Age of householder
Per the latest American Community Survey by the Census Bureau, Ranburne sees its highest median household income among householders in the age group of 45 to 64 years old, at $116,874. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Ranburne, where there exist only two delineated age groups, the median household income is $116,874 for householders within the 45 to 64 years age group, compared to $32,427 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $48,634(71.27%), escalating from a median of $68,240 in 2011 to $116,874 in 2021.
- 0 households where the householder is under 25 years old.
- 56(29.47%) households with a householder aged between 25 and 44 years.
- 66(34.74%) households with a householder aged between 45 and 64 years.
- 68(35.79%) households where the householder is over 65 years old.
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Gender
In Ranburne, the population consists of 292 males (52.14%) and 268 females (47.86%). Here are the primary highlights from the gender-based income distribution analysis:
- In Ranburne, the median income for all workers aged 15 years and older, regardless of work hours, was $54,046 for males and $24,621 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $77,015 for males and $57,246 for females.
- In Ranburne, the median income for all workers aged 15 years and older, regardless of work hours, was $54,046 for males and $24,621 for females.
- In Ranburne, among full-time, year-round workers aged 15 years and older, males earned a median income of $77,015, while females earned $57,246, leading to a 26% gender pay gap among full-time workers. This illustrates that women earn 74 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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Year by year
Ranburne, AL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Ranburne increased by $3,777 (8.42%), 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 2012 to 2013, when the median household income increased by 12,071 (from $49,174 to $61,245). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 10,041 (from $59,507 to $49,466).
- It then further increased to $123,764 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4687, it is evident that income distribution in Ranburne, AL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $97,958. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $24,771.
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