Age of householder
Per the latest American Community Survey by the Census Bureau, Shaokatan township sees its highest median household income among householders in the age group of 25 to 44 years old, at $72,962. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Shaokatan township, where there exist only two delineated age groups, the median household income is $72,962 for householders within the 25 to 44 years age group, compared to $60,801 for the 65 years and over age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $4,781(7.01%), escalating from a median of $68,181 in 2011 to $72,962 in 2021.
- 0 households where the householder is under 25 years old.
- 22(31.88%) households with a householder aged between 25 and 44 years.
- 33(47.83%) households with a householder aged between 45 and 64 years.
- 14(20.29%) households where the householder is over 65 years old.
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Gender
In Shaokatan township, the population consists of 105 males (53.85%) and 90 females (46.15%). Here are the primary highlights from the gender-based income distribution analysis:
- In Shaokatan township, the median income for all workers aged 15 years and older, regardless of work hours, was $74,313 for males and $34,229 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $77,353 for males and $41,885 for females.
- In Shaokatan township, the median income for all workers aged 15 years and older, regardless of work hours, was $74,313 for males and $34,229 for females.
- In Shaokatan township, among full-time, year-round workers aged 15 years and older, males earned a median income of $77,353, while females earned $41,885, leading to a 46% gender pay gap among full-time workers. This illustrates that women earn 54 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Shaokatan township, the population is predominantly White, constituting 100% 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 $78,029.
- In Shaokatan township, White is both the largest group and the one with the highest median household income, which stands at $78,029.
- In Shaokatan township, the median household income for the households where the householder is White decreased by $7,509(8.78%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $85,538 in 2011 and $78,029 in 2021.
- As per the U.S. Census Bureau population data, in Shaokatan 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
Shaokatan Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Shaokatan township increased by $7,985 (11.40%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2010 to 2011, when the median household income increased by 15,494 (from $70,044 to $85,538). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 15,677 (from $85,538 to $69,861).
- It then further increased to $270,229 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3928, it is evident that income distribution in Shaokatan Township, Minnesota exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $104,038. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $44,926.
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