Age of householder
Per the latest American Community Survey by the Census Bureau, Richardville township sees its highest median household income among householders in the age group of 65 years and over old, at $95,390. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, Richardville township only reports a median household income of $95,390 among householders in the 65 years and over age group.
- Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $58,886(161.31%), escalating from a median of $36,504 in 2011 to $95,390 in 2021.
- 8(22.22%) households where the householder is under 25 years old.
- 3(8.33%) households with a householder aged between 25 and 44 years.
- 16(44.44%) households with a householder aged between 45 and 64 years.
- 9(25%) households where the householder is over 65 years old.
Read more about Richardville Township, Minnesota median household income by age ➔
Gender
In Richardville township, the population consists of 51 males (63.75%) and 29 females (36.25%). Here are the primary highlights from the gender-based income distribution analysis:
- In Richardville township, the median income for all workers aged 15 years and older, regardless of work hours, was $48,641 for males and $44,588 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $51,343 for males and $70,530 for females.
- In Richardville township, the median income for all workers aged 15 years and older, regardless of work hours, was $48,641 for males and $44,588 for females.
- In Richardville township, among full-time, year-round workers aged 15 years and older, males earned a median income of $51,343, while females earned $70,530
Read more about Richardville Township, Minnesota income by gender ➔
Race
In Richardville township, the population is predominantly White, constituting 100% 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 $82,420.
- In Richardville township, White is both the largest group and the one with the highest median household income, which stands at $82,420.
- In Richardville township, the median household income for the households where the householder is White decreased by $26,272(24.17%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $108,692 in 2011 and $82,420 in 2021.
- As per the U.S. Census Bureau population data, in Richardville 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 Richardville Township, Minnesota median household income by race ➔
Year by year
Richardville Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Richardville township decreased by $15,966 (16.23%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 4 years and declined for 7 years.
- The most significant year-by-year growth occured from 2017 to 2018, when the median household income increased by 33,163 (from $49,402 to $82,565). Similarly the most substantial year-by-year decline occured from 2011 to 2012, when the median household income decreased by 27,041 (from $108,692 to $81,651).
- It then further increased to $96,742 for 2-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.2979, it is evident that income distribution in Richardville Township, Minnesota exihibits characterstics of moderate equality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $0.
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