Age of householder
Per the latest American Community Survey by the Census Bureau, Home Lake township sees its highest median household income among householders in the age group of 45 to 64 years old, at $144,572. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Home Lake township only reports a median household income of $144,572 among householders in the 45 to 64 years age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $89,234(161.25%), escalating from a median of $55,338 in 2011 to $144,572 in 2021.
- 1(3.03%) households where the householder is under 25 years old.
- 5(15.15%) households with a householder aged between 25 and 44 years.
- 14(42.42%) households with a householder aged between 45 and 64 years.
- 13(39.39%) households where the householder is over 65 years old.
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Gender
In Home Lake township, the population consists of 40 males (37.74%) and 66 females (62.26%). Here are the primary highlights from the gender-based income distribution analysis:
- In Home Lake township, the median income for all workers aged 15 years and older, regardless of work hours, was $67,287 for males and $19,254 for females.
- However, when specifically considering full-time, year-round workers within the same age group, while the Census reported a median income of $81,068 for males, while data for females was unavailable due to an insufficient number of sample observations.
- In Home Lake township, the median income for all workers aged 15 years and older, regardless of work hours, was $67,287 for males and $19,254 for females.
- In Home Lake township, for full-time, year-round workers aged 15 years and older, while the Census reported a median income of $81,068 for males, while data for females was unavailable due to an insufficient number of sample observations.
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Race
In Home Lake township, the population is predominantly White, constituting 91.51% 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 $97,958.
- In Home Lake township, White is both the largest group and the one with the highest median household income, which stands at $97,958.
- In Home Lake township, the median household income for the households where the householder is White increased by $38,136(63.75%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $59,822 in 2011 and $97,958 in 2021.
- As per the U.S. Census Bureau population data, in Home Lake township, there are no households where the householder is Black or African American; hence, the median household income for the Black or African American population is not applicable.
Read more about Home Lake Township, Minnesota median household income by race ➔
Year by year
Home Lake Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Home Lake township increased by $27,964 (39.95%), 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 2016 to 2017, when the median household income increased by 16,214 (from $84,086 to $100,300). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 10,668 (from $111,234 to $100,566).
- It then further increased to $139,167 for 3-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2833, it is evident that income distribution in Home Lake Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $36,481.
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