Age of householder
Per the latest American Community Survey by the Census Bureau, Spring Bay sees its highest median household income among householders in the age group of 25 to 44 years old, at $52,019. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Spring Bay, the median household income stands at $52,019 for householders within the 25 to 44 years age group, followed by $46,839 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $31,076.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $19,352(27.11%), declining from a median of $71,371 in 2011 to $52,019 in 2021.
- 2(1.07%) households where the householder is under 25 years old.
- 48(25.67%) households with a householder aged between 25 and 44 years.
- 68(36.36%) households with a householder aged between 45 and 64 years.
- 69(36.90%) households where the householder is over 65 years old.
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Gender
In Spring Bay, the population consists of 242 males (55.25%) and 196 females (44.75%). Here are the primary highlights from the gender-based income distribution analysis:
- In Spring Bay, the median income for all workers aged 15 years and older, regardless of work hours, was $37,832 for males and $20,943 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $43,236 for males and $46,614 for females.
- In Spring Bay, the median income for all workers aged 15 years and older, regardless of work hours, was $37,832 for males and $20,943 for females.
- In Spring Bay, among full-time, year-round workers aged 15 years and older, males earned a median income of $43,236, while females earned $46,614
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Race
In Spring Bay, the population is predominantly White, constituting 97.26% 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 $43,236.
- In Spring Bay, White is both the largest group and the one with the highest median household income, which stands at $43,236.
- In Spring Bay, the median household income for the households where the householder is White decreased by $29,147(40.27%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $72,383 in 2011 and $43,236 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
Spring Bay, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Spring Bay decreased by $33,222 (43.58%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 2 years and declined for 9 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 6,587 (from $58,847 to $65,434). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 15,805 (from $58,453 to $42,648).
- It then further increased to $144,032 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4478, it is evident that income distribution in Spring Bay, IL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $66,206. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $20,943.
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