Age of householder
Per the latest American Community Survey by the Census Bureau, Red Springs town sees its highest median household income among householders in the age group of 45 to 64 years old, at $96,877. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Red Springs town, the median household income stands at $96,877 for householders within the 45 to 64 years age group, followed by $58,099 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $36,256.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $31,498(48.18%), escalating from a median of $65,379 in 2011 to $96,877 in 2021.
- 7(2.20%) households where the householder is under 25 years old.
- 57(17.92%) households with a householder aged between 25 and 44 years.
- 151(47.48%) households with a householder aged between 45 and 64 years.
- 103(32.39%) households where the householder is over 65 years old.
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Gender
In Red Springs town, the population consists of 439 males (52.39%) and 399 females (47.61%). Here are the primary highlights from the gender-based income distribution analysis:
- In Red Springs town, the median income for all workers aged 15 years and older, regardless of work hours, was $49,655 for males and $31,633 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $62,230 for males and $51,805 for females.
- In Red Springs town, the median income for all workers aged 15 years and older, regardless of work hours, was $49,655 for males and $31,633 for females.
- In Red Springs town, among full-time, year-round workers aged 15 years and older, males earned a median income of $62,230, while females earned $51,805, leading to a 17% gender pay gap among full-time workers. This illustrates that women earn 83 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 Red Springs town, the population is predominantly American Indian and Alaska Native, constituting 47.97% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for American Indian and Alaska Native households is $85,122.
- In Red Springs town, American Indian and Alaska Native is both the largest group and the one with the highest median household income, which stands at $85,122.
- In Red Springs town, the median household income for the households where the householder is White increased by $4,067(6.12%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $66,400 in 2011 and $70,467 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
Red Springs, Wisconsin median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Red Springs town increased by $16,421 (29.13%), 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 2016 to 2017, when the median household income increased by 10,157 (from $56,567 to $66,724). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 5,062 (from $54,959 to $49,897).
- It then further increased to $76,678 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4022, it is evident that income distribution in Red Springs, Wisconsin exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $93,229. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $33,508.
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