Age of householder
Per the latest American Community Survey by the Census Bureau, Springtown sees its highest median household income among householders in the age group of 65 years and over old, at $137,141. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Springtown, where there exist only two delineated age groups, the median household income is $137,141 for householders within the 65 years and over age group, compared to $86,896 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $129,786(1764.60%), escalating from a median of $7,355 in 2011 to $137,141 in 2021.
- 0 households where the householder is under 25 years old.
- 6(11.54%) households with a householder aged between 25 and 44 years.
- 31(59.62%) households with a householder aged between 45 and 64 years.
- 15(28.85%) households where the householder is over 65 years old.
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Gender
In Springtown, the population consists of 66 males (51.56%) and 62 females (48.44%). Here are the primary highlights from the gender-based income distribution analysis:
- In Springtown, while the Census reported a median income of $36,674 for all female workers aged 15 years and older, data for males 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 $95,255 for males and $41,548 for females.
- In Springtown, while the Census reported a median income of $36,674 for all female workers aged 15 years and older, data for males in the same category was unavailable due to an insufficient number of sample observations.
- In Springtown, among full-time, year-round workers aged 15 years and older, males earned a median income of $95,255, while females earned $41,548, leading to a 56% gender pay gap among full-time workers. This illustrates that women earn 44 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Springtown, the population is predominantly White, constituting 44.53% 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 $64,855.
- In Springtown, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $88,162. This reveals that, while Whites may be the most numerous in Springtown, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Springtown, the median household income for the households where the householder is White increased by $39,684(157.66%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $25,171 in 2011 and $64,855 in 2021.
- As per the U.S. Census Bureau population data, in Springtown, 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
Springtown, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Springtown increased by $68,512 (361.06%), 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 2016 to 2017, when the median household income increased by 51,122 (from $61,154 to $112,276). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 22,405 (from $112,276 to $89,871).
- It then further increased to $87,401 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2524, it is evident that income distribution in Springtown, AR exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $41,170.
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