Age of householder
Per the latest American Community Survey by the Census Bureau, Platte County sees its highest median household income among householders in the age group of 45 to 64 years old, at $102,923. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Platte County, householders within the 45 to 64 years age group have the highest median household income at $102,923, followed by those in the 25 to 44 years age group with an income of $102,743. Meanwhile householders within the under 25 years age group report the second lowest median household income of $70,907. Notably, householders within the 65 years and over age group, had the lowest median household income at $59,633.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $21,528(26.51%), escalating from a median of $81,215 in 2012 to $102,743 in 2022.
- 1,664(3.87%) households where the householder is under 25 years old.
- 15,134(35.19%) households with a householder aged between 25 and 44 years.
- 16,005(37.21%) households with a householder aged between 45 and 64 years.
- 10,206(23.73%) households where the householder is over 65 years old.
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Gender
In Platte County, the population consists of 52,192 males (49.62%) and 52,997 females (50.38%). Here are the primary highlights from the gender-based income distribution analysis:
- In Platte County, the median income for all workers aged 15 years and older, regardless of work hours, was $52,151 for males and $36,718 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $71,711 for males and $53,492 for females.
- In Platte County, the median income for all workers aged 15 years and older, regardless of work hours, was $52,151 for males and $36,718 for females.
- In Platte County, among full-time, year-round workers aged 15 years and older, males earned a median income of $71,711, while females earned $53,492, leading to a 25% gender pay gap among full-time workers. This illustrates that women earn 75 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 Platte County, the population is predominantly White, constituting 82.52% 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 $93,015.
- In Platte County, 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 $100,118. This reveals that, while Whites may be the most numerous in Platte County, Asian households experience greater economic prosperity in terms of median household income.
- In Platte County, the median household income for the households where the householder is White increased by $3,755(4.21%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $89,260 in 2012 and $93,015 in 2022.
- In Platte County, the median household income for the households where the householder is Black or African American increased by $38,188(98.51%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $38,766 in 2012 and $76,954 in 2022.
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Year by year
Platte County, MO median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Platte County increased by $2,929 (3.29%), 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 2018 to 2019, when the median household income increased by 2,394 (from $89,915 to $92,309). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 2,045 (from $88,982 to $86,937).
- It then further increased to $109,842 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4465, it is evident that income distribution in Platte County, MO exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $113,946. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $49,744.
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