Age of householder
Per the latest American Community Survey by the Census Bureau, Sycamore sees its highest median household income among householders in the age group of 25 to 44 years old, at $128,358. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Sycamore, where there exist only two delineated age groups, the median household income is $128,358 for householders within the 25 to 44 years age group, compared to $101,336 for the 45 to 64 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $54,807(74.52%), escalating from a median of $73,551 in 2011 to $128,358 in 2021.
- 0 households where the householder is under 25 years old.
- 11(13.92%) households with a householder aged between 25 and 44 years.
- 30(37.97%) households with a householder aged between 45 and 64 years.
- 38(48.10%) households where the householder is over 65 years old.
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Gender
In Sycamore, the population consists of 63 males (45.65%) and 75 females (54.35%). Here are the primary highlights from the gender-based income distribution analysis:
- In Sycamore, while the Census reported a median income of $36,030 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 $86,743 for males and $59,180 for females.
- In Sycamore, while the Census reported a median income of $36,030 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 Sycamore, among full-time, year-round workers aged 15 years and older, males earned a median income of $86,743, while females earned $59,180, leading to a 32% gender pay gap among full-time workers. This illustrates that women earn 68 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 Sycamore, the population is predominantly White, constituting 77.54% 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 $66,206.
- In Sycamore, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $143,800. This reveals that, while Whites may be the most numerous in Sycamore, Black or African American households experience greater economic prosperity in terms of median household income.
- In Sycamore, the median household income for the households where the householder is White decreased by $8,746(11.67%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $74,952 in 2011 and $66,206 in 2021.
- In Sycamore, the median household income for the households where the householder is Black or African American increased by $82,507(134.61%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $61,293 in 2011 and $143,800 in 2021.
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Year by year
Sycamore, KY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Sycamore increased by $4,134 (5.80%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 5,310 (from $63,602 to $68,912). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 9,592 (from $84,986 to $75,394).
- It then further increased to $99,647 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3818, it is evident that income distribution in Sycamore, KY exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $112,145. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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