Age of householder
Per the latest American Community Survey by the Census Bureau, Toronto sees its highest median household income among householders in the age group of 65 years and over old, at $57,423. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Toronto, where there exist only two delineated age groups, the median household income is $57,423 for householders within the 65 years and over age group, compared to $40,197 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 $25,387(79.25%), escalating from a median of $32,036 in 2011 to $57,423 in 2021.
- 0 households where the householder is under 25 years old.
- 0 households with a householder aged between 25 and 44 years.
- 21(50%) households with a householder aged between 45 and 64 years.
- 21(50%) households where the householder is over 65 years old.
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Gender
In Toronto, the population consists of 46 males (54.12%) and 39 females (45.88%). Here are the primary highlights from the gender-based income distribution analysis:
- In Toronto, the median income for all workers aged 15 years and older, regardless of work hours, was $33,441 for males and $21,618 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $49,092 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Toronto, the median income for all workers aged 15 years and older, regardless of work hours, was $33,441 for males and $21,618 for females.
- In Toronto, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $49,092 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Toronto, 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 $41,615.
- In Toronto, White is both the largest group and the one with the highest median household income, which stands at $41,615.
- In Toronto, the median household income for the households where the householder is White decreased by $25,398(37.90%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $67,013 in 2011 and $41,615 in 2021.
- As per the U.S. Census Bureau population data, in Toronto, 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
Toronto, IA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Toronto decreased by $17,416 (29.50%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 14,559 (from $41,702 to $56,261). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 13,594 (from $56,261 to $42,667).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.3492, it is evident that income distribution in Toronto, IA exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $58,099.
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