Age of householder
Per the latest American Community Survey by the Census Bureau, Union Valley sees its highest median household income among householders in the age group of 45 to 64 years old, at $117,549. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Union Valley, where there exist only two delineated age groups, the median household income is $117,549 for householders within the 45 to 64 years age group, compared to $52,694 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $50,536(75.41%), escalating from a median of $67,013 in 2011 to $117,549 in 2021.
- 0 households where the householder is under 25 years old.
- 56(31.82%) households with a householder aged between 25 and 44 years.
- 78(44.32%) households with a householder aged between 45 and 64 years.
- 42(23.86%) households where the householder is over 65 years old.
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Gender
In Union Valley, the population consists of 238 males (45.68%) and 283 females (54.32%). Here are the primary highlights from the gender-based income distribution analysis:
- In Union Valley, the median income for all workers aged 15 years and older, regardless of work hours, was $54,046 for males and $29,500 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $74,313 for males and $71,160 for females.
- In Union Valley, the median income for all workers aged 15 years and older, regardless of work hours, was $54,046 for males and $29,500 for females.
- In Union Valley, among full-time, year-round workers aged 15 years and older, males earned a median income of $74,313, while females earned $71,160, resulting in a 4% gender pay gap among full-time workers. This illustrates that women earn 96 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the city of Union Valley.
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Race
In Union Valley, the population is predominantly White, constituting 85.60% 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 $98,633.
- In Union Valley, White is both the largest group and the one with the highest median household income, which stands at $98,633.
- In Union Valley, the median household income for the households where the householder is White increased by $27,124(37.93%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $71,509 in 2011 and $98,633 in 2021.
- As per the U.S. Census Bureau population data, in Union Valley, 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
Union Valley, TX median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Union Valley increased by $8,670 (12.84%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2013 to 2014, when the median household income increased by 24,208 (from $61,629 to $85,837). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 32,914 (from $111,951 to $79,037).
- It then further increased to $270,229 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5294, it is evident that income distribution in Union Valley, TX exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $91,878. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $38,732.
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