This section shows the Huntington Woods Michigan economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Huntington Woods depicts it has a Median earnings of $104,500 which is at the top of all other places in the greater Huntington Woods region. Comparing median earnings per worker to the United States average of $53,269, Huntington Woods is about twice as large. Also, benchmarked against the state of Michigan, median earnings per worker of $52,738, Huntington Woods is about twice as large.
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 $157,665 which is more than all other places in the greater Huntington Woods region. Comparing median household income to the United States average of $69,021, Huntington Woods is approximately 2.3 times bigger. Also, measured against the state of Michigan, median household income of $63,202, Huntington Woods is approximately 2.5 times bigger.
The next section examines a variety of different income statistics for the Huntington Woods metropolitan area. In Figure 3 we see that it has the smallest proportion of earnings less than $10,000 at 2.3% of the total. Second, it has one of the largest proportions of earnings between $75,000 and $99,999 at 37.2% of the total and is ranked #2. The only larger city being Pleasant Ridge with 40.0%. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $51.01 which is at the top of all other places in the greater Huntington Woods region. Comparing average hourly earnings to the United States average of $26.40, Huntington Woods is about twice as large. Also, benchmarked against the state of Michigan, average hourly earnings of $26.48, Huntington Woods is about twice as large.
Figure 5 examines the number of self employed people in the Huntington Woods metro area based on the number of people who reported any self employment income. Huntington Woods shows it has a Self Employed of 17.2% which is the largest of all places in the greater Huntington Woods region.
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 24.8% which is the second most households with retirement income of all the places in the greater Huntington Woods region. The city with the highest households with retirement income in the area is Lathrup Village which shows a households with retirement income of 40.5% (63.5% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Huntington Woods depicts full time employees approximately 3.0 times bigger as the part time employees.
Similar to the last chart is Figure 9 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. Huntington Woods depicts it has the hightest entrepreneurs of 55% for the self employed in professional, scientific, management, administrative services grouping.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Huntington Woods shows it has the hightest cost of 158.9 for the cost of housing aggregate.
Huntington Woods Michigan Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Huntington Woods depicts it has a Percent of Population In Poverty of 1.8% which is the smallest when ranked by percent of people earning less than the poverty level of all the other places in the local area. The city with the highest percent of people earning less than the poverty level in the area is Oak Park which depicts a percent of people in poverty of 13.0% ( considerably bigger).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Huntington Woods depicts it has a Public Assistance Percent of 2.3% which is less than most other places in the area. The city with the highest households with public assistance in the area is Oak Park which depicts a households with public assistance of 20.8% ( considerably bigger).
Huntington Woods Michigan Labor Force Charts
The table in Figure 13, shows Huntington Woods employment data in terms of job categories and salary data.
The next two charts look at 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 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the disasterous Covid-19 virus Pandemic it went from 6.5% to 4.9% in December 2019. This represents a decrease in the monthly unemployment rate of 24.6%. Since that time, the monthly unemployment rate has gone to 4.9%. This represents an increase in the monthly unemployment rate of very little.
Huntington Woods Michigan Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Huntington Woods Michigan Work Commute Charts
The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Huntington Woods community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Huntington Woods has the largest proportion of people who take public transportation to work at 3% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Huntington Woods or elsewhere.) Huntington Woods has the largest proportion of people who walked at 3% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Huntington Woods indicates it has a Avg Commute Time of 22 which is the second smallest in terms of average commute time of all the other places in the local area.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.