Age of householder
Per the latest American Community Survey by the Census Bureau, Cutler Bay sees its highest median household income among householders in the age group of under 25 years old, at $94,966. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Cutler Bay, householders within the under 25 years age group have the highest median household income at $94,966, followed by those in the 25 to 44 years age group with an income of $93,405. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $87,238. Notably, householders within the 65 years and over age group, had the lowest median household income at $33,038.
- Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $36,060(61.22%), escalating from a median of $58,906 in 2011 to $94,966 in 2021.
- 102(0.74%) households where the householder is under 25 years old.
- 4,474(32.27%) households with a householder aged between 25 and 44 years.
- 6,082(43.86%) households with a householder aged between 45 and 64 years.
- 3,208(23.14%) households where the householder is over 65 years old.
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Gender
In Cutler Bay, the population consists of 21,095 males (47.02%) and 23,770 females (52.98%). Here are the primary highlights from the gender-based income distribution analysis:
- In Cutler Bay, the median income for all workers aged 15 years and older, regardless of work hours, was $41,604 for males and $27,730 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,022 for males and $45,035 for females.
- In Cutler Bay, the median income for all workers aged 15 years and older, regardless of work hours, was $41,604 for males and $27,730 for females.
- In Cutler Bay, among full-time, year-round workers aged 15 years and older, males earned a median income of $53,022, while females earned $45,035, resulting in a 15% gender pay gap among full-time workers. This illustrates that women earn 85 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the town of Cutler Bay.
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Race
In Cutler Bay, the population is predominantly White, constituting 62.59% 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 $82,485.
- In Cutler Bay, 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 $103,227. This reveals that, while Whites may be the most numerous in Cutler Bay, Asian households experience greater economic prosperity in terms of median household income.
- In Cutler Bay, the median household income for the households where the householder is White decreased by $3,471(4.04%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $85,956 in 2011 and $82,485 in 2021.
- In Cutler Bay, the median household income for the households where the householder is Black or African American increased by $12,565(19.51%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $64,418 in 2011 and $76,983 in 2021.
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Year by year
Cutler Bay, FL median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Cutler Bay decreased by $3,817 (4.61%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 5 years and declined for 6 years.
- The most significant year-by-year growth occured from 2015 to 2016, when the median household income increased by 5,238 (from $76,621 to $81,859). Similarly the most substantial year-by-year decline occured from 2020 to 2021, when the median household income decreased by 6,790 (from $85,778 to $78,988).
- It then further increased to $117,875 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4146, it is evident that income distribution in Cutler Bay, FL exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $83,462. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $47,721.
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