Age of householder
Per the latest American Community Survey by the Census Bureau, Southwest Harbor town sees its highest median household income among householders in the age group of 25 to 44 years old, at $70,766. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Southwest Harbor town, where there exist only two delineated age groups, the median household income is $70,766 for householders within the 25 to 44 years age group, compared to $32,388 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 $28,678(68.14%), escalating from a median of $42,088 in 2011 to $70,766 in 2021.
- 4(0.56%) households where the householder is under 25 years old.
- 115(16.24%) households with a householder aged between 25 and 44 years.
- 252(35.59%) households with a householder aged between 45 and 64 years.
- 337(47.60%) households where the householder is over 65 years old.
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Gender
In Southwest Harbor town, the population consists of 624 males (40.65%) and 911 females (59.35%). Here are the primary highlights from the gender-based income distribution analysis:
- In Southwest Harbor town, the median income for all workers aged 15 years and older, regardless of work hours, was $42,934 for males and $30,186 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $56,871 for males and $50,361 for females.
- In Southwest Harbor town, the median income for all workers aged 15 years and older, regardless of work hours, was $42,934 for males and $30,186 for females.
- In Southwest Harbor town, among full-time, year-round workers aged 15 years and older, males earned a median income of $56,871, while females earned $50,361, resulting in a 11% gender pay gap among full-time workers. This illustrates that women earn 89 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Southwest Harbor town.
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Race
In Southwest Harbor town, the population is predominantly White, constituting 98.76% 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 $53,080.
- In Southwest Harbor town, White is both the largest group and the one with the highest median household income, which stands at $53,080.
- In Southwest Harbor town, the median household income for the households where the householder is White increased by $7,769(17.15%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $45,311 in 2011 and $53,080 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
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Year by year
Southwest Harbor, Maine median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Southwest Harbor town increased by $4,388 (9.14%), 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 2013 to 2014, when the median household income increased by 10,257 (from $43,809 to $54,066). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 6,518 (from $58,890 to $52,372).
- It then further increased to $77,660 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4503, it is evident that income distribution in Southwest Harbor, Maine exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $77,475. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $25,896.
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