Age of householder
Per the latest American Community Survey by the Census Bureau, Independence County sees its highest median household income among householders in the age group of 25 to 44 years old, at $65,770. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Independence County, householders within the 25 to 44 years age group have the highest median household income at $65,770, followed by those in the 45 to 64 years age group with an income of $52,244. Meanwhile householders within the under 25 years age group report the second lowest median household income of $45,488. Notably, householders within the 65 years and over age group, had the lowest median household income at $41,162.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $17,782(37.06%), escalating from a median of $47,988 in 2011 to $65,770 in 2021.
- 540(3.76%) households where the householder is under 25 years old.
- 4,281(29.83%) households with a householder aged between 25 and 44 years.
- 5,594(38.99%) households with a householder aged between 45 and 64 years.
- 3,934(27.42%) households where the householder is over 65 years old.
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Gender
In Independence County, the population consists of 18,743 males (49.59%) and 19,053 females (50.41%). Here are the primary highlights from the gender-based income distribution analysis:
- In Independence County, the median income for all workers aged 15 years and older, regardless of work hours, was $32,150 for males and $23,500 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $47,456 for males and $36,935 for females.
- In Independence County, the median income for all workers aged 15 years and older, regardless of work hours, was $32,150 for males and $23,500 for females.
- In Independence County, among full-time, year-round workers aged 15 years and older, males earned a median income of $47,456, while females earned $36,935, leading to a 22% gender pay gap among full-time workers. This illustrates that women earn 78 cents for each dollar earned by men in full-time roles. This analysis indicates a widening gender pay gap, showing a substantial income disparity where women, despite working full-time, face a more significant wage discrepancy compared to men in the same roles.
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Race
In Independence County, the population is predominantly White, constituting 86.73% 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 $54,960.
- In Independence County, White is both the largest group and the one with the highest median household income, which stands at $54,960.
- In Independence County, the median household income for the households where the householder is White increased by $9,275(20.30%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $45,685 in 2011 and $54,960 in 2021.
- In Independence County, the median household income for Black or African American households was $19,227 in 2011(2022 inflation-adjusted dollars). However there is no reported data for 2021, indicating a lack of information for this specific year.
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Year by year
Independence County, AR median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Independence County increased by $7,357 (15.75%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2019 to 2020, when the median household income increased by 4,604 (from $50,888 to $55,492). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 1,580 (from $45,606 to $44,026).
- It then further increased to $92,682 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4552, it is evident that income distribution in Independence County, AR exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $64,806. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $28,195.
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