Age of householder
Per the latest American Community Survey by the Census Bureau, Shrewsbury township sees its highest median household income among householders in the age group of 45 to 64 years old, at $95,159. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Shrewsbury township, the median household income stands at $95,159 for householders within the 45 to 64 years age group, followed by $90,358 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 $60,801.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $23,788(33.33%), escalating from a median of $71,371 in 2011 to $95,159 in 2021.
- 12(2.15%) households where the householder is under 25 years old.
- 159(28.49%) households with a householder aged between 25 and 44 years.
- 277(49.64%) households with a householder aged between 45 and 64 years.
- 110(19.71%) households where the householder is over 65 years old.
Read more about Shrewsbury Township, New Jersey median household income by age ➔
Gender
In Shrewsbury township, the population consists of 678 males (48.29%) and 726 females (51.71%). Here are the primary highlights from the gender-based income distribution analysis:
- In Shrewsbury township, the median income for all workers aged 15 years and older, regardless of work hours, was $50,186 for males and $32,878 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $56,981 for males and $46,749 for females.
- In Shrewsbury township, the median income for all workers aged 15 years and older, regardless of work hours, was $50,186 for males and $32,878 for females.
- In Shrewsbury township, among full-time, year-round workers aged 15 years and older, males earned a median income of $56,981, while females earned $46,749, leading to a 18% gender pay gap among full-time workers. This illustrates that women earn 82 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
Read more about Shrewsbury Township, New Jersey income by gender ➔
Race
In Shrewsbury township, the population is predominantly White, constituting 48.72% 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 $94,670.
- In Shrewsbury township, White is both the largest group and the one with the highest median household income, which stands at $94,670.
- In Shrewsbury township, the median household income for the households where the householder is White increased by $11,829(14.28%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $82,841 in 2011 and $94,670 in 2021.
- In Shrewsbury township, the median household income for the households where the householder is Black or African American increased by $40,412(75.55%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $53,492 in 2011 and $93,904 in 2021.
Read more about Shrewsbury Township, New Jersey median household income by race ➔
Year by year
Shrewsbury Township, New Jersey median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Shrewsbury township increased by $19,791 (28.45%), 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 2019 to 2020, when the median household income increased by 16,481 (from $74,442 to $90,923). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 6,974 (from $71,786 to $64,812).
- It then further increased to $93,904 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3744, it is evident that income distribution in Shrewsbury Township, New Jersey exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $93,597. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $63,504.
Read more about Shrewsbury Township, New Jersey median household income ➔