Age of householder
Per the latest American Community Survey by the Census Bureau, Indian Village sees its highest median household income among householders in the age group of 45 to 64 years old, at $89,175. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Indian Village, the median household income stands at $89,175 for householders within the 45 to 64 years age group, followed by $76,495 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $42,561.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $96(0.11%), escalating from a median of $89,079 in 2011 to $89,175 in 2021.
- 0 households where the householder is under 25 years old.
- 22(37.29%) households with a householder aged between 25 and 44 years.
- 18(30.51%) households with a householder aged between 45 and 64 years.
- 19(32.20%) households where the householder is over 65 years old.
Read more about Indian Village, IN median household income by age ➔
Race
In Indian Village, the population is predominantly White, constituting 60% 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 $59,450.
- In Indian Village, despite the White population being the most populous, it is worth noting that Black or African American households actually reports the highest median household income, with a median income of $101,336. This reveals that, while Whites may be the most numerous in Indian Village, Black or African American households experience greater economic prosperity in terms of median household income.
- In Indian Village, the median household income for the households where the householder is White decreased by $21,184(26.27%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $80,634 in 2011 and $59,450 in 2021.
- In Indian Village, the median household income for the households where the householder is Black or African American increased by $44,130(77.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $57,206 in 2011 and $101,336 in 2021.
Read more about Indian Village, IN median household income by race ➔
Year by year
Indian Village, IN median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Indian Village increased by $13,249 (21.14%), 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 2019 to 2020, when the median household income increased by 19,264 (from $48,441 to $67,705). Similarly the most substantial year-by-year decline occured from 2018 to 2019, when the median household income decreased by 22,190 (from $70,631 to $48,441).
- It then further increased to $104,038 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3206, it is evident that income distribution in Indian Village, IN exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $72,338. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $42,966.
Read more about Indian Village, IN median household income ➔