Age of householder
Per the latest American Community Survey by the Census Bureau, South Floral Park sees its highest median household income among householders in the age group of 45 to 64 years old, at $174,355. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in South Floral Park, the median household income stands at $174,355 for householders within the 45 to 64 years age group, followed by $108,694 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $101,560.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $54,221(45.13%), escalating from a median of $120,134 in 2011 to $174,355 in 2021.
- 15(2.53%) households where the householder is under 25 years old.
- 145(24.45%) households with a householder aged between 25 and 44 years.
- 244(41.15%) households with a householder aged between 45 and 64 years.
- 189(31.87%) households where the householder is over 65 years old.
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Gender
In South Floral Park, the population consists of 955 males (49.77%) and 964 females (50.23%). Here are the primary highlights from the gender-based income distribution analysis:
- In South Floral Park, the median income for all workers aged 15 years and older, regardless of work hours, was $58,232 for males and $49,869 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,311 for males and $68,338 for females.
- In South Floral Park, the median income for all workers aged 15 years and older, regardless of work hours, was $58,232 for males and $49,869 for females.
- In South Floral Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $58,311, while females earned $68,338
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Race
In South Floral Park, the population is predominantly Black or African American, constituting 48.51% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $135,790.
- In South Floral Park, despite the Black or African American population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $174,591. This reveals that, while Black or African Americans may be the most numerous in South Floral Park, Some Other Race households experience greater economic prosperity in terms of median household income.
- In South Floral Park, the median household income for the households where the householder is White decreased by $5,039(4.62%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $108,964 in 2011 and $103,925 in 2021.
- In South Floral Park, the median household income for the households where the householder is Black or African American increased by $17,811(15.10%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $117,979 in 2011 and $135,790 in 2021.
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Year by year
South Floral Park, NY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for South Floral Park decreased by $5,132 (4.45%), 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 2014 to 2015, when the median household income increased by 9,112 (from $103,935 to $113,047). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 9,880 (from $113,815 to $103,935).
- It then further increased to $174,473 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3295, it is evident that income distribution in South Floral Park, NY exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $143,672. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $103,813.
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