Age of householder
Per the latest American Community Survey by the Census Bureau, Royal township sees its highest median household income among householders in the age group of 45 to 64 years old, at $127,683. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Royal township, where there exist only two delineated age groups, the median household income is $127,683 for householders within the 45 to 64 years age group, compared to $58,775 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $30,160(30.93%), escalating from a median of $97,523 in 2011 to $127,683 in 2021.
- 0 households where the householder is under 25 years old.
- 25(53.19%) households with a householder aged between 25 and 44 years.
- 9(19.15%) households with a householder aged between 45 and 64 years.
- 13(27.66%) households where the householder is over 65 years old.
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Gender
In Royal township, the population consists of 102 males (58.62%) and 72 females (41.38%). Here are the primary highlights from the gender-based income distribution analysis:
- In Royal township, while the Census reported a median income of $41,435 for all female workers aged 15 years and older, data for males 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 median income was $52,919 for males and $48,979 for females.
- In Royal township, while the Census reported a median income of $41,435 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- In Royal township, among full-time, year-round workers aged 15 years and older, males earned a median income of $52,919, while females earned $48,979, resulting in a 7% gender pay gap among full-time workers. This illustrates that women earn 93 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 township of Royal township.
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Race
In Royal township, the population is predominantly White, constituting 97.13% 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 $84,785.
- In Royal township, White is both the largest group and the one with the highest median household income, which stands at $84,785.
- In Royal township, the median household income for the households where the householder is White increased by $32,809(63.12%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,976 in 2011 and $84,785 in 2021.
- As per the U.S. Census Bureau population data, in Royal township, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
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Year by year
Royal Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Royal township increased by $13,225 (18.48%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 20,178 (from $55,421 to $75,599). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 19,584 (from $71,560 to $51,976).
- It then further increased to $132,412 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2894, it is evident that income distribution in Royal Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $60,081.
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