Economy, IN

Census Place

2024 Population

144

US Senator

Todd Young

Republican Party

US Senator

Jim Banks

Republican Party

2024 Median Age

43.8

6.21% 1-year decrease

2024 Poverty Rate

22.2%

11.1% 1-year increase

2024 Median Household Income

$42,212

4.2% 1-year decline

2024 Median Property Value

$56,100

Population & Diversity

Economy, IN is home to a population of 144 people, from which 100% are citizens.

In 2024, there were 11.3 times more White (Non-Hispanic) residents (124 people) in Economy, IN than any other race or ethnicity. There were 11 Two Races Including Other (Hispanic) and 7 Two Races Excluding Other, & Three or More Races (Non-Hispanic) residents, the second and third most common ethnic groups.

Population & Diversity

Citizenship

100%

2024 Citizenship

100%

2023 Citizenship

As of 2024, 100% of Economy, IN residents were US citizens, which is higher than the national average of 93.2%. In 2023, the percentage of US citizens in Economy, IN was 100%, meaning that the rate of citizenship has been maintaining.

The following chart shows US citizenship percentages in Economy, IN compared to that of it's neighboring and parent geographies.

Diversity

Race and Ethnicity

The 3 largest ethnic groups in Economy, IN

White (Non-Hispanic)
124 ± 48
Two Races Including Other (Hispanic)
11 ± 21
Two Races Excluding Other, & Three or More Races (Non-Hispanic)
7 ± 11

9.03%

Hispanic Population

13 people

9.03% of the people in Economy, IN are hispanic (13 people).

The following chart shows the 8 races represented in Economy, IN as a share of the total population.

Global Diversity

The PUMS dataset is not available at the Place level, so we are showing data for Indiana.

Most Common Origin

Mexico
111,417 ± 8,128 people
India
37,388 ± 4,734 people
Nigeria
18,164 ± 3,304 people

In 2024, the most common birthplace for the foreign-born residents of Indiana was Mexico, the natal country of 111,417 Indiana residents, followed by India with 37,388 and Nigeria with 18,164.

Military

Veterans

Most Common Service Period

Vietnam
8 ± 20
Gulf War (2001-)
7 ± 17

Economy, IN has a large population of military personnel who served in Vietnam, 1.14 times greater than any other conflict.

The chart shows the distribution of veterans by conflict in Economy, IN.

Economy

The economy of Economy, IN employs 48 people. In 2024, the largest industries in Economy, IN were Health Care & Social Assistance (15 people), Manufacturing (9 people), and Transportation & Warehousing (6 people), and the highest paying industries were Educational Services ($68,125), Manufacturing ($41,607), and Educational Services, & Health Care & Social Assistance ($33,750).

Employment

Occupations

2024 Value

± 76

−18.6%

1 Year decline

± 254%

From 2023 to 2024, employment in Economy, IN declined at a rate of −18.6%, from 59 employees to 48 employees.

The most common job groups, by number of people living in Economy, IN, are Transportation Occupations (7 people), Production Occupations (7 people), and Building & Grounds Cleaning & Maintenance Occupations (5 people). This chart illustrates the share breakdown of the primary jobs held by residents of Economy, IN.

Unemployment Insurance Claims

Data is only available at the state level. Showing data for Indiana.

This chart shows weekly unemployment insurance claims in Indiana (not-seasonally adjusted) compared with the four states with the most similar impact.

The most recent data point uses Advance State Claims data, which can be revised in subsequent weeks.

Industries

Employment by Industries

2024 Value

± 76

−18.6%

1 Year decline

± 254%

From 2023 to 2024, employment in Economy, IN declined at a rate of −18.6%, from 59 employees to 48 employees.

The most common employment sectors for those who live in Economy, IN, are Health Care & Social Assistance (15 people), Manufacturing (9 people), and Transportation & Warehousing (6 people). This chart shows the share breakdown of the primary industries for residents of Economy, IN, though some of these residents may live in Economy, IN and work somewhere else. Census data is tagged to a residential address, not a work address.

Median Earnings by Industry

$41,607

Median earning men ± $884

$31,875

Median earning women ± $9,010

The industries with the best median earnings for men in 2024 are Manufacturing ($41,607).

