Age of householder
Per the latest American Community Survey by the Census Bureau, Woodlawn Park sees its highest median household income among householders in the age group of 25 to 44 years old, at $130,892. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Woodlawn Park, the median household income stands at $130,892 for householders within the 25 to 44 years age group, followed by $103,458 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $79,717.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $18,696(30.64%), escalating from a median of $61,021 in 2011 to $79,717 in 2021.
- 3(0.81%) households where the householder is under 25 years old.
- 109(29.30%) households with a householder aged between 25 and 44 years.
- 144(38.71%) households with a householder aged between 45 and 64 years.
- 116(31.18%) households where the householder is over 65 years old.
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Gender
In Woodlawn Park, the population consists of 422 males (50.72%) and 410 females (49.28%). Here are the primary highlights from the gender-based income distribution analysis:
- In Woodlawn Park, the median income for all workers aged 15 years and older, regardless of work hours, was $48,641 for males and $49,857 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $69,246 for males and $71,610 for females.
- In Woodlawn Park, the median income for all workers aged 15 years and older, regardless of work hours, was $48,641 for males and $49,857 for females.
- In Woodlawn Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $69,246, while females earned $71,610
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Race
In Woodlawn Park, the population is predominantly White, constituting 94.35% 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 $95,231.
- In Woodlawn Park, White is both the largest group and the one with the highest median household income, which stands at $95,231.
- In Woodlawn Park, the median household income for the households where the householder is White decreased by $2,110(2.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $97,341 in 2011 and $95,231 in 2021.
- In Woodlawn Park, the median household income for Black or African American households was $157,454 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Woodlawn Park, KY median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Woodlawn Park decreased by $5,825 (5.72%), 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 12,007 (from $86,528 to $98,535). Similarly the most substantial year-by-year decline occured from 2013 to 2014, when the median household income decreased by 11,960 (from $91,247 to $79,287).
- It then further increased to $152,829 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3315, it is evident that income distribution in Woodlawn Park, KY exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $103,266. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $64,630.
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