Age of householder
Per the latest American Community Survey by the Census Bureau, Schoolcraft township sees its highest median household income among householders in the age group of 45 to 64 years old, at $102,011. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Schoolcraft township, the median household income stands at $102,011 for householders within the 45 to 64 years age group, followed by $69,809 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 $62,152.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $40,990(67.17%), escalating from a median of $61,021 in 2011 to $102,011 in 2021.
- 0 households where the householder is under 25 years old.
- 15(35.71%) households with a householder aged between 25 and 44 years.
- 17(40.48%) households with a householder aged between 45 and 64 years.
- 10(23.81%) households where the householder is over 65 years old.
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Race
In Schoolcraft township, the population is predominantly White, constituting 86.73% 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 $77,015.
- In Schoolcraft township, White is both the largest group and the one with the highest median household income, which stands at $77,015.
- In Schoolcraft township, the median household income for the households where the householder is White increased by $19,574(34.08%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $57,441 in 2011 and $77,015 in 2021.
- As per the U.S. Census Bureau population data, in Schoolcraft 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
Schoolcraft Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Schoolcraft township increased by $17,984 (30.47%), 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 2018 to 2019, when the median household income increased by 11,144 (from $59,184 to $70,328). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 11,838 (from $69,170 to $57,332).
- It then further increased to $104,938 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2657, it is evident that income distribution in Schoolcraft Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $36,819.
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