Age of householder
Per the latest American Community Survey by the Census Bureau, Solon township sees its highest median household income among householders in the age group of 25 to 44 years old, at $117,508. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Solon township, the median household income stands at $117,508 for householders within the 25 to 44 years age group, followed by $107,242 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $43,793.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $36,464(51.52%), escalating from a median of $70,778 in 2011 to $107,242 in 2021.
- 26(1.03%) households where the householder is under 25 years old.
- 632(24.94%) households with a householder aged between 25 and 44 years.
- 1,159(45.74%) households with a householder aged between 45 and 64 years.
- 717(28.30%) households where the householder is over 65 years old.
Read more about Solon township, Kent County, Michigan median household income by age ➔
Gender
In Solon township, the population consists of 3,260 males (50.28%) and 3,224 females (49.72%). Here are the primary highlights from the gender-based income distribution analysis:
- In Solon township, the median income for all workers aged 15 years and older, regardless of work hours, was $58,035 for males and $31,964 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $70,085 for males and $59,434 for females.
- In Solon township, the median income for all workers aged 15 years and older, regardless of work hours, was $58,035 for males and $31,964 for females.
- In Solon township, among full-time, year-round workers aged 15 years and older, males earned a median income of $70,085, while females earned $59,434, resulting in a 15% gender pay gap among full-time workers. This illustrates that women earn 85 cents for each dollar earned by men in full-time positions. While this gap shows a trend where women are inching closer to wage parity with men, it also exhibits a noticeable income difference for women working full-time in the township of Solon township.
Read more about Solon township, Kent County, Michigan income by gender ➔
Race
In Solon township, the population is predominantly White, constituting 95.02% 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 $88,240.
- In Solon township, White is both the largest group and the one with the highest median household income, which stands at $88,240.
- In Solon township, the median household income for the households where the householder is White increased by $20,030(29.37%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $68,210 in 2011 and $88,240 in 2021.
- Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2011 and 2021.
Read more about Solon township, Kent County, Michigan median household income by race ➔
Year by year
Solon township, Kent County, Michigan median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Solon township increased by $17,809 (25.94%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 7 years and declined for 4 years.
- The most significant year-by-year growth occured from 2020 to 2021, when the median household income increased by 7,998 (from $78,475 to $86,473). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 7,243 (from $85,718 to $78,475).
- It then further increased to $153,331 for 5-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.3431, it is evident that income distribution in Solon township, Kent County, Michigan exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $109,585. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $35,912.
Read more about Solon township, Kent County, Michigan median household income ➔