Age of householder
Per the latest American Community Survey by the Census Bureau, Veteran town sees its highest median household income among householders in the age group of 45 to 64 years old, at $92,436. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Veteran town, the median household income stands at $92,436 for householders within the 45 to 64 years age group, followed by $80,689 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $49,401.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $11,462(14.16%), escalating from a median of $80,974 in 2011 to $92,436 in 2021.
- 33(2.42%) households where the householder is under 25 years old.
- 417(30.64%) households with a householder aged between 25 and 44 years.
- 362(26.60%) households with a householder aged between 45 and 64 years.
- 549(40.34%) households where the householder is over 65 years old.
Read more about Veteran, New York median household income by age ➔
Gender
In Veteran town, the population consists of 1,861 males (55.70%) and 1,480 females (44.30%). Here are the primary highlights from the gender-based income distribution analysis:
- In Veteran town, the median income for all workers aged 15 years and older, regardless of work hours, was $42,214 for males and $27,276 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $54,909 for males and $51,150 for females.
- In Veteran town, the median income for all workers aged 15 years and older, regardless of work hours, was $42,214 for males and $27,276 for females.
- In Veteran town, among full-time, year-round workers aged 15 years and older, males earned a median income of $54,909, while females earned $51,150, resulting in a 7% gender pay gap among full-time workers. This illustrates that women earn 93 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 town of Veteran town.
Read more about Veteran, New York income by gender ➔
Race
In Veteran town, the population is predominantly White, constituting 89.11% 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 $60,620.
- In Veteran town, 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 $125,372. This reveals that, while Whites may be the most numerous in Veteran town, Two or More Races households experience greater economic prosperity in terms of median household income.
- In Veteran town, the median household income for the households where the householder is White decreased by $14,749(19.57%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $75,369 in 2011 and $60,620 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
Read more about Veteran, New York median household income by race ➔
Year by year
Veteran, New York median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Veteran town decreased by $7,456 (10.83%), 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 10,218 (from $70,451 to $80,669). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 16,542 (from $80,669 to $64,127).
- It then further increased to $157,592 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4065, it is evident that income distribution in Veteran, New York exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $79,406. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $49,073.
Read more about Veteran, New York median household income ➔