Age of householder
Per the latest American Community Survey by the Census Bureau, Wells township sees its highest median household income among householders in the age group of 45 to 64 years old, at $55,735. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Wells township, where there exist only two delineated age groups, the median household income is $55,735 for householders within the 45 to 64 years age group, compared to $53,595 for the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $22,774(73.89%), escalating from a median of $30,821 in 2011 to $53,595 in 2021.
- 0 households where the householder is under 25 years old.
- 7(8.97%) households with a householder aged between 25 and 44 years.
- 40(51.28%) households with a householder aged between 45 and 64 years.
- 31(39.74%) households where the householder is over 65 years old.
Read more about Wells township, Marquette County, Michigan median household income by age ➔
Gender
In Wells township, the population consists of 79 males (57.66%) and 58 females (42.34%). Here are the primary highlights from the gender-based income distribution analysis:
- In Wells township, while the Census reported a median income of $47,869 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, while the Census reported a median income of $54,270 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Wells township, while the Census reported a median income of $47,869 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 Wells township, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $54,270 for males, while data for females was unavailable due to an insufficient number of sample observations.
Read more about Wells township, Marquette County, Michigan income by gender ➔
Race
In Wells township, the population is predominantly White, constituting 95.62% 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 $56,072.
- In Wells township, White is both the largest group and the one with the highest median household income, which stands at $56,072.
- In Wells township, the median household income for the households where the householder is White decreased by $1,134(1.98%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $57,206 in 2011 and $56,072 in 2021.
- As per the U.S. Census Bureau population data, in Wells township, 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.
Read more about Wells township, Marquette County, Michigan median household income by race ➔
Year by year
Wells township, Marquette County, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Wells township increased by $6,710 (13.88%), 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 2010 to 2011, when the median household income increased by 8,857 (from $48,349 to $57,206). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 8,856 (from $57,206 to $48,350).
- It then further increased to $61,140 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3369, it is evident that income distribution in Wells township, Marquette County, Michigan exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $62,828. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $38,507.
Read more about Wells township, Marquette County, Michigan median household income ➔