Age of householder
Per the latest American Community Survey by the Census Bureau, River Falls town sees its highest median household income among householders in the age group of 45 to 64 years old, at $133,524. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in River Falls town, householders within the 45 to 64 years age group have the highest median household income at $133,524, followed by those in the 25 to 44 years age group with an income of $103,475. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $62,828. Notably, householders within the under 25 years age group, had the lowest median household income at $55,667.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $11,342(12.31%), escalating from a median of $92,133 in 2011 to $103,475 in 2021.
- 12(1.56%) households where the householder is under 25 years old.
- 167(21.66%) households with a householder aged between 25 and 44 years.
- 390(50.58%) households with a householder aged between 45 and 64 years.
- 202(26.20%) households where the householder is over 65 years old.
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Gender
In River Falls town, the population consists of 1,014 males (47.88%) and 1,104 females (52.12%). Here are the primary highlights from the gender-based income distribution analysis:
- In River Falls town, the median income for all workers aged 15 years and older, regardless of work hours, was $54,586 for males and $39,386 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $66,461 for males and $58,775 for females.
- In River Falls town, the median income for all workers aged 15 years and older, regardless of work hours, was $54,586 for males and $39,386 for females.
- In River Falls town, among full-time, year-round workers aged 15 years and older, males earned a median income of $66,461, while females earned $58,775, resulting in a 12% gender pay gap among full-time workers. This illustrates that women earn 88 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of River Falls town.
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Race
In River Falls town, the population is predominantly White, constituting 96.65% 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 $101,818.
- In River Falls town, White is both the largest group and the one with the highest median household income, which stands at $101,818.
- In River Falls town, the median household income for the households where the householder is White decreased by $998(0.97%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $102,816 in 2011 and $101,818 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
River Falls Town, Wisconsin median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for River Falls town decreased by $644 (0.63%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 4,835 (from $97,747 to $102,582). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 6,222 (from $102,816 to $96,594).
- It then further increased to $132,637 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3843, it is evident that income distribution in River Falls Town, Wisconsin exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $114,510. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $47,830.
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