- It then further increased to $122,548 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4776, it is evident that income distribution in Phoenix, IL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $50,469. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $21,035.
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