Age of householder
Per the latest American Community Survey by the Census Bureau, Washington Park sees its highest median household income among householders in the age group of 65 years and over old, at $30,256. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Washington Park, where there exist only two delineated age groups, the median household income is $30,256 for householders within the 65 years and over age group, compared to $29,725 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 $3,299(9.83%), declining from a median of $33,555 in 2011 to $30,256 in 2021.
- 0 households where the householder is under 25 years old.
- 194(19.54%) households with a householder aged between 25 and 44 years.
- 454(45.72%) households with a householder aged between 45 and 64 years.
- 345(34.74%) households where the householder is over 65 years old.
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Gender
In Washington Park, the population consists of 1,518 males (55.56%) and 1,214 females (44.44%). Here are the primary highlights from the gender-based income distribution analysis:
- In Washington Park, the median income for all workers aged 15 years and older, regardless of work hours, was $18,302 for males and $19,823 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $24,291 for males and $31,762 for females.
- In Washington Park, the median income for all workers aged 15 years and older, regardless of work hours, was $18,302 for males and $19,823 for females.
- In Washington Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $24,291, while females earned $31,762
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Race
In Washington Park, the population is predominantly Black or African American, constituting 91.69% 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 $29,569.
- In Washington Park, Black or African American is both the largest group and the one with the highest median household income, which stands at $29,569.
- In Washington Park, the median household income for White households was $28,399 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- In Washington Park, the median household income for the households where the householder is Black or African American decreased by $3,957(11.80%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $33,526 in 2011 and $29,569 in 2021.
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Year by year
Washington Park, IL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Washington Park decreased by $4,249 (12.74%), 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 2020 to 2021, when the median household income increased by 5,237 (from $23,870 to $29,107). Similarly the most substantial year-by-year decline occured from 2017 to 2018, when the median household income decreased by 4,563 (from $30,407 to $25,844).
- It then further increased to $86,959 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4426, it is evident that income distribution in Washington Park, IL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $35,426. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $22,110.
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