About this dataset

Context

The dataset presents median household incomes for various household sizes in Money Creek Township, Minnesota, as reported by the U.S. Census Bureau. The dataset highlights the variation in median household income with the size of the family unit, offering valuable insights into economic trends and disparities within different household sizes, aiding in data analysis and decision-making.

Key observations

• Of the 7 household sizes (1 person to 7-or-more person households) reported by the census bureau, Money Creek township did not include 1, 6, or 7-person households. Across the different household sizes in Money Creek township the mean income is $112,083, and the standard deviation is $54,901. The coefficient of variation (CV) is 48.98%. This high CV indicates high relative variability, suggesting that the incomes vary significantly across different sizes of households.
• In the most recent year, 2023, The smallest household size for which the bureau reported a median household income was 2-person households, with an income of $75,625. It then further decreased to 66,875 for 5-person households, the largest household size for which the bureau reported a median household income.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Household Sizes:

• 1-person households
• 2-person households
• 3-person households
• 4-person households
• 5-person households
• 6-person households
• 7-or-more-person households

Variables / Data Columns

• Household Size: This column showcases 7 household sizes ranging from 1-person households to 7-or-more-person households (As mentioned above).
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific household size.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Money Creek township median household income. You can refer the same here

About this dataset

Context

The dataset tabulates the median household income in Money Creek township. It can be utilized to understand the trend in median household income and to analyze the income distribution in Money Creek township by household type, size, and across various income brackets.

Content

The dataset will have the following datasets when applicable

Please note: The 2020 1-Year ACS estimates data was not reported by the Census Bureau due to the impact on survey collection and analysis caused by COVID-19. Consequently, median household income data for 2020 is unavailable for large cities (population 65,000 and above).

• Money Creek Township, Minnesota Median Household Income Trends (2010-2021, in 2022 inflation-adjusted dollars)
• Median Household Income Variation by Family Size in Money Creek Township, Minnesota: Comparative analysis across 7 household sizes
• Income Distribution by Quintile: Mean Household Income in Money Creek Township, Minnesota
• Money Creek Township, Minnesota households by income brackets: family, non-family, and total, in 2022 inflation-adjusted dollars

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Interested in deeper insights and visual analysis?

Explore our comprehensive data analysis and visual representations for a deeper understanding of Money Creek township median household income. You can refer the same here

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