Age of householder
Per the latest American Community Survey by the Census Bureau, Veldt township sees its highest median household income among householders in the age group of 25 to 44 years old, at $100,660. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Veldt township only reports a median household income of $100,660 among householders in the 25 to 44 years age group.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $37,324(58.93%), escalating from a median of $63,336 in 2011 to $100,660 in 2021.
- 3(27.27%) households where the householder is under 25 years old.
- 5(45.45%) households with a householder aged between 25 and 44 years.
- 0 households with a householder aged between 45 and 64 years.
- 3(27.27%) households where the householder is over 65 years old.
Read more about Veldt Township, Minnesota median household income by age ➔
Gender
In Veldt township, the population consists of 21 males (58.33%) and 15 females (41.67%). Here are the primary highlights from the gender-based income distribution analysis:
- In Veldt township, the median income for all workers aged 15 years and older, regardless of work hours, was $59,788 for males and $31,076 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $59,450 for males and $23,645 for females.
- In Veldt township, the median income for all workers aged 15 years and older, regardless of work hours, was $59,788 for males and $31,076 for females.
- In Veldt township, among full-time, year-round workers aged 15 years and older, males earned a median income of $59,450, while females earned $23,645, leading to a 60% gender pay gap among full-time workers. This illustrates that women earn 40 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
Read more about Veldt Township, Minnesota income by gender ➔
Race
In Veldt township, 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 $83,320.
- In Veldt township, White is both the largest group and the one with the highest median household income, which stands at $83,320.
- In Veldt township, the median household income for the households where the householder is White increased by $13,038(18.55%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $70,282 in 2011 and $83,320 in 2021.
- As per the U.S. Census Bureau population data, in Veldt 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 Veldt Township, Minnesota median household income by race ➔
Year by year
Veldt Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Veldt township increased by $17,301 (26.21%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 17,095 (from $54,915 to $72,010). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 16,915 (from $70,282 to $53,367).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.1576, it is evident that income distribution in Veldt Township, Minnesota exihibits characterstics of high equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $38,057.
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