Age of householder
Per the latest American Community Survey by the Census Bureau, Torrey township sees its highest median household income among householders in the age group of 25 to 44 years old, at $112,820. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Torrey township, the median household income stands at $112,820 for householders within the 25 to 44 years age group, followed by $54,946 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $40,684.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $55,342(96.28%), escalating from a median of $57,478 in 2011 to $112,820 in 2021.
- 0 households where the householder is under 25 years old.
- 13(16.25%) households with a householder aged between 25 and 44 years.
- 28(35%) households with a householder aged between 45 and 64 years.
- 39(48.75%) households where the householder is over 65 years old.
Read more about Torrey Township, Minnesota median household income by age ➔
Gender
In Torrey township, the population consists of 119 males (60.10%) and 79 females (39.90%). Here are the primary highlights from the gender-based income distribution analysis:
- In Torrey township, the median income for all workers aged 15 years and older, regardless of work hours, was $37,291 for males and $24,127 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $69,246 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Torrey township, the median income for all workers aged 15 years and older, regardless of work hours, was $37,291 for males and $24,127 for females.
- In Torrey township, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $69,246 for females, while data for males was unavailable due to an insufficient number of sample observations.
Read more about Torrey Township, Minnesota income by gender ➔
Race
In Torrey township, the population is predominantly White, constituting 79.29% 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 $54,796.
- In Torrey township, White is both the largest group and the one with the highest median household income, which stands at $54,796.
- In Torrey township, the median household income for the households where the householder is White decreased by $5,679(9.39%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $60,475 in 2011 and $54,796 in 2021.
- As per the U.S. Census Bureau population data, in Torrey 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 Torrey Township, Minnesota median household income by race ➔
Year by year
Torrey Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Torrey township decreased by $2,401 (4.36%), 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 2012 to 2013, when the median household income increased by 6,936 (from $56,675 to $63,611). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 5,452 (from $64,298 to $58,846).
- It then further increased to $55,397 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3703, it is evident that income distribution in Torrey Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,725.
Read more about Torrey Township, Minnesota median household income ➔