Age of householder
Per the latest American Community Survey by the Census Bureau, Washington Park sees its highest median household income among householders in the age group of 25 to 44 years old, at $115,793. Here are the key highlights for income distribution by age:
- In terms of income distribution across age cohorts, in Washington Park, the median household income stands at $115,793 for householders within the 25 to 44 years age group, followed by $114,847 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 $51,682.
- Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $12,283(11.98%), escalating from a median of $102,564 in 2011 to $114,847 in 2021.
- 2(0.85%) households where the householder is under 25 years old.
- 41(17.37%) households with a householder aged between 25 and 44 years.
- 58(24.58%) households with a householder aged between 45 and 64 years.
- 135(57.20%) households where the householder is over 65 years old.
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Gender
In Washington Park, the population consists of 211 males (43.06%) and 279 females (56.94%). Here are the primary highlights from the gender-based income distribution analysis:
- In Washington Park, the median income for all workers aged 15 years and older, regardless of work hours, was $49,317 for males and $42,936 for females.
- However, when specifically considering full-time, year-round workers within the same age group, the median income was $69,449 for males and $63,353 for females.
- In Washington Park, the median income for all workers aged 15 years and older, regardless of work hours, was $49,317 for males and $42,936 for females.
- In Washington Park, among full-time, year-round workers aged 15 years and older, males earned a median income of $69,449, while females earned $63,353, resulting in a 9% gender pay gap among full-time workers. This illustrates that women earn 91 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 town of Washington Park.
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Race
In Washington Park, the population is predominantly White, constituting 94.29% 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 $90,623.
- In Washington Park, White is both the largest group and the one with the highest median household income, which stands at $90,623.
- In Washington Park, the median household income for the households where the householder is White increased by $6,039(7.14%), between 2011 and 2021. The median household income, in 2022 inflation-adjusted dollars, was $84,584 in 2011 and $90,623 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.
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Year by year
Washington Park, NC median household income trends by year, family type and household size (2010-2021):
- From 2010 to 2021, the median household income for Washington Park decreased by $2,453 (2.63%), 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 2016 to 2017, when the median household income increased by 7,895 (from $84,171 to $92,066). Similarly the most substantial year-by-year decline occured from 2010 to 2011, when the median household income decreased by 8,781 (from $93,365 to $84,584).
- It then further increased to $145,151 for 4-person households, the largest household size for which the bureau reported a median household income.
- With a Gini coefficient of 0.383, it is evident that income distribution in Washington Park, NC exihibits characterstics of moderate equality .
- For the family households, the median income (in 2022 inflation-adjusted dollars) was $106,740. For the non-family households, the median income (in 2022 inflation-adjusted dollars) was $37,832.
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