Age of householder
Per the latest American Community Survey by the Census Bureau, Piermont sees its highest median household income among householders in the age group of 65 years and over old, at $158,534. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Piermont, where there exist only two delineated age groups, the median household income is $158,534 for householders within the 65 years and over age group, compared to $122,720 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $54,118(51.83%), escalating from a median of $104,416 in 2011 to $158,534 in 2021.
- 0 households where the householder is under 25 years old.
- 307(24.94%) households with a householder aged between 25 and 44 years.
- 576(46.79%) households with a householder aged between 45 and 64 years.
- 348(28.27%) households where the householder is over 65 years old.
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Gender
In Piermont, the population consists of 1,299 males (51.45%) and 1,226 females (48.55%). Here are the primary highlights from the gender-based income distribution analysis:
- In Piermont, the median income for all workers aged 15 years and older, regardless of work hours, was $82,904 for males and $73,862 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $83,653 for males and $107,973 for females.
- In Piermont, the median income for all workers aged 15 years and older, regardless of work hours, was $82,904 for males and $73,862 for females.
- In Piermont, among full-time, year-round workers aged 15 years and older, males earned a median income of $83,653, while females earned $107,973
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Race
In Piermont, the population is predominantly White, constituting 81.15% 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 $107,932.
- In Piermont, despite the White population being the most populous, it is worth noting that Asian 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 Piermont, Asian households experience greater economic prosperity in terms of median household income.
- In Piermont, the median household income for the households where the householder is White decreased by $15,030(12.22%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $122,962 in 2011 and $107,932 in 2021.
- In Piermont, the median household income for Black or African American households was $127,007 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
Piermont, NY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Piermont decreased by $402 (0.32%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 12,573 (from $125,209 to $137,782). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 20,872 (from $144,665 to $123,793).
- It then further increased to $194,474 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4291, it is evident that income distribution in Piermont, NY exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $167,144. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $90,526.
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