Download
Share
Contents
Save
Collection 5 Resources

Elvaston, IL Median Household Income: Trends, Analysis, and Key Findings

The median household income in Elvaston was $40,534 in 2021, which marked an an increase of 11,143(37.91%) from $29,391 in 2020. This income is 54.33% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Neilsberg Research Avatar
By Neilsberg Research
Updated Jan 11, 2024

Median Household Income in Elvaston, IL (2010-2021, in 2022 inflation-adjusted dollars)

Below, you will find a table illustrating the median household income in Elvaston, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars.

Year Median Household Income YOY Change($) YOY Change(%)
2010 49,755 - -
2011 49,647 -108 -0.22%
2012 42,426 -7,221 -14.54%
2013 40,479 -1,947 -4.59%
2014 33,870 -6,609 -16.33%
2015 50,329 16,459 48.59%
2016 37,202 -13,127 -26.08%
2017 37,052 -150 -0.40%
2018 43,352 6,300 17.00%
2019 36,599 -6,753 -15.58%
2020 29,391 -7,208 -19.69%
2021 40,534 11,143 37.91%
Need Income insights or broader demographics data for Elvaston?
We can help you with custom data for Elvaston, other cities in Hancock County, any place in Illinois, or across the USA!
Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time ✎ Custom Dataset: Elvaston Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

TABLE OF CONTENTS

Elvaston, IL median household income trends: 2010 to 2021

From 2010 to 2021, the median household income for Elvaston decreased by $9,221 (18.53%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 3 years and declined for 8 years.

The line chart shows Elvaston, IL median household income from 2010 to 2021. The orange line represents Census Bureau data for median household income (without adjusting for any inflation), while the blue line shows inflation-adjusted median household income for 2022.
Elvaston, IL median household income trends: 2010 to 2021. The chart illustrates income fluctuations over the years, highlighting the impact of inflation on economic trends. We observed that the median household income experienced growth year by year for 3 years and declined for 8 years. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

The most significant year-by-year growth occured from 2014 to 2015, when the median household income increased by 16,459 (from $33,870 to $50,329). Similarly the most substantial year-by-year decline occured from 2015 to 2016, when the median household income decreased by 13,127 (from $50,329 to $37,202).

In Illinois, among cities with populations of fewer than 5,000 residents, Elvaston ranks 668th out of 742 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Illinois.

Things to know

What is the Gini index for Elvaston, IL?

As per the Census Bureau, the Gini coefficient for Elvaston is 0.487. With this value of Gini coefficient, it is evident that income distribution in Elvaston exihibits characterstics of moderate inequality .

This level of Gini coefficient suggests noticeable variations in income distribution across households, with certain segments of the population holding a larger share of income compared to others in Elvaston.

It also implies that efforts may be needed to enhance economic fairness and reduce the gap between income groups in Elvaston

What is the median household income in Elvaston, IL?

As per the latest data available from American Community Survey, the median household income for Elvaston is $40,534 (in 2022 inflation-adjusted dollars). The next release from the Census is scheduled for Dec 7, 2023. This income is 54.33% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).

How does Elvaston, IL median household income compare to the rest of the United States?

In Illinois, among cities with populations of fewer than 5,000 residents, Elvaston ranks 668th out of 742 for median household income. This rank indicates that it falls within the lower-income range of small cities within the state of Illinois.

References

Datasets

Explore datasets by year of publication.
2023
Elvaston, IL Median Household Income Trends (2010-2021, in 2022 inflation-adjusted dollars)
Last updated January 11, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset illustrates the median household income in Elvaston, spanning the years from 2010 to 2021, with all figures adjusted to 2022 inflation-adjusted dollars. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2021, the median household income for Elvaston decreased by $9,221 (18.53%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $4,559 (6.51%) between 2010 and 2021.

Analyzing the trend in median household income between the years 2010 and 2021, spanning 11 annual cycles, we observed that median household income, when adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 3 years and declined for 8 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

  • 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021

Variables / Data Columns

  • Year: This column presents the data year from 2010 to 2021
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific year
  • YOY Change($): Change in median household income between the current and the previous year, in 2022 inflation-adjusted dollars
  • YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Elvaston median household income. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore related topics

Elvaston, IL Income Elvaston, IL Demographics

Explore more

Median household income of places that contain Elvaston (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)
Insights for Elvaston, by topic

About the author

Neilsberg Research Avatar
Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.
Read more from Neilsberg Research ➔

Share

This article is for informational purposes only and is not intended to be legal or tax advice. We recommend that you consult with a qualified professional such as a lawyer or accountant before making a decision. Many of the products and services featured here are from our affiliate partners. We may receive commissions on purchases made from our chosen links. Read advertiser disclosure.
Collection 5 Resources