Age of householder
Per the latest American Community Survey by the Census Bureau, Vero Beach sees its highest median household income among householders in the age group of 25 to 44 years old, at $65,017. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Vero Beach, the median household income stands at $65,017 for householders within the 25 to 44 years age group, followed by $62,185 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $56,082.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $9,733(18.56%), escalating from a median of $52,452 in 2011 to $62,185 in 2021.
- 131(1.72%) households where the householder is under 25 years old.
- 1,302(17.11%) households with a householder aged between 25 and 44 years.
- 2,777(36.50%) households with a householder aged between 45 and 64 years.
- 3,398(44.66%) households where the householder is over 65 years old.
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Gender
In Vero Beach, the population consists of 7,639 males (47.00%) and 8,615 females (53.00%). Here are the primary highlights from the gender-based income distribution analysis:
- In Vero Beach, the median income for all workers aged 15 years and older, regardless of work hours, was $47,941 for males and $28,172 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $54,828 for males and $59,040 for females.
- In Vero Beach, the median income for all workers aged 15 years and older, regardless of work hours, was $47,941 for males and $28,172 for females.
- In Vero Beach, among full-time, year-round workers aged 15 years and older, males earned a median income of $54,828, while females earned $59,040
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Race
In Vero Beach, the population is predominantly White, constituting 85.20% 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 $63,045.
- In Vero Beach, 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 $84,466. This reveals that, while Whites may be the most numerous in Vero Beach, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Vero Beach, the median household income for the households where the householder is White increased by $9,007(16.67%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $54,038 in 2011 and $63,045 in 2021.
- In Vero Beach, the median household income for Black or African American households was $50,424 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Vero Beach, FL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Vero Beach increased by $2,360 (4.19%), 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 2017 to 2018, when the median household income increased by 5,333 (from $48,828 to $54,161). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 3,786 (from $53,545 to $49,759).
- It then further increased to $124,829 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5994, it is evident that income distribution in Vero Beach, FL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $90,693. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $40,824.
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