Age of householder
Per the latest American Community Survey by the Census Bureau, Springfield sees its highest median household income among householders in the age group of 45 to 64 years old, at $43,086. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Springfield, where there exist only two delineated age groups, the median household income is $43,086 for householders within the 45 to 64 years age group, compared to $30,316 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $4,461(17.25%), escalating from a median of $25,855 in 2011 to $30,316 in 2021.
- 1(0.51%) households where the householder is under 25 years old.
- 58(29.74%) households with a householder aged between 25 and 44 years.
- 65(33.33%) households with a householder aged between 45 and 64 years.
- 71(36.41%) households where the householder is over 65 years old.
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Gender
In Springfield, the population consists of 268 males (49.08%) and 278 females (50.92%). Here are the primary highlights from the gender-based income distribution analysis:
- In Springfield, while the Census reported a median income of $39,634 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $55,650 for males and $42,635 for females.
- In Springfield, while the Census reported a median income of $39,634 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Springfield, among full-time, year-round workers aged 15 years and older, males earned a median income of $55,650, while females earned $42,635, leading to a 23% gender pay gap among full-time workers. This illustrates that women earn 77 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 Springfield, the population is predominantly White, constituting 52.01% 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 not available from the U.S. Census Bureau, possibly due to insufficient sample size, confidentiality or privacy constraints..
- In Springfield, despite the White population being the most populous, there is no income data available in the latest American Community Survey for it. Based on analysis from all of the data that is available, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $35,940. This reveals that, while Whites may be the most numerous in Springfield, Black or African American households experience greater economic prosperity in terms of median household income.
- In Springfield, the median household income for White households was $68,102 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- In Springfield, the median household income for the households where the householder is Black or African American increased by $10,115(39.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $25,825 in 2011 and $35,940 in 2021.
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Year by year
Springfield, SC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Springfield decreased by $1,517 (3.56%), 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 2010 to 2011, when the median household income increased by 20,477 (from $42,614 to $63,091). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 13,070 (from $65,641 to $52,571).
- It then further increased to $98,182 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4587, it is evident that income distribution in Springfield, SC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $60,801. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $26,460.
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