Age of householder
Per the latest American Community Survey by the Census Bureau, Walterboro sees its highest median household income among householders in the age group of 45 to 64 years old, at $46,685. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Walterboro, householders within the 45 to 64 years age group have the highest median household income at $46,685, followed by those in the 25 to 44 years age group with an income of $45,749. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $37,179. Notably, householders within the under 25 years age group, had the lowest median household income at $2,701.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $15,607(51.78%), escalating from a median of $30,142 in 2011 to $45,749 in 2021.
- 125(5.51%) households where the householder is under 25 years old.
- 789(34.79%) households with a householder aged between 25 and 44 years.
- 826(36.42%) households with a householder aged between 45 and 64 years.
- 528(23.28%) households where the householder is over 65 years old.
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Gender
In Walterboro, the population consists of 2,001 males (36.29%) and 3,513 females (63.71%). Here are the primary highlights from the gender-based income distribution analysis:
- In Walterboro, the median income for all workers aged 15 years and older, regardless of work hours, was $33,048 for males and $23,407 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $42,163 for males and $31,236 for females.
- In Walterboro, the median income for all workers aged 15 years and older, regardless of work hours, was $33,048 for males and $23,407 for females.
- In Walterboro, among full-time, year-round workers aged 15 years and older, males earned a median income of $42,163, while females earned $31,236, leading to a 26% gender pay gap among full-time workers. This illustrates that women earn 74 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Walterboro, the population is predominantly Black or African American, constituting 52.39% of the total residents. Here are the key highlights from the analysis of income distribution by race:
- The median household income for Black or African American households is $28,838.
- In Walterboro, despite the Black or African American population being the most populous, it is worth noting that White households actually reports the highest median household income, with a median income of $47,177. This reveals that, while Black or African Americans may be the most numerous in Walterboro, White households experience greater economic prosperity in terms of median household income.
- In Walterboro, the median household income for the households where the householder is White decreased by $10,063(17.58%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $57,240 in 2011 and $47,177 in 2021.
- In Walterboro, the median household income for the households where the householder is Black or African American increased by $2,652(10.13%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $26,186 in 2011 and $28,838 in 2021.
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Year by year
Walterboro, SC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Walterboro increased by $4,097 (11.48%), 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 2015 to 2016, when the median household income increased by 5,362 (from $27,875 to $33,237). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 3,492 (from $32,467 to $28,975).
- It then further increased to $112,145 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4847, it is evident that income distribution in Walterboro, SC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $48,479. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $29,239.
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