Gender
In Troy, the population consists of 44,794 males (51.54%) and 42,118 females (48.46%). Here are the primary highlights from the gender-based income distribution analysis:
- In Troy, the median income for all workers aged 15 years and older, regardless of work hours, was $62,804 for males and $39,728 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $98,040 for males and $73,653 for females.
- In Troy, the median income for all workers aged 15 years and older, regardless of work hours, was $62,804 for males and $39,728 for females.
- In Troy, among full-time, year-round workers aged 15 years and older, males earned a median income of $98,040, while females earned $73,653, leading to a 25% gender pay gap among full-time workers. This illustrates that women earn 75 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 Troy, the population is predominantly White, constituting 65.86% 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 $104,506.
- In Troy, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $152,993. This reveals that, while Whites may be the most numerous in Troy, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Troy, the median household income for the households where the householder is White increased by $9,367(9.85%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $95,139 in 2012 and $104,506 in 2022.
- In Troy, the median household income for the households where the householder is Black or African American decreased by $50,412(53.40%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $94,396 in 2012 and $43,984 in 2022.
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Year by year
Troy, MI median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Troy decreased by $1,498 (1.27%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 6 years and declined for 5 years.
- The most significant year-by-year growth occured from 2018 to 2019, when the median household income increased by 3,528 (from $113,455 to $116,983). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 5,369 (from $117,750 to $112,381).
- It then further decreased to -666,666,666 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4381, it is evident that income distribution in Troy, MI exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $146,496. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $56,847.
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