Age of householder
Per the latest American Community Survey by the Census Bureau, Soddy-Daisy sees its highest median household income among householders in the age group of 45 to 64 years old, at $69,809. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Soddy-Daisy, the median household income stands at $69,809 for householders within the 45 to 64 years age group, followed by $56,166 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 $48,375.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $6,793(16.34%), escalating from a median of $41,582 in 2011 to $48,375 in 2021.
- 108(2.01%) households where the householder is under 25 years old.
- 1,481(27.62%) households with a householder aged between 25 and 44 years.
- 2,026(37.78%) households with a householder aged between 45 and 64 years.
- 1,747(32.58%) households where the householder is over 65 years old.
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Gender
In Soddy-Daisy, the population consists of 6,599 males (50.41%) and 6,491 females (49.59%). Here are the primary highlights from the gender-based income distribution analysis:
- In Soddy-Daisy, the median income for all workers aged 15 years and older, regardless of work hours, was $39,080 for males and $27,803 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,582 for males and $41,951 for females.
- In Soddy-Daisy, the median income for all workers aged 15 years and older, regardless of work hours, was $39,080 for males and $27,803 for females.
- In Soddy-Daisy, among full-time, year-round workers aged 15 years and older, males earned a median income of $58,582, while females earned $41,951, leading to a 28% gender pay gap among full-time workers. This illustrates that women earn 72 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.
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Race
In Soddy-Daisy, the population is predominantly White, constituting 97.95% 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 $58,806.
- In Soddy-Daisy, White is both the largest group and the one with the highest median household income, which stands at $58,806.
- In Soddy-Daisy, the median household income for the households where the householder is White decreased by $4,711(7.42%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $63,517 in 2011 and $58,806 in 2021.
- In Soddy-Daisy, the median household income for Black or African American households was $34,052 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Soddy-Daisy, TN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Soddy-Daisy decreased by $6,276 (9.68%), 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 2018 to 2019, when the median household income increased by 2,849 (from $52,377 to $55,226). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 6,855 (from $63,125 to $56,270).
- It then further increased to $73,862 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4083, it is evident that income distribution in Soddy-Daisy, TN exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $74,810. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,974.
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