Age of householder
Per the latest American Community Survey by the Census Bureau, South Orange Village township sees its highest median household income among householders in the age group of 25 to 44 years old, at $204,766. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in South Orange Village township, the median household income stands at $204,766 for householders within the 25 to 44 years age group, followed by $198,475 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 $117,743.
- Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $21,599(11.79%), escalating from a median of $183,167 in 2011 to $204,766 in 2021.
- 117(2.09%) households where the householder is under 25 years old.
- 1,784(31.88%) households with a householder aged between 25 and 44 years.
- 2,351(42.01%) households with a householder aged between 45 and 64 years.
- 1,344(24.02%) households where the householder is over 65 years old.
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Gender
In South Orange Village township, the population consists of 8,636 males (47.85%) and 9,413 females (52.15%). Here are the primary highlights from the gender-based income distribution analysis:
- In South Orange Village township, the median income for all workers aged 15 years and older, regardless of work hours, was $70,437 for males and $53,023 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $155,984 for males and $96,499 for females.
- In South Orange Village township, the median income for all workers aged 15 years and older, regardless of work hours, was $70,437 for males and $53,023 for females.
- In South Orange Village township, among full-time, year-round workers aged 15 years and older, males earned a median income of $155,984, while females earned $96,499, leading to a 38% gender pay gap among full-time workers. This illustrates that women earn 62 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 South Orange Village township, the population is predominantly White, constituting 64.40% 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 $185,736.
- In South Orange Village township, despite the White population being the most populous, it is worth noting that Some Other Race households actually reports the highest median household income, with a median income of $223,479. This reveals that, while Whites may be the most numerous in South Orange Village township, Some Other Race households experience greater economic prosperity in terms of median household income.
- In South Orange Village township, the median household income for the households where the householder is White increased by $16,869(9.99%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $168,867 in 2011 and $185,736 in 2021.
- In South Orange Village township, the median household income for the households where the householder is Black or African American decreased by $41,728(23.62%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $176,686 in 2011 and $134,958 in 2021.
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Year by year
South Orange Village Township, New Jersey median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for South Orange Village township increased by $6,877 (4.13%), 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 2019 to 2020, when the median household income increased by 11,252 (from $159,645 to $170,897). Similarly the most substantial year-by-year decline occured from 2012 to 2013, when the median household income decreased by 17,662 (from $172,168 to $154,506).
- It then further increased to $206,789 for 7-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.4904, it is evident that income distribution in South Orange Village Township, New Jersey exihibits characterstics of moderate inequality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $213,962. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $56,598.
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