Age of householder
Per the latest American Community Survey by the Census Bureau, Wagon Mound sees its highest median household income among householders in the age group of 65 years and over old, at $42,890. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Wagon Mound, where there exist only two delineated age groups, the median household income is $42,890 for householders within the 65 years and over age group, compared to $38,604 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $9,990(18.89%), declining from a median of $52,880 in 2011 to $42,890 in 2021.
- 0 households where the householder is under 25 years old.
- 11(4.40%) households with a householder aged between 25 and 44 years.
- 56(22.40%) households with a householder aged between 45 and 64 years.
- 183(73.20%) households where the householder is over 65 years old.
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Gender
In Wagon Mound, the population consists of 192 males (41.38%) and 272 females (58.62%). Here are the primary highlights from the gender-based income distribution analysis:
- In Wagon Mound, while the Census reported a median income of $43,912 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $92,102 for males and $50,668 for females.
- In Wagon Mound, while the Census reported a median income of $43,912 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Wagon Mound, among full-time, year-round workers aged 15 years and older, males earned a median income of $92,102, while females earned $50,668, leading to a 45% gender pay gap among full-time workers. This illustrates that women earn 55 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.
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Race
In Wagon Mound, the population is predominantly White, constituting 60.34% 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 not available from the U.S. Census Bureau, possibly due to insufficient sample size, confidentiality or privacy constraints..
- In Wagon Mound, despite the White population being the most populous, there is no income data available in the latest American Community Survey for it. Based on analysis from all of the data that is available, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $42,371. This reveals that, while Whites may be the most numerous in Wagon Mound, Some Other Race households experience greater economic prosperity in terms of median household income.
- In Wagon Mound, the median household income for White households was $54,319 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- As per the U.S. Census Bureau population data, in Wagon Mound, 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
Wagon Mound, NM median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Wagon Mound decreased by $6,164 (12.65%), 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 2018 to 2019, when the median household income increased by 15,432 (from $25,330 to $40,762). Similarly the most substantial year-by-year decline occured from 2014 to 2015, when the median household income decreased by 9,142 (from $41,884 to $32,742).
- It then further increased to $42,660 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3277, it is evident that income distribution in Wagon Mound, NM exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $42,760. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $40,534.
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