Age of householder
Per the latest American Community Survey by the Census Bureau, Split Rock township sees its highest median household income among householders in the age group of 25 to 44 years old, at $81,068. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Split Rock township only reports a median household income of $81,068 among householders in the 25 to 44 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $21,682(36.51%), escalating from a median of $59,386 in 2011 to $81,068 in 2021.
- 6(7.59%) households where the householder is under 25 years old.
- 10(12.66%) households with a householder aged between 25 and 44 years.
- 38(48.10%) households with a householder aged between 45 and 64 years.
- 25(31.65%) households where the householder is over 65 years old.
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Gender
In Split Rock township, the population consists of 87 males (52.73%) and 78 females (47.27%). Here are the primary highlights from the gender-based income distribution analysis:
- In Split Rock township, the median income for all workers aged 15 years and older, regardless of work hours, was $47,741 for males and $21,111 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $55,397 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Split Rock township, the median income for all workers aged 15 years and older, regardless of work hours, was $47,741 for males and $21,111 for females.
- In Split Rock township, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $55,397 for females, while data for males was unavailable due to an insufficient number of sample observations.
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Race
In Split Rock township, the population is predominantly White, constituting 100% 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 $61,026.
- In Split Rock township, White is both the largest group and the one with the highest median household income, which stands at $61,026.
- In Split Rock township, the median household income for the households where the householder is White increased by $26,293(75.70%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $34,733 in 2011 and $61,026 in 2021.
- As per the U.S. Census Bureau population data, in Split Rock township, 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.
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Year by year
Split Rock Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Split Rock township increased by $20,125 (49.20%), 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 2017 to 2018, when the median household income increased by 19,887 (from $54,641 to $74,528). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 10,268 (from $71,294 to $61,026).
- It then further increased to $69,584 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4529, it is evident that income distribution in Split Rock Township, Minnesota exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $45,669.
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