Age of householder
Per the latest American Community Survey by the Census Bureau, Ridgeway sees its highest median household income among householders in the age group of 45 to 64 years old, at $57,059. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Ridgeway, the median household income stands at $57,059 for householders within the 45 to 64 years age group, followed by $42,881 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 $32,277.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $1,813(5.32%), declining from a median of $34,090 in 2011 to $32,277 in 2021.
- 5(1.52%) households where the householder is under 25 years old.
- 83(25.15%) households with a householder aged between 25 and 44 years.
- 135(40.91%) households with a householder aged between 45 and 64 years.
- 107(32.42%) households where the householder is over 65 years old.
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Gender
In Ridgeway, the population consists of 658 males (52.56%) and 594 females (47.44%). Here are the primary highlights from the gender-based income distribution analysis:
- In Ridgeway, the median income for all workers aged 15 years and older, regardless of work hours, was $24,900 for males and $23,375 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $49,992 for males and $40,970 for females.
- In Ridgeway, the median income for all workers aged 15 years and older, regardless of work hours, was $24,900 for males and $23,375 for females.
- In Ridgeway, among full-time, year-round workers aged 15 years and older, males earned a median income of $49,992, while females earned $40,970, leading to a 18% gender pay gap among full-time workers. This illustrates that women earn 82 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 Ridgeway, the population is predominantly White, constituting 62.70% 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 $55,397.
- In Ridgeway, White is both the largest group and the one with the highest median household income, which stands at $55,397.
- In Ridgeway, the median household income for the households where the householder is White decreased by $175(0.31%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $55,572 in 2011 and $55,397 in 2021.
- In Ridgeway, the median household income for the households where the householder is Black or African American decreased by $65,100(66.38%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $98,068 in 2011 and $32,968 in 2021.
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Year by year
Ridgeway, VA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Ridgeway decreased by $13,494 (24.07%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 8,214 (from $37,112 to $45,326). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 11,486 (from $56,276 to $44,790).
- It then further increased to $68,908 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4186, it is evident that income distribution in Ridgeway, VA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $68,136. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $22,680.
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