Timken, KS Income

The inflation-adjusted median household income in Timken was $68,233, based on U.S. Census Bureau ACS estimates.
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Updated Dec 15, 2023
Overview
$68,233
Median household income
0.3067
Gini coefficient
45 to 64 years ($76,339)
Highest median income age group
$NA
Income of top 5%

All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates

TABLE OF CONTENTS

Age of householder

Per the latest American Community Survey by the Census Bureau, Timken sees its highest median household income among householders in the age group of 45 to 64 years old, at $76,339. Here are the key highlights for income distribution by age:

  • In terms of income distribution across age cohorts, Timken only reports a median household income of $76,339 among householders in the 45 to 64 years age group.
  • 0 households where the householder is under 25 years old.
  • 1(6.67%) households with a householder aged between 25 and 44 years.
  • 11(73.33%) households with a householder aged between 45 and 64 years.
  • 3(20%) households where the householder is over 65 years old.
The bar chart shows Timken, KS median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
Timken, KS median household income by age of householder: It offers a clear illustration of the differences in median household incomes in Timken, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Timken, KS median household income by age ➔

Race

In Timken, the population is predominantly White, constituting 93.33% 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 $68,233.
  • In Timken, White is both the largest group and the one with the highest median household income, which stands at $68,233.
  • In Timken, the median household income for the households where the householder is White decreased by $37,190(35.28%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $105,423 in 2011 and $68,233 in 2021.
  • As per the U.S. Census Bureau population data, in Timken, 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.
The bar chart shows Timken, KS median household income across all racial categories identified by the U.S. Census Bureau.
Timken, KS median household income diversity across racial categories: Gain insights into economic disparities and trends and explore the variations in median houshold income for diverse racial categories. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Timken, KS median household income by race ➔

Year by year

Timken, KS median household income trends by year, family type and household size (2010-2021):

  • From 2010 to 2021, the median household income for Timken decreased by $47,299 (40.94%), as per the American Community Survey estimates.
  • Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
  • The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 32,163 (from $31,576 to $63,739). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 45,500 (from $105,423 to $59,923).
  • Additionally, the Census Bureau did not report a median household income for larger household sizes.
  • With a Gini coefficient of 0.3067, it is evident that income distribution in Timken, KS exihibits characterstics of moderate equality .
  • NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $23,690.
The line chart shows Timken, KS median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Timken, KS median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Read more about Timken, KS median household income ➔

References

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Timken, KS Demographics

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Median household income of places that contain Timken (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)

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Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.

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