Age of householder
Per the latest American Community Survey by the Census Bureau, Verdon township sees its highest median household income among householders in the age group of 45 to 64 years old, at $132,952. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Verdon township, where there exist only two delineated age groups, the median household income is $132,952 for householders within the 45 to 64 years age group, compared to $56,072 for the 65 years and over age group.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $76,563(135.78%), escalating from a median of $56,389 in 2011 to $132,952 in 2021.
- 0 households where the householder is under 25 years old.
- 0 households with a householder aged between 25 and 44 years.
- 10(66.67%) households with a householder aged between 45 and 64 years.
- 5(33.33%) households where the householder is over 65 years old.
Read more about Verdon Township, Minnesota median household income by age ➔
Gender
In Verdon township, the population consists of 27 males (79.41%) and 7 females (20.59%). Here are the primary highlights from the gender-based income distribution analysis:
- In Verdon township, while the Census reported a median income of $36,819 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- However, when specifically considering full-time, year-round workers within the same age group, the Census reported a median income of $66,206 for females, while data for males was unavailable due to an insufficient number of sample observations.
- In Verdon township, while the Census reported a median income of $36,819 for all male workers aged 15 years and older, data for females in the same category was unavailable due to an insufficient number of sample observations.
- In Verdon township, for full-time, year-round workers aged 15 years and older, the Census reported a median income of $66,206 for females, while data for males was unavailable due to an insufficient number of sample observations.
Read more about Verdon Township, Minnesota income by gender ➔
Race
In Verdon 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 $100,660.
- In Verdon township, White is both the largest group and the one with the highest median household income, which stands at $100,660.
- In Verdon township, the median household income for the households where the householder is White increased by $45,088(81.13%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $55,572 in 2011 and $100,660 in 2021.
- As per the U.S. Census Bureau population data, in Verdon 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 Verdon Township, Minnesota median household income by race ➔
Year by year
Verdon Township, Minnesota median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Verdon township increased by $64,398 (177.59%), as per the American Community Survey estimates.
- Between 2010 and 2021, median household income, adjusted for 2022 inflation, experienced growth year by year for 8 years and declined for 3 years.
- The most significant year-by-year growth occured from 2018 to 2019, when the median household income increased by 18,608 (from $83,296 to $101,904). Similarly the most substantial year-by-year decline occured from 2019 to 2020, when the median household income decreased by 17,862 (from $101,904 to $84,042).
- Additionally, the Census Bureau did not report a median household income for larger household sizes.
- With a Gini coefficient of 0.4541, it is evident that income distribution in Verdon Township, Minnesota exihibits characterstics of moderate inequality .
- NA. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $34,679.
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