Amherst County, VA 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 Amherst County population by age, the median age in Amherst County is 44.9 years.
Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Amherst County, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $80,421.
In terms of income distribution across age cohorts, in Amherst County, householders within the 45 to 64 years age group have the highest median household income at $80,421, followed by those in the 25 to 44 years age group with an income of $75,317. Meanwhile householders within the under 25 years age group report the second lowest median household income of $59,631. Notably, householders within the 65 years and over age group, had the lowest median household income at $46,217.
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 county of Amherst County.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the four 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 Under 25 years age group demonstrated a remarkable increase of $19,703(49.35%), escalating from a median of $39,928 in 2011 to $59,631 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 $2,963(3.83%), increasing from a median of $77,458 in 2011 to $80,421 in 2021.
Amherst County, VA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Amherst County 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 204(1.63%) households where the householder is under 25 years old, 3,269(26.07%) households with a householder aged between 25 and 44 years, 4,868(38.83%) households with a householder aged between 45 and 64 years, and 4,197(33.47%) households where the householder is over 65 years old.
In Amherst County, 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 Amherst County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Amherst County: 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 | 3 | 97 | 260 | 215 |
| $10,000 - $14,999 | 14 | 130 | 170 | 299 |
| $15,000 - $19,999 | 7 | 84 | 157 | 293 |
| $20,000 - $24,999 | 6 | 207 | 179 | 309 |
| $25,000 - $29,999 | - | 114 | 236 | 299 |
| $30,000 - $34,999 | - | 122 | 135 | 313 |
| $35,000 - $39,999 | 23 | 225 | 200 | 239 |
| $40,000 - $44,999 | 8 | 60 | 224 | 223 |
| $45,000 - $49,999 | 21 | 83 | 59 | 354 |
| $50,000 - $59,999 | 56 | 187 | 229 | 327 |
| $60,000 - $74,999 | 43 | 388 | 608 | 331 |
| $75,000 - $99,999 | 20 | 677 | 705 | 378 |
| $100,000 - $124,999 | 3 | 467 | 621 | 272 |
| $125,000 - $149,999 | - | 167 | 413 | 103 |
| $150,000 - $199,999 | - | 238 | 435 | 107 |
| $200,000 or more | - | 23 | 237 | 135 |
To further explore the income distribution and gain insights into financial landscape of Amherst County when compared to the state of Virginia 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 only 11.27% of the households in Amherst County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $85,873 for the state of Virginia. These 23 Amherst County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Amherst County, among households headed by individuals aged 25 to 44,worth noting that 48.09% match or surpass the state of Virginia median income of $85,873. These 1,572 households, represent a notable portion of the total 3,269 households in Amherst County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Amherst County, within the age group of 45 to 64 years, a noteworthy 49.53% of households meet or exceed the state of Virginia median income of $85,873. These 2,411 households, out of the total 4,868 households in this age cohort, signify a notable portion of mature demographic of Amherst County, showcasing commendable financial stability in comparison to the Virginia state median income benchmark.
- Householder 65 years and over: In Amherst County, among the over 65 years age group, only 23.71% of households either match or surpass the state of Virginia median income of $85,873. These 995 households, constituting low portion of the Amherst County county senior population, showcase commendable financial stability compared to the Virginia state median income benchmark.