Age of householder
Per the latest American Community Survey by the Census Bureau, Tara township sees its highest median household income among householders in the age group of 65 years and over old, at $149,301. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Tara township, where there exist only two delineated age groups, the median household income is $149,301 for householders within the 65 years and over age group, compared to $146,734 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 $61,585(70.21%), escalating from a median of $87,716 in 2011 to $149,301 in 2021.
- 0 households where the householder is under 25 years old.
- 13(33.33%) households with a householder aged between 25 and 44 years.
- 15(38.46%) households with a householder aged between 45 and 64 years.
- 11(28.21%) households where the householder is over 65 years old.
Read more about Tara township, Swift County, Minnesota median household income by age ➔
Gender
In Tara township, the population consists of 67 males (55.37%) and 54 females (44.63%). Here are the primary highlights from the gender-based income distribution analysis:
- In Tara township, the median income for all workers aged 15 years and older, regardless of work hours, was $76,339 for males and $34,589 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $66,206 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Tara township, the median income for all workers aged 15 years and older, regardless of work hours, was $76,339 for males and $34,589 for females.
- In Tara township, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $66,206 for males, while data for females was unavailable due to an insufficient number of sample observations.
Read more about Tara township, Swift County, Minnesota income by gender ➔
Race
In Tara township, the population is predominantly White, constituting 100% 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 $118,563.
- In Tara township, White is both the largest group and the one with the highest median household income, which stands at $118,563.
- In Tara township, the median household income for the households where the householder is White increased by $22,129(22.95%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $96,434 in 2011 and $118,563 in 2021.
- As per the U.S. Census Bureau population data, in Tara 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 Tara township, Swift County, Minnesota median household income by race ➔
Year by year
Tara township, Swift County, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Tara township increased by $21,303 (21.90%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2018 to 2019, when the median household income increased by 32,753 (from $94,986 to $127,739). Similarly the most substantial year-by-year decline occured from 2016 to 2017, when the median household income decreased by 26,651 (from $114,226 to $87,575).
- It then further decreased to 144,572 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3, it is evident that income distribution in Tara township, Swift County, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $33,103.
Read more about Tara township, Swift County, Minnesota median household income ➔