The industries with the best median earnings for women in 2024 are Educational Services, & Health Care & Social Assistance ($31,875).

Housing & Living

The median property value in Economy, IN was $56,100 in 2024, which is 0.169 times smaller than the national average of $332,700. Between 2023 and 2024 the median property value increased from $50,000 to $56,100, a 12.2% increase. The homeownership rate in Economy, IN is 89.1%, which is higher than the national average of 65.2%.

People in Economy, IN have an average commute time of 28.9 minutes, and they drove alone to work. Car ownership in Economy, IN is higher than the national average, with an average of 3 cars per household.

Housing

Property

$56,100

Median Property Value 2024

±$20,116

$49

Median Property Taxes

±$38

The following chart display owner-occupied housing units distributed between a series of property tax buckets compared to the national averages for each bucket. In Economy, IN the largest share of households pay taxes in the < $800 range.

The chart underneath the paragraph shows the property taxes in Economy, IN compared to it's parent and neighbor geographies.

Rent vs Own

89.1%

Homeownership

2024

60.5%

Homeowners with Mortgage

2024

In 2024, 89.1% of the housing units in Economy, IN were occupied by their owner. This percentage declined from the previous year's rate of 91.5%.

This chart shows the percentage of owner in Economy, IN compared it's parent and neighboring geographies.

Equity

Household Income

Please note that the buckets used in this visualization were not evenly distributed by ACS when publishing the data.

$42,212

Median Household Income

± $11,743

Number of Households

± 32

In 2024, the median household income of the 55 households in Economy, IN declined from $42,212 from the previous year's value of $44,063.

The following chart displays the households in Economy, IN distributed between a series of income buckets compared to the national averages for each bucket. The largest share of households have an income in the $40k - $45k range.

Wage Distribution

The closest comparable wage GINI for Economy, IN is from Indiana.

0.442

2024 Wage GINI in Indiana

0.445

2023 Wage GINI in Indiana

In 2024, the income inequality in Indiana was 0.442 according to the GINI calculation of the wage distribution. Income inequality had a 0.807% decline from 2023 to 2024, which means that wage distribution grew somewhat more even. The GINI for Indiana was lower than than the national average of 0.474. In other words, wages are distributed more evenly in Indiana in comparison to the national average.

This chart shows the number of workers in Indiana across various wage buckets compared to the national average.

Transportation

Commuter Transportation

Most Common Commute in 2024

Drove Alone (63%)
Carpooled (32.6%)
Other (2.17%)

In 2024, 63% of workers in Economy, IN drove alone to work, followed by those who carpooled to work (32.6%) and those who used some unspecified means to get work (2.17%).

The following chart shows the number of households using each mode of transportation over time, using a logarithmic scale on the y-axis to help better show variations in the smaller means of commuting.

Commute Time

28.9 minutes

Average Travel Time

Using averages, employees in Economy, IN have a longer commute time (28.9 minutes) than the normal US worker (26.4 minutes). Additionally, 0% of the workforce in Economy, IN have "super commutes" in excess of 90 minutes.

The chart below shows how the median household income in Economy, IN compares to that of it's neighboring and parent geographies.

Car Ownership

3 cars

Average Number

The following chart displays the households in Economy, IN distributed between a series of car ownership buckets compared to the national averages for each bucket. The largest share of households in Economy, IN have 3 cars.

Poverty

Poverty & Diversity

22.2% of the population for whom poverty status is determined in Economy, IN (32 out of 144 people) live below the poverty line, a number that is higher than the national average of 12.5%. The largest demographic living in poverty are Females 45 - 54, followed by Males 16 - 17 and then Males 35 - 44.

The most common racial or ethnic group living below the poverty line in Economy, IN is White, followed by Two Or More and Black.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.

Social Needs

Data only available at the state level.

Most prevalent states

California
35,798 individuals
New York
5,087 individuals

In 2017, California had the highest estimated number of chronically homeless individuals in the nation, at 35,798, followed by New York (5,087).

The following map shows the estimated number of chronically homeless individuals by state over multiple years.

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