Age of householder
Per the latest American Community Survey by the Census Bureau, West Park sees its highest median household income among householders in the age group of 45 to 64 years old, at $61,068. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in West Park, the median household income stands at $61,068 for householders within the 45 to 64 years age group, followed by $60,313 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $45,906.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $25,989(75.72%), escalating from a median of $34,324 in 2011 to $60,313 in 2021.
- 68(1.49%) households where the householder is under 25 years old.
- 1,738(38.11%) households with a householder aged between 25 and 44 years.
- 1,779(39%) households with a householder aged between 45 and 64 years.
- 976(21.40%) households where the householder is over 65 years old.
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Gender
In West Park, the population consists of 7,428 males (49.28%) and 7,646 females (50.72%). Here are the primary highlights from the gender-based income distribution analysis:
- In West Park, the median income for all workers aged 15 years and older, regardless of work hours, was $30,750 for males and $22,566 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $38,596 for males and $43,301 for females.
- In West Park, the median income for all workers aged 15 years and older, regardless of work hours, was $30,750 for males and $22,566 for females.
- In West Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $38,596, while females earned $43,301
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Race
In West Park, the population is predominantly Black or African American, constituting 50.05% 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 $47,646.
- In West Park, 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 $78,428. This reveals that, while Black or African Americans may be the most numerous in West Park, White households experience greater economic prosperity in terms of median household income.
- In West Park, the median household income for the households where the householder is White increased by $18,249(30.32%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $60,179 in 2011 and $78,428 in 2021.
- In West Park, the median household income for the households where the householder is Black or African American decreased by $4,720(9.01%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $52,366 in 2011 and $47,646 in 2021.
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Year by year
West Park, FL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for West Park decreased by $3,539 (5.91%), 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 4,011 (from $49,685 to $53,696). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 4,738 (from $54,552 to $49,814).
- It then further increased to $270,229 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4717, it is evident that income distribution in West Park, FL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $57,288. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $41,320.
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