Age of householder
Per the latest American Community Survey by the Census Bureau, Royal Lakes sees its highest median household income among householders in the age group of 65 years and over old, at $28,104. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Royal Lakes, where there exist only two delineated age groups, the median household income is $28,104 for householders within the 65 years and over age group, compared to $17,565 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $14,392(33.87%), declining from a median of $42,496 in 2011 to $28,104 in 2021.
- 3(2.31%) households where the householder is under 25 years old.
- 2(1.54%) households with a householder aged between 25 and 44 years.
- 79(60.77%) households with a householder aged between 45 and 64 years.
- 46(35.38%) households where the householder is over 65 years old.
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Gender
In Royal Lakes, the population consists of 121 males (39.67%) and 184 females (60.33%). Here are the primary highlights from the gender-based income distribution analysis:
- In Royal Lakes, while the Census reported a median income of $20,819 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
- In Royal Lakes, while the Census reported a median income of $20,819 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Royal Lakes, for full-time, year-round workers aged 15 years and older, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
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Race
In Royal Lakes, the population is predominantly Black or African American, constituting 73.77% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $13,437.
- In Royal Lakes, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $54,946. This reveals that, while Black or African Americans may be the most numerous in Royal Lakes, White households experience greater economic prosperity in terms of median household income.
- In Royal Lakes, the median household income for the households where the householder is White decreased by $32,226(36.97%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $87,172 in 2011 and $54,946 in 2021.
- In Royal Lakes, the median household income for the households where the householder is Black or African American decreased by $21,377(61.40%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $34,814 in 2011 and $13,437 in 2021.
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Year by year
Royal Lakes, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Royal Lakes decreased by $27,769 (58.80%), 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 2012 to 2013, when the median household income increased by 7,676 (from $36,969 to $44,645). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 12,937 (from $35,343 to $22,406).
- It then further increased to $41,885 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4428, it is evident that income distribution in Royal Lakes, IL exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $61,187.
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