Age of householder
Per the latest American Community Survey by the Census Bureau, Velda Village Hills sees its highest median household income among householders in the age group of 45 to 64 years old, at $62,659. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Velda Village Hills, the median household income stands at $62,659 for householders within the 45 to 64 years age group, followed by $37,180 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $36,649.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $19,866(46.42%), escalating from a median of $42,793 in 2011 to $62,659 in 2021.
- 0 households where the householder is under 25 years old.
- 104(28.81%) households with a householder aged between 25 and 44 years.
- 145(40.17%) households with a householder aged between 45 and 64 years.
- 112(31.02%) households where the householder is over 65 years old.
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Gender
In Velda Village Hills, the population consists of 300 males (35.67%) and 541 females (64.33%). Here are the primary highlights from the gender-based income distribution analysis:
- In Velda Village Hills, the median income for all workers aged 15 years and older, regardless of work hours, was $20,653 for males and $30,401 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $21,093 for males and $40,309 for females.
- In Velda Village Hills, the median income for all workers aged 15 years and older, regardless of work hours, was $20,653 for males and $30,401 for females.
- In Velda Village Hills, among full-time, year-round workers aged 15 years and older, males earned a median income of $21,093, while females earned $40,309
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Race
In Velda Village Hills, the population is predominantly Black or African American, constituting 99.52% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $43,647.
- In Velda Village Hills, Black or African American is both the largest group and the one with the highest median household income, which stands at $43,647.
- As per the U.S. Census Bureau population data, in Velda Village Hills, there are no households where the householder is White; thus, the median household income for the White population is not applicable.
- In Velda Village Hills, the median household income for the households where the householder is Black or African American increased by $2,084(5.01%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $41,563 in 2011 and $43,647 in 2021.
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Year by year
Velda Village Hills, MO median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Velda Village Hills increased by $859 (2.02%), 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 2019 to 2020, when the median household income increased by 5,200 (from $44,493 to $49,693). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 6,280 (from $49,693 to $43,413).
- It then further decreased to 37,409 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2684, it is evident that income distribution in Velda Village Hills, MO exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $45,095. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $38,057.
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