Age of householder
Per the latest American Community Survey by the Census Bureau, Woodworth sees its highest median household income among householders in the age group of 45 to 64 years old, at $125,680. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Woodworth, where there exist only two delineated age groups, the median household income is $125,680 for householders within the 45 to 64 years age group, compared to $103,458 for the 25 to 44 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $35,784(39.81%), escalating from a median of $89,896 in 2011 to $125,680 in 2021.
- 3(0.44%) households where the householder is under 25 years old.
- 202(29.45%) households with a householder aged between 25 and 44 years.
- 344(50.15%) households with a householder aged between 45 and 64 years.
- 137(19.97%) households where the householder is over 65 years old.
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Gender
In Woodworth, the population consists of 898 males (43.59%) and 1,162 females (56.41%). Here are the primary highlights from the gender-based income distribution analysis:
- In Woodworth, the median income for all workers aged 15 years and older, regardless of work hours, was $47,869 for males and $43,365 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $88,838 for males and $71,695 for females.
- In Woodworth, the median income for all workers aged 15 years and older, regardless of work hours, was $47,869 for males and $43,365 for females.
- In Woodworth, among full-time, year-round workers aged 15 years and older, males earned a median income of $88,838, while females earned $71,695, leading to a 19% gender pay gap among full-time workers. This illustrates that women earn 81 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Woodworth, the population is predominantly White, constituting 80.78% 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 $103,227.
- In Woodworth, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $125,254. This reveals that, while Whites may be the most numerous in Woodworth, Black or African American households experience greater economic prosperity in terms of median household income.
- In Woodworth, the median household income for the households where the householder is White increased by $12,748(14.09%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $90,479 in 2011 and $103,227 in 2021.
- In Woodworth, the median household income for the households where the householder is Black or African American increased by $73,359(141.36%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $51,895 in 2011 and $125,254 in 2021.
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Year by year
Woodworth, LA median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Woodworth increased by $18,347 (20.96%), 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 2019 to 2020, when the median household income increased by 24,466 (from $78,461 to $102,927). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 13,371 (from $86,511 to $73,140).
- It then further increased to $125,730 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.479, it is evident that income distribution in Woodworth, LA exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $126,888. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $12,422.
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