Age of householder
Per the latest American Community Survey by the Census Bureau, Riverdale Park sees its highest median household income among householders in the age group of under 25 years old, at $157,660. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Riverdale Park, householders within the under 25 years age group have the highest median household income at $157,660, followed by those in the 45 to 64 years age group with an income of $117,249. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $79,069. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $58,887.
- Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $87,786(125.63%), escalating from a median of $69,874 in 2011 to $157,660 in 2021.
- 114(5.36%) households where the householder is under 25 years old.
- 827(38.86%) households with a householder aged between 25 and 44 years.
- 988(46.43%) households with a householder aged between 45 and 64 years.
- 199(9.35%) households where the householder is over 65 years old.
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Gender
In Riverdale Park, the population consists of 4,076 males (55.68%) and 3,245 females (44.32%). Here are the primary highlights from the gender-based income distribution analysis:
- In Riverdale Park, the median income for all workers aged 15 years and older, regardless of work hours, was $43,955 for males and $33,452 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,468 for males and $71,610 for females.
- In Riverdale Park, the median income for all workers aged 15 years and older, regardless of work hours, was $43,955 for males and $33,452 for females.
- In Riverdale Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $53,468, while females earned $71,610
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Race
In Riverdale Park, the population is predominantly some other race, constituting 44.46% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for some other race households is $72,691.
- In Riverdale Park, despite the some other race population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $270,229. This reveals that, while some other races may be the most numerous in Riverdale Park, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Riverdale Park, the median household income for the households where the householder is White increased by $59,201(78.31%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $75,595 in 2011 and $134,796 in 2021.
- In Riverdale Park, the median household income for the households where the householder is Black or African American increased by $13,714(20.13%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $68,112 in 2011 and $81,826 in 2021.
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Year by year
Riverdale Park, MD median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Riverdale Park increased by $25,464 (36.66%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 8,633 (from $75,243 to $83,876). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 1,970 (from $72,403 to $70,433).
- It then further increased to $86,900 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4268, it is evident that income distribution in Riverdale Park, MD exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $106,794. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $38,990.
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