Fancy Farm CDP Kentucky Income Charts

This section shows the Fancy Farm CDP Kentucky economy using the most recent economic analysis from the 2021 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Fancy Farm CDP indicates it has a Median earnings of $35,526 which is the third most of all other places in the local area. The place with the highest median earnings per worker in the area is Mayfield which depicts a median earnings of $37,970 (6.9% larger). Comparing median earnings per worker to the United States average of $50,459, Fancy Farm CDP is approximately three-fourths the size. Also, compared to the state of Kentucky, median earnings per worker of $44,129, Fancy Farm CDP is about 24.2% smaller.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $34,773 which is in the center range of other places in the greater region. The place with the highest median household income in the area is Cunningham CDP which depicts a median income of $53,261 (53.2% larger). Comparing median household income to the United States average of $64,994, Fancy Farm CDP is approximately half the size. Also, compared to the state of Kentucky, median household income of $52,238, Fancy Farm CDP is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Fancy Farm CDP metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 10.1% of the total and is ranked #3. Only #2 Wingo (16.5%), and #1 Hickory CDP (20.5%) are larger. Second, it has in the middle range of other places in the metro area as measured by earnings between $10,000 and $14,999 at 0.5% of the total. Third, it has less than most other places in the local area when sorted by earnings between $15,000 and $19,999 at 38.6% of the total. Also, it has one of the largest proportions of earnings between $75,000 and $99,999 at 9.0% of the total and is ranked #2. The only larger place being Cunningham CDP with 10.5%.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 39.0 which is the second most average hours of all the places in the greater Fancy Farm CDP region. The place with the highest average hours in the area is Cunningham CDP which shows an average hours of 41.1 (only about 5.4% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $17.52 which is the third most average hourly earnings of all other places in the greater Fancy Farm CDP region. The place with the highest average hourly earnings in the area is Wingo which shows an average hourly earnings of $19.58 (11.8% larger). Comparing average hourly earnings to the United States average of $25.01, Fancy Farm CDP is approximately three-fourths the size. Also, compared to the state of Kentucky, average hourly earnings of $21.76, Fancy Farm CDP is about 24.2% smaller.

Figure 7 examines the number of self employed people in the Fancy Farm CDP metro area based on the number of people who reported any self employment income. Fancy Farm CDP shows it has a Self Employed of 6.9% which is the third most people self employed of all other places in the greater Fancy Farm CDP region. The place with the highest percentage of people self employed in the area is Pryorsburg CDP which depicts a percentage self employed of 20.7% (approximately 3.0 times bigger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $75,714 of the total and is ranked #1. Second, it has one of the largest proportions of median income-45 to 64 years at $32,083 of the total and is ranked #2. The only larger place being Mayfield with $36,005.

Figure 9 breaks down the source of income and Fancy Farm CDP has the largest proportion of self employment income at 17.8% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 41.4% which is more than all other places in the greater Fancy Farm CDP region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $68,897 of the total and is ranked #1.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Fancy Farm CDP depicts it has the hightest cost of 96.5 for the cost of utilities aggregate.

Fancy Farm CDP Kentucky Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It shows that from January 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 10.1% to 6.3% in March 2020. This represents a decrease in the monthly unemployment rate of 37.6%. Since that time, the monthly unemployment rate has gone to 4.2% This represents a decrease in the monthly unemployment rate of 33.3%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from January 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 10,677 to 10,234 in March 2020. This represents a decrease in the monthly labor force participation of 4.1%. Since that time, the monthly labor force participation has gone to 10,451 This represents an increase in the monthly labor force participation of 2.1%. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Fancy Farm CDP depicts it has a Labor Force Participation of 40.0% which is in the center range of other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Fancy Farm CDP depicts full time employees approximately 3.6 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Fancy Farm CDP area. Fancy Farm CDP depicts it has a Single Earner Families of 50.0% which is in the middle range of other places in the metro area. The place with the highest families with a single earner in the area is Lowes CDP which shows a single earners rate of 100.0% (about twice as large). The percentage of families with no one working is depicted in Figure 22. Fancy Farm CDP depicts it has a Families with No One Working of 16.7% which is in the mid range of other places in the greater region. The place with the highest families with no one working in the area is Mayfield which depicts a families with no worker of 24.5% (46.9% larger).

