Hardwood Acres CDP Michigan Income Charts

This section shows the Hardwood Acres CDP Michigan economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Hardwood Acres CDP indicates it has a Median earnings of $47,207 which is the second most median earnings of all the places in the greater Hardwood Acres CDP region. The place with the highest median earnings per worker in the area is Bendon CDP which depicts a median earnings of $59,412 (25.9% larger). Comparing median earnings per worker to the United States average of $53,269, Hardwood Acres CDP is about 12.8% smaller. Also, compared to the state of Michigan, median earnings per worker of $52,738, Hardwood Acres CDP is about 11.7% 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 $98,079 which is more than all other places in the greater Hardwood Acres CDP region. Comparing median household income to the United States average of $69,021, Hardwood Acres CDP is 42.1% larger. Also, measured against the state of Michigan, median household income of $63,202, Hardwood Acres CDP is 55.2% larger.

The next section examines a variety of different income statistics for the Hardwood Acres CDP metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 12.9% of the total and is ranked #3. Only #2 Maple Grove CDP (14.6%), and #1 Bendon CDP (21.2%) are larger. Second, it has one of the largest proportions of earnings between $10,000 and $14,999 at 14.5% of the total and is ranked #2. The only larger place being Lake Ann with 17.1%. Third, it has the second smallest in terms of median earnings of less than $10,000 of all the other places in the metropolitan area in order of earnings between $15,000 and $19,999 at 17.2% of the total. Also, it has the largest proportion of earnings between $20,000 and $49,999 at 44.5% of the total and is ranked #1. In addition, it has the largest proportion of earnings between $50,000 and $74,999 at 11.0% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 46.4 which is the highest of all places in the greater Hardwood Acres CDP region. 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 $19.57 which is in the mid range of other places in the metropolitan area. The place with the highest average hourly earnings in the area is Bendon CDP which indicates an average hourly earnings of $25.68 (31.2% larger). Comparing average hourly earnings to the United States average of $26.40, Hardwood Acres CDP is approximately three-fourths the size. Also, measured against the state of Michigan, average hourly earnings of $26.48, Hardwood Acres CDP is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Hardwood Acres CDP metro area based on the number of people who reported any self employment income. Hardwood Acres CDP depicts it has a Self Employed of 21.0% which is the third most people self employed of all other places in the greater Hardwood Acres CDP region. The place with the highest percentage of people self employed in the area is Cedar CDP which depicts a percentage self employed of 40.0% (about twice as large).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $97,927 of the total and is ranked #2. The only larger place being Lake Ann with $130,000. Second, it has the largest proportion of median income-25 to 44 years at $113,606 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 33.8% which is in the mid range of other places in the local area. The place with the highest households with retirement income in the area is Maple Grove CDP which shows a households with retirement income of 69.0% (about twice as large).

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 $94,870 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. Hardwood Acres CDP shows it has the hightest cost of 118.6 for the cost of utilities group.

Hardwood Acres CDP Michigan 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 depicts that from February 2010 to before the disasterous COVID Pandemic the monthly unemployment rate went from 16.8% to 6.4% in February 2020. This represents a decrease in the monthly unemployment rate of 61.9%. Since that time, the monthly unemployment rate has gone to 6.5% This represents an increase in the monthly unemployment rate of very little. 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 depicts that from February 2010 to before the disasterous Coronavirus Pandemic the monthly labor force participation went from 17,816 to 15,352 in March 2020. This represents a decrease in the monthly labor force participation of 13.8%. Since that time, the monthly labor force participation has gone to 15,339 This represents a decrease in the monthly labor force participation of very little. Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Hardwood Acres CDP depicts it has a Labor Force Participation of 73.9% which is the second most participation rates of all the places in the greater Hardwood Acres CDP region.

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 Hardwood Acres CDP area. Hardwood Acres CDP depicts it has a Single Earner Families of 42.9% which is the second most families with a single earner of all the places in the greater Hardwood Acres CDP region. The place with the highest families with a single earner in the area is Cedar CDP which shows a single earners rate of 100.0% (approximately 2.3 times bigger).

Hardwood Acres CDP Michigan Poverty Charts

The next section details economy analysis about poverty for residents of the Hardwood Acres 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. Hardwood Acres CDP depicts it has a Total In Poverty of 18 which is in the mid range of other places in the metropolitan area. The place with the highest total people earning less than the poverty level in the area is Grawn CDP which shows a total people earning less than the poverty level of 114 ( markedly bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Hardwood Acres CDP shows it has a Percent of Population In Poverty of 2.5% which is in the center range of other places in the surrounding region. The place with the highest percent of people earning less than the poverty level in the area is Interlochen CDP which depicts a percent of people in poverty of 16.4% ( considerably bigger).

In Figure 25 people who are in poverty are broken out by age group. Hardwood Acres CDP has the largest proportion of person in poverty 55 to 64 years at 100% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Hardwood Acres CDP has one of the largest proportions of highschool graduate and in poverty at 15% of the total and is ranked #2. The only larger place being Bendon CDP with 15%. 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.) Hardwood Acres CDP shows it has a Public Assistance Percent of 24.6% which is the third most households with public assistance of all other places in the greater Hardwood Acres CDP region. The place with the highest households with public assistance in the area is Bendon CDP which depicts a households with public assistance of 34.6% (40.4% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Hardwood Acres CDP depicts it has a Gini Index of 18.5% which is the second smallest in terms of the gini index of all the other places in the local area.

Hardwood Acres CDP Michigan Work Commute Charts

Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Hardwood Acres CDP or elsewhere.) Hardwood Acres CDP has one of the largest proportions of people who carpooled at 21% of the total and is ranked #3. Only #2 Bendon CDP (29%), and #1 Interlochen CDP (33%) are larger.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Hardwood Acres CDP has one of the largest proportions of people who leave for work between 12am to 5am at 9% of the total and is ranked #2. The only larger place being Cedar CDP with 29%. Second, it has the largest proportion of people who leave for work between 5am to 530am at 8% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 6am to 630am at 15% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 7am to 730am at 13% of the total and is ranked #1. In addition, it has the largest proportion of people who leave for work between 8am to 830am at 16% 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. Hardwood Acres CDP has one of the largest proportions of people with commute time between 5 to 9 minutes at 7% of the total and is ranked #3. Only #2 Grawn CDP (16%), and #1 Interlochen CDP (33%) are larger. Second, it has the largest proportion of people with commute time between 15 to 19 minutes at 87% of the total and is ranked #1.

The average commute time is shown in Figure 37. Hardwood Acres CDP shows it has a Avg Commute Time of 20 which is in the middle range of other places in the local area. Figure 38 shows the difference between male versus female commuting time. Hardwood Acres CDP depicts average commute time in minutes for men 10.2% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Hardwood Acres CDP has the largest proportion of no vehicle available at 29% of the total and is ranked #1. Second, it has the second smallest when ranked by no vehicle available of all the other places in the greater region in order of 1 vehicle available at 43% of the total. Third, it has less than most other places in the area when sorted by 2 vehicles available at 6% of the total. Also, it has the largest proportion of 4 vehicles available at 22% of the total and is ranked #1.

Hardwood Acres CDP Michigan Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Hardwood Acres CDP depicts it has the hightest median earnings of $56,000 for the earnings-production, transportation, material moving occupations category. The table in Figure 48, shows Hardwood Acres CDP employment data in terms of job categories and salary data.