Age of householder
Per the latest American Community Survey by the Census Bureau, Walnut Cove sees its highest median household income among householders in the age group of 45 to 64 years old, at $58,515. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Walnut Cove, the median household income stands at $58,515 for householders within the 45 to 64 years age group, followed by $29,725 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $14,863.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $10,111(51.55%), escalating from a median of $19,614 in 2011 to $29,725 in 2021.
- 43(5.02%) households where the householder is under 25 years old.
- 172(20.07%) households with a householder aged between 25 and 44 years.
- 376(43.87%) households with a householder aged between 45 and 64 years.
- 266(31.04%) households where the householder is over 65 years old.
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Gender
In Walnut Cove, the population consists of 1,226 males (50.68%) and 1,193 females (49.32%). Here are the primary highlights from the gender-based income distribution analysis:
- In Walnut Cove, the median income for all workers aged 15 years and older, regardless of work hours, was $30,112 for males and $16,137 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $44,516 for males and $44,588 for females.
- In Walnut Cove, the median income for all workers aged 15 years and older, regardless of work hours, was $30,112 for males and $16,137 for females.
- In Walnut Cove, for all full-time workers aged 15 years and older, the median income was equal at, $44,588 for both males and females. This indicates a gender income balance in Walnut Cove, where both men and women, in full-time year-round roles, earn an equal income.
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Race
In Walnut Cove, the population is predominantly White, constituting 61.35% 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 $46,839.
- In Walnut Cove, White is both the largest group and the one with the highest median household income, which stands at $46,839.
- In Walnut Cove, the median household income for the households where the householder is White increased by $8,730(22.91%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $38,109 in 2011 and $46,839 in 2021.
- In Walnut Cove, the median household income for the households where the householder is Black or African American decreased by $1,382(3.13%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $44,131 in 2011 and $42,749 in 2021.
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Year by year
Walnut Cove, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Walnut Cove decreased by $7,949 (15.90%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 3 years and declined for 8 years.
- The most significant year-by-year growth occured from 2012 to 2013, when the median household income increased by 5,273 (from $39,833 to $45,106). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 9,577 (from $50,003 to $40,426).
- It then further increased to $52,059 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4655, it is evident that income distribution in Walnut Cove, NC exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $55,974.
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