Age of householder
Per the latest American Community Survey by the Census Bureau, Toms River township sees its highest median household income among householders in the age group of 45 to 64 years old, at $128,311. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Toms River township, the median household income stands at $128,311 for householders within the 45 to 64 years age group, followed by $95,838 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $65,058.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $38,070(42.19%), escalating from a median of $90,241 in 2012 to $128,311 in 2022.
- 116(0.31%) households where the householder is under 25 years old.
- 10,413(28.18%) households with a householder aged between 25 and 44 years.
- 13,787(37.31%) households with a householder aged between 45 and 64 years.
- 12,636(34.20%) households where the householder is over 65 years old.
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Gender
In Toms River township, the population consists of 45,578 males (47.98%) and 49,424 females (52.02%). Here are the primary highlights from the gender-based income distribution analysis:
- In Toms River township, the median income for all workers aged 15 years and older, regardless of work hours, was $56,224 for males and $39,024 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $78,407 for males and $61,085 for females.
- In Toms River township, the median income for all workers aged 15 years and older, regardless of work hours, was $56,224 for males and $39,024 for females.
- In Toms River township, among full-time, year-round workers aged 15 years and older, males earned a median income of $78,407, while females earned $61,085, leading to a 22% gender pay gap among full-time workers. This illustrates that women earn 78 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Toms River township, the population is predominantly White, constituting 84.80% 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 $97,198.
- In Toms River township, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $143,191. This reveals that, while Whites may be the most numerous in Toms River township, Asian households experience greater economic prosperity in terms of median household income.
- In Toms River township, the median household income for the households where the householder is White increased by $18,620(23.70%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $78,578 in 2012 and $97,198 in 2022.
- In Toms River township, the median household income for Black or African American households was $68,295 in 2012(2022 inflation-adjusted dollars). However there is no reported data for 2022, indicating a lack of information for this specific year.
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Year by year
Toms River Township, New Jersey median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Toms River township decreased by $5,259 (5.42%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2016 to 2017, when the median household income increased by 2,799 (from $88,281 to $91,080). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 4,021 (from $95,862 to $91,841).
- It then further increased to $155,819 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4532, it is evident that income distribution in Toms River Township, New Jersey exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $120,663. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $62,128.
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