Median Household Income by Age of Householder in Acton, Massachusetts (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Acton town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Acton town.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $167,992 |
45 to 64 years | $191,112 |
65 years and over | $98,788 |
TABLE OF CONTENTS
Acton, Massachusetts median household income by age of householder
As one can expect, household incomes typically rise as the head of the household gets older. However, this upward trend reaches a peak at a certain point, and beyond that, it tends to level off or even decrease. Based on our analysis of the distribution of Acton town population by age, the median age in Acton town is 43.5 years.
Typically for a location with median age in this range, it suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Acton town, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $167,992.
In terms of income distribution across age cohorts, in Acton town, the median household income stands at $191,112 for householders within the 45 to 64 years age group, followed by $167,992 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $98,788.
For a better visual representation of these income disparities, refer to the bar chart below. It offers a clear illustration of the differences in median household incomes based on the age of householders, derived from most current ACS data provided by the Census Bureau for the town of Acton town.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the three age groups with available Census data in both 2011 and 2021, none had a decline during this time period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $27,349(38.28%), escalating from a median of $71,439 in 2011 to $98,788 in 2021. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $9,747(5.37%), increasing from a median of $181,365 in 2011 to $191,112 in 2021.
Acton, Massachusetts household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Acton town population, we conducted an analysis of household incomes across 16 distinct brackets within four age cohorts: under 25 years, 25 to 44 years, 45 to 64 years, and over 65 years.
Upon closer examination of the distribution of households among age brackets, it reveals that there are 89(1%) households where the householder is under 25 years old, 2,420(27.10%) households with a householder aged between 25 and 44 years, 4,198(47%) households with a householder aged between 45 and 64 years, and 2,224(24.90%) households where the householder is over 65 years old.
In Acton town, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.
Age-wise distribution of Acton town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Acton town: Under 25 years, 25-44 years, 45-64 years, and over 65 years. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
---|---|---|---|---|
Less than $10,000 | - | 34 | 84 | 115 |
$10,000 - $14,999 | - | 16 | 142 | 138 |
$15,000 - $19,999 | - | - | 58 | 36 |
$20,000 - $24,999 | 25 | 35 | 44 | 58 |
$25,000 - $29,999 | - | 46 | 8 | 105 |
$30,000 - $34,999 | - | 20 | 52 | 9 |
$35,000 - $39,999 | 20 | 8 | 45 | 52 |
$40,000 - $44,999 | - | 136 | 211 | 11 |
$45,000 - $49,999 | - | 18 | 46 | 54 |
$50,000 - $59,999 | - | 205 | 122 | 132 |
$60,000 - $74,999 | 44 | 97 | 232 | 222 |
$75,000 - $99,999 | - | 79 | 266 | 285 |
$100,000 - $124,999 | - | 185 | 261 | 343 |
$125,000 - $149,999 | - | 303 | 245 | 126 |
$150,000 - $199,999 | - | 391 | 573 | 298 |
$200,000 or more | - | 847 | 1,809 | 240 |
To further explore the income distribution and gain insights into financial landscape of Acton town when compared to the state of Massachusetts and The United States, we analyzed household incomes across various age cohorts and their corresponding income brackets. Here, are our key findings:
- Householder under 25 years: It is noteworthy that no households in Acton town, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $94,488 for the state of Massachusetts. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Acton town, among households headed by individuals aged 25 to 44, an impressive 74.59% match or surpass the state of Massachusetts median income of $94,488. These 1,805 households, represent a significant portion of the total 2,420 households in Acton town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Acton town, within the age group of 45 to 64 years, a remarkable 75.13% of households meet or exceed the state of Massachusetts median income of $94,488. These 3,154 households, out of the total 4,198 households in this age cohort, signify a substantial portion of mature demographic of Acton town, showcasing commendable financial stability in comparison to the Massachusetts state median income benchmark.
- Householder 65 years and over: In Acton town, among the over 65 years age group, an impressive 58.09% of households either match or surpass the state of Massachusetts median income of $94,488. These 1,292 households, constituting a significant portion of the Acton town town senior population, showcase commendable financial stability compared to the Massachusetts state median income benchmark.
Things to know
Which age group reports the highest median household income in Acton, Massachusetts?
In Acton town, households led by individuals aged 45 to 64 years report the highest median household income of $191,112 according to the American Community Survey 2017-2021 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Acton, Massachusetts?
In terms of income distribution across age cohorts, in Acton town, the median household income stands at $191,112 for householders within the 45 to 64 years age group, followed by $167,992 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $98,788..
How does the median household income for households led by individuals of median age compare in Acton, Massachusetts?
The median age in Acton town is 43.5, which falls within the 25 to 44 years range among the four age groups defined by the US Census Bureau. This demographic suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Acton town, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $167,992.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)