Age of householder
Per the latest American Community Survey by the Census Bureau, Summit township sees its highest median household income among householders in the age group of 45 to 64 years old, at $133,087. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Summit township, where there exist only two delineated age groups, the median household income is $133,087 for householders within the 45 to 64 years age group, compared to $45,263 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $58,447(78.31%), escalating from a median of $74,640 in 2011 to $133,087 in 2021.
- 0 households where the householder is under 25 years old.
- 2(2.44%) households with a householder aged between 25 and 44 years.
- 37(45.12%) households with a householder aged between 45 and 64 years.
- 43(52.44%) households where the householder is over 65 years old.
Read more about Summit township, Potter County, Pennsylvania median household income by age ➔
Gender
In Summit township, the population consists of 88 males (48.62%) and 93 females (51.38%). Here are the primary highlights from the gender-based income distribution analysis:
- In Summit township, the median income for all workers aged 15 years and older, regardless of work hours, was $46,614 for males and $13,222 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
- In Summit township, the median income for all workers aged 15 years and older, regardless of work hours, was $46,614 for males and $13,222 for females.
- In Summit township, for full-time, year-round workers aged 15 years and older, the Census Bureau did not report the median income for both males and females due to an insufficient number of sample observations.
Read more about Summit township, Potter County, Pennsylvania income by gender ➔
Race
In Summit township, the population is predominantly White, constituting 73.48% 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 $47,290.
- In Summit township, White is both the largest group and the one with the highest median household income, which stands at $47,290.
- In Summit township, the median household income for the households where the householder is White decreased by $11,551(19.63%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $58,841 in 2011 and $47,290 in 2021.
- As per the U.S. Census Bureau population data, in Summit 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.
Read more about Summit township, Potter County, Pennsylvania median household income by race ➔
Year by year
Summit township, Potter County, Pennsylvania median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Summit township increased by $11,111 (20.17%), 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 2019 to 2020, when the median household income increased by 10,883 (from $55,689 to $66,572). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 11,060 (from $65,167 to $54,107).
- It then further increased to $159,435 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.6218, it is evident that income distribution in Summit township, Potter County, Pennsylvania exihibits characterstics of high inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $47,186.
Read more about Summit township, Potter County, Pennsylvania median household income ➔