Troy, MI median household income diversity
Based on our analysis of the distribution of Troy population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 65.86% of the total residents in Troy. Notably, the median household income for White households is $104,506.
Interestingly, despite the White population being the most populous, it is worth noting that Two or More Races households actually reports the highest median household income, with a median income of $152,993. This reveals that, while Whites may be the most numerous in Troy, Two or More Races households experience greater economic prosperity in terms of median household income.
For a better visual representation of these income disparities, take a look at the bar chart below. It illustrates the varying median household incomes across races, providing a clear comparison for each of the racial categories defined by the U.S. Census Bureau.
In Troy, a diversity of median household incomes is evident among households of different races. The Two or More Races households boast the highest median household income at about $152,993. Asian households have a median income of approximately $152,954. White households have a median income of approximately $104,506. Some Other Race households have a median income of approximately $91,263. Conversely, Black or African American households reveal the lowest median income at $43,984. These disparities underscore the varied income distribution within the city of Troy.
Troy, MI median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Troy, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Troy.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Troy, the median household income for the households where the householder is White increased by $9,367(9.85%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $95,139 in 2012 and $104,506 in 2022.
- Black or African American: In Troy, the median household income for the households where the householder is Black or African American decreased by $50,412(53.40%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $94,396 in 2012 and $43,984 in 2022.
- American Indian and Alaska Native: Even though there is a population where the householder is American Indian and Alaska Native, there was no median household income reported by the U.S. Census Bureau for both 2012 and 2022.
- Asian: In Troy, the median household income for the households where the householder is Asian increased by $26,160(20.63%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $126,794 in 2012 and $152,954 in 2022.
- Native Hawaiian and Other Pacific Islander: Even though there is a population where the householder is Native Hawaiian and Other Pacific Islander, there was no median household income reported by the U.S. Census Bureau for both 2012 and 2022.
- Some other race: In Troy, there was no reported median household income for Some other race households in 2012. However, in 2022, the median household income increased to $91,263, marking a significant change.
- Two or more races (multiracial): In Troy, there was no reported median household income for multiracial households in 2012. However, in 2022, the median household income increased to $152,993, marking a significant change.
- Above analysis reconfirms that there are 5 race households in Troy. Households are categorized based on the self-identified race of the head of household.
Troy median household income by race betwen 2012 and 2022
Explore the evolution of median household incomes over the past decade across various racial categories identified by the U.S. Census Bureau. This table showcases the annual income trends, from 2012 to 2022, providing insights into the economic shifts within diverse racial communities.
| Race Of The Head Of Household | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| White | $101,467 | $94,608 | $95,139 | $96,570 | $99,267 | $103,563 | $111,920 | $110,622 | $105,392 | $116,511 | N/A | $100,867 | $104,506 |
| Black or African American | $68,666 | $41,589 | $94,396 | $61,620 | $93,767 | $84,863 | $69,541 | N/A | $105,955 | $104,884 | N/A | $61,857 | $43,984 |
| Asian | $125,310 | $135,288 | $126,794 | $142,274 | $126,422 | $141,021 | $136,368 | $122,563 | $152,730 | $158,175 | N/A | $157,107 | $152,954 |
| Some Other Race | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $190,267 | $156,521 | N/A | $202,938 | $91,263 |
| Two or More Races | N/A | N/A | N/A | $117,357 | $100,734 | N/A | N/A | $80,887 | N/A | N/A | N/A | $86,811 | $152,993 |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $152,993. On the other hand, households where householder is Black or African American experienced a notable decline, with a decrease of $50,412 in median income.