Smithfield, WV Income

The inflation-adjusted median household income in Smithfield was $15,354, based on U.S. Census Bureau ACS estimates.
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Updated Dec 15, 2023
Overview
$15,354
Median household income
0.4456
Gini coefficient
** (N/A)
Highest median income age group
$NA
Income of top 5%

All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates

TABLE OF CONTENTS

Gender

In Smithfield, the population consists of 68 males (50.75%) and 66 females (49.25%). Here are the primary highlights from the gender-based income distribution analysis:

  • In Smithfield, the median income for all workers aged 15 years and older, regardless of work hours, was $12,680 for males and $10,179 for females.
  • 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 Smithfield, the median income for all workers aged 15 years and older, regardless of work hours, was $12,680 for males and $10,179 for females.
  • In Smithfield, 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.
Line chart showing the annual median income trends in Smithfield, WV for males and females across four employment categories: (1) Males in full-time year-round positions, (2) Males in non-full-time roles (part-time and other employment types), (3) Females in full-time year-round positions, and (4) Females in non-full-time roles (part-time and other employment types).
Smithfield, WV gender based income disparity: Gain insights into gender-based pay disparity trends and explore the variations in income for male and female individuals, in 2022 inflation adjusted dollars. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Smithfield, WV income by gender ➔

Race

In Smithfield, the population is predominantly White, constituting 97.76% 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 $15,354.
  • In Smithfield, White is both the largest group and the one with the highest median household income, which stands at $15,354.
  • In Smithfield, the median household income for the households where the householder is White decreased by $510(3.21%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $15,864 in 2011 and $15,354 in 2021.
  • As per the U.S. Census Bureau population data, in Smithfield, 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.
The bar chart shows Smithfield, WV median household income across all racial categories identified by the U.S. Census Bureau.
Smithfield, WV median household income diversity across racial categories: Gain insights into economic disparities and trends and explore the variations in median houshold income for diverse racial categories. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Smithfield, WV median household income by race ➔

Year by year

Smithfield, WV median household income trends by year, family type and household size (2010-2021):

  • From 2010 to 2021, the median household income for Smithfield increased by $4,054 (35.88%), 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 2010 to 2011, when the median household income increased by 4,564 (from $11,300 to $15,864). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 6,340 (from $24,850 to $18,510).
  • It then further increased to $68,008 for 3-person households, the largest household size for which the bureau reported a median household income.
  • With a Gini coefficient of 0.4456, it is evident that income distribution in Smithfield, WV exihibits characterstics of moderate inequality .
  • NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,050.
The line chart shows Smithfield, WV median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Smithfield, WV median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Smithfield, WV median household income ➔

References

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Smithfield, WV Demographics

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Median household income of places that contain Smithfield (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)

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Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.

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