Fancy Farm CDP Kentucky Poverty Charts

The next section details economy analysis about poverty for residents of the Fancy Farm CDP community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Fancy Farm CDP depicts it has a Total In Poverty of 70 which is in the mid range of other places in the local area. The place with the highest total people earning less than the poverty level in the area is Mayfield which depicts a total people earning less than the poverty level of 3,311 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Fancy Farm CDP shows it has a Percent of Population In Poverty of 13.6% which is the second smallest as measured by percent of people earning less than the poverty level of all the other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is Pryorsburg CDP which shows a percent of people in poverty of 57.5% (approximately 4.2 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Fancy Farm CDP has the percentage of person in poverty 12 to 17 years in the mid range of other places in the local area at 4% of the total. Second, it has in the middle range of other places in the local area in order of person in poverty 35 to 54 years at 9% of the total. Third, it has one of the largest proportions of person in poverty 55 to 64 years at 59% of the total and is ranked #2. The only larger place being Cunningham CDP with 100%.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Fancy Farm CDP has the percentage of less than highschool in poverty less than most other places in the greater region at 17% of the total. Second, it has one of the largest proportions of highschool graduate and in poverty at 34% of the total and is ranked #2. The only larger place being Hickory CDP with 50%. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Fancy Farm CDP has one of the largest proportions of people who are in poverty and unemployed at 31.4% of the total and is ranked #3. Only #2 Hickory CDP (34.0%), and #1 Lowes CDP (52.3%) are larger. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Fancy Farm CDP indicates it has a Public Assistance Percent of 24.1% which is the second most of all the places in the local area. The place with the highest households with public assistance in the area is Lowes CDP which shows a households with public assistance of 33.9% (40.3% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Fancy Farm CDP depicts it has a Gini Index of 46.2% which is in the center range of other places in the surrounding region.

Fancy Farm CDP Kentucky Work Commute Charts

In Figure 35 is shown a frequency distribution of the time that people leave for work. Fancy Farm CDP has the largest proportion of people who leave for work between 6am to 630am at 24% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 12noon to 4pm at 20% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Fancy Farm CDP has one of the largest proportions of people with commute time between 5 to 9 minutes at 12% of the total and is ranked #2. The only larger place being Mayfield with 23%. Second, it has the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the local area when sorted by people with commute time between 10 to 14 minutes at 4% of the total. Third, it has the largest proportion of people with commute time between 20 to 24 minutes at 40% of the total and is ranked #1. Also, it has the largest proportion of people with commute time between 30 to 34 minutes at 4% of the total and is ranked #1. In addition, it has the largest proportion of people with commute time between 45 to 59 minutes at 4% of the total and is ranked #1.

The average commute time is shown in Figure 37. Fancy Farm CDP shows it has a Avg Commute Time of 28 which is at the top of all other places in the greater Fancy Farm CDP region. Figure 38 shows the difference between male versus female commuting time. Fancy Farm CDP depicts average commute time in minutes for men 17.7% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Fancy Farm CDP has one of the largest proportions of no vehicle available at 10% of the total and is ranked #3. Only #2 Wingo (21%), and #1 Mayfield (24%) are larger. Second, it has the smallest proportion of 1 vehicle available at 15% of the total. Third, it has the largest proportion of 2 vehicles available at 74% of the total and is ranked #1.

Fancy Farm CDP Kentucky Jobs Charts

The table in Figure 48, shows Fancy Farm CDP employment data in terms of job categories and salary data.

Fancy Farm CDP Kentucky Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Fancy Farm CDP shows it has the hightest entrepreneurs of 100% for the self employed management, business, science, and arts businesses aggregate.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Fancy Farm CDP depicts it has the hightest entrepreneurs of 100% for the self employed in agriculture, forestry, fishing and hunting, and mining grouping.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Fancy Farm CDP depicts total number of self-employed men 78.6% larger as the total number of self-employed women.