Verona Township, New Jersey median household income diversity
Based on our analysis of the distribution of Verona township population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 91.32% of the total residents in Verona township. Notably, the median household income for White households is $152,201.
Interestingly, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $270,229. This reveals that, while Whites may be the most numerous in Verona township, Asian 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. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
As we explore median household incomes in Verona township, we observe that Asian households report a median income of about $270,229, Two or More Races households report a median income of about $270,229 and White households earn roughly $152,201. These differences shed light on the income distribution within the township of Verona township.
Verona Township, New Jersey median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Verona township, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the township of Verona township.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Verona township, the median household income for the households where the householder is White increased by $25,511(20.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $126,690 in 2011 and $152,201 in 2021.
- Black or African American: In Verona township, the median household income for Black or African American households was $78,424 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- American Indian and Alaska Native: The U.S. Census Bureau population data for Verona township, indicates a lack of households led by American Indian and Alaska Native individuals. As a result, the median household income for the American Indian and Alaska Native population is not available.
- Asian: In Verona township, the median household income for the households where the householder is Asian increased by $95,808(54.93%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $174,421 in 2011 and $270,229 in 2021.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Verona township, there are no households with Native Hawaiian and Other Pacific Islander householders. Consequently, the median household income for the Native Hawaiian and Other Pacific Islander population is not available.
- Some other race: In Verona township, the median household income for Some other race households was $86,291 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
- Two or more races (multiracial): In Verona township, there was no reported median household income for multiracial households in 2011. However, in 2021, the median household income increased to $270,229(2022 inflation-adjusted dollars), marking a significant change.
- Above analysis reconfirms that there are 3 race households in Verona township. Households are categorized based on the self-identified race of the head of household.
Verona township median household income by race betwen 2011 and 2021
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 2011 to 2021, 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 | $126,805 | $126,690 | $126,648 | $127,593 | $127,229 | $128,779 | $131,901 | $138,935 | $148,209 | $151,074 | $153,596 | $152,201 | N/A |
| Black or African American | $108,505 | $78,424 | $75,618 | $74,502 | $106,262 | N/A | $63,228 | N/A | N/A | $43,227 | N/A | N/A | N/A |
| Asian | $170,212 | $174,421 | $173,479 | $164,336 | $100,315 | $108,015 | $123,041 | $125,661 | $125,171 | N/A | $229,075 | $270,229 | N/A |
| Some Other Race | $86,315 | $86,291 | $24,645 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Two or More Races | $305,275 | N/A | $269,447 | $268,741 | $192,745 | N/A | N/A | $183,793 | N/A | N/A | N/A | $270,229 | N/A |
Key observations: Households with multiracial householders witnessed significant growth in median household income, marking an impressive increase of $270,229. On the other hand, households where householder is Some other race experienced a notable decline, with a decrease of $86,291 in median income.