Age of householder
Per the latest American Community Survey by the Census Bureau, West Okoboji sees its highest median household income among householders in the age group of 65 years and over old, at $82,420. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in West Okoboji, where there exist only two delineated age groups, the median household income is $82,420 for householders within the 65 years and over age group, compared to $60,126 for the 45 to 64 years age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $46,643(130.37%), escalating from a median of $35,777 in 2011 to $82,420 in 2021.
- 0 households where the householder is under 25 years old.
- 19(10.80%) households with a householder aged between 25 and 44 years.
- 65(36.93%) households with a householder aged between 45 and 64 years.
- 92(52.27%) households where the householder is over 65 years old.
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Gender
In West Okoboji, the population consists of 152 males (45.65%) and 181 females (54.35%). Here are the primary highlights from the gender-based income distribution analysis:
- In West Okoboji, the median income for all workers aged 15 years and older, regardless of work hours, was $60,801 for males and $36,657 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $69,043 for males and $62,603 for females.
- In West Okoboji, the median income for all workers aged 15 years and older, regardless of work hours, was $60,801 for males and $36,657 for females.
- In West Okoboji, among full-time, year-round workers aged 15 years and older, males earned a median income of $69,043, while females earned $62,603, resulting in a 9% gender pay gap among full-time workers. This illustrates that women earn 91 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the city of West Okoboji.
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Race
In West Okoboji, the population is predominantly White, constituting 96.40% 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 $70,259.
- In West Okoboji, White is both the largest group and the one with the highest median household income, which stands at $70,259.
- In West Okoboji, the median household income for the households where the householder is White decreased by $23(0.03%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $70,282 in 2011 and $70,259 in 2021.
- As per the U.S. Census Bureau population data, in West Okoboji, 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
West Okoboji, IA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for West Okoboji decreased by $3,158 (4.30%), 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 12,596 (from $66,344 to $78,940). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 9,769 (from $80,028 to $70,259).
- It then further increased to $133,763 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4709, it is evident that income distribution in West Okoboji, IA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $94,966. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $47,290.
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