Age of householder
Per the latest American Community Survey by the Census Bureau, Swea City sees its highest median household income among householders in the age group of 45 to 64 years old, at $52,919. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Swea City, the median household income stands at $52,919 for householders within the 45 to 64 years age group, followed by $46,390 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $45,939.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $2,275(5.21%), escalating from a median of $43,664 in 2011 to $45,939 in 2021.
- 15(5.12%) households where the householder is under 25 years old.
- 84(28.67%) households with a householder aged between 25 and 44 years.
- 113(38.57%) households with a householder aged between 45 and 64 years.
- 81(27.65%) households where the householder is over 65 years old.
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Gender
In Swea City, the population consists of 341 males (46.14%) and 398 females (53.86%). Here are the primary highlights from the gender-based income distribution analysis:
- In Swea City, the median income for all workers aged 15 years and older, regardless of work hours, was $39,183 for males and $25,419 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $47,891 for males and $47,051 for females.
- In Swea City, the median income for all workers aged 15 years and older, regardless of work hours, was $39,183 for males and $25,419 for females.
- In Swea City, among full-time, year-round workers aged 15 years and older, males earned a median income of $47,891, while females earned $47,051, resulting in a 2% gender pay gap among full-time workers. This illustrates that women earn 98 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the city of Swea City.
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Race
In Swea City, the population is predominantly White, constituting 81.19% 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 $48,261.
- In Swea City, White is both the largest group and the one with the highest median household income, which stands at $48,261.
- In Swea City, the median household income for the households where the householder is White decreased by $2,408(4.75%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $50,669 in 2011 and $48,261 in 2021.
- As per the U.S. Census Bureau population data, in Swea City, 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
Swea City, IA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Swea City decreased by $4,335 (8.42%), 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 2019 to 2020, when the median household income increased by 7,863 (from $41,712 to $49,575). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 8,372 (from $47,424 to $39,052).
- It then further increased to $70,935 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4013, it is evident that income distribution in Swea City, IA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $46,035. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $47,225.
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