All incomes in 2022 inflation-adjusted dollars using R-CPI-U-RS. Sources: U.S. Census Bureau, American Community Survey (ACS) 2017-2021 5-Year Estimates
TABLE OF CONTENTS
Age of householder
Per the latest American Community Survey by the Census Bureau, Pound Ridge town sees its highest median household income among householders in the age group of 25 to 44 years old, at $270,229. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Pound Ridge town, the median household income stands at $270,229 for householders within the 25 to 44 years age group, followed by $228,149 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $224,085.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $69,961(44.23%), escalating from a median of $158,188 in 2011 to $228,149 in 2021.
- 0 households where the householder is under 25 years old.
- 161(9.14%) households with a householder aged between 25 and 44 years.
- 879(49.89%) households with a householder aged between 45 and 64 years.
- 722(40.98%) households where the householder is over 65 years old.
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Gender
In Pound Ridge town, the population consists of 2,466 males (48.71%) and 2,597 females (51.29%). Here are the primary highlights from the gender-based income distribution analysis:
- In Pound Ridge town, the median income for all workers aged 15 years and older, regardless of work hours, was $146,706 for males and $54,353 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $185,186 for males and $110,202 for females.
- In Pound Ridge town, the median income for all workers aged 15 years and older, regardless of work hours, was $146,706 for males and $54,353 for females.
- In Pound Ridge town, among full-time, year-round workers aged 15 years and older, males earned a median income of $185,186, while females earned $110,202, leading to a 40% gender pay gap among full-time workers. This illustrates that women earn 60 cents for each dollar earned by men in full-time roles. This level of income gap emphasizes the urgency to address and rectify this ongoing disparity, where women, despite working full-time, face a more significant wage discrepancy compared to men in the same employment roles.
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Race
In Pound Ridge town, the population is predominantly White, constituting 89.04% 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 $242,352.
- In Pound Ridge town, 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 $270,229. This reveals that, while Whites may be the most numerous in Pound Ridge town, Black or African American households experience greater economic prosperity in terms of median household income.
- In Pound Ridge town, the median household income for the households where the householder is White decreased by $5,270(2.13%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $247,622 in 2011 and $242,352 in 2021.
- In Pound Ridge town, the median household income for the households where the householder is Black or African American decreased by $56,666(17.33%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $326,895 in 2011 and $270,229 in 2021.
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Year by year
Pound Ridge, New York median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Pound Ridge town decreased by $56,902 (18.90%), 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 2015 to 2016, when the median household income increased by 11,731 (from $218,774 to $230,505). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 37,589 (from $275,088 to $237,499).
- It then further increased to $270,229 for 6-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4737, it is evident that income distribution in Pound Ridge, New York exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $253,094. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $130,692.
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References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)