Age of householder
Per the latest American Community Survey by the Census Bureau, Woodland sees its highest median household income among householders in the age group of 65 years and over old, at $54,158. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Woodland only reports a median household income of $54,158 among householders in 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 $13,879(34.46%), escalating from a median of $40,279 in 2011 to $54,158 in 2021.
- 17(6.42%) households where the householder is under 25 years old.
- 40(15.09%) households with a householder aged between 25 and 44 years.
- 81(30.57%) households with a householder aged between 45 and 64 years.
- 127(47.92%) households where the householder is over 65 years old.
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Gender
In Woodland, the population consists of 304 males (46.84%) and 345 females (53.16%). Here are the primary highlights from the gender-based income distribution analysis:
- In Woodland, the median income for all workers aged 15 years and older, regardless of work hours, was $29,933 for males and $15,285 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $66,713 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Woodland, the median income for all workers aged 15 years and older, regardless of work hours, was $29,933 for males and $15,285 for females.
- In Woodland, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $66,713 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Woodland, the population is predominantly Black or African American, constituting 51% 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 $15,313.
- In Woodland, 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 $56,635. This reveals that, while Black or African Americans may be the most numerous in Woodland, White households experience greater economic prosperity in terms of median household income.
- In Woodland, the median household income for the households where the householder is White increased by $8,027(16.51%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $48,608 in 2011 and $56,635 in 2021.
- In Woodland, the median household income for the households where the householder is Black or African American decreased by $5,608(26.81%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $20,921 in 2011 and $15,313 in 2021.
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Year by year
Woodland, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Woodland increased by $4,725 (16.05%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 19,368 (from $25,122 to $44,490). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 7,856 (from $42,020 to $34,164).
- It then further increased to $73,637 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.5731, it is evident that income distribution in Woodland, NC exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $55,622. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $24,185.
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