Median Household Income by Age of Householder in Bear Creek, AL (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Bear Creek. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Bear Creek.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $36,751 |
45 to 64 years | $34,038 |
65 years and over | - |
TABLE OF CONTENTS
Bear Creek, AL 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 Bear Creek population by age, the median age in Bear Creek is 40.3 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 Bear Creek, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $36,751.
In terms of income distribution across age cohorts, in Bear Creek, where there exist only two delineated age groups, the median household income is $36,751 for householders within the 25 to 44 years age group, compared to $34,038 for the 45 to 64 years age group.
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 Bear Creek.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the two age groups with available Census data in both 2011 and 2021, none had an increase in this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $14,124(29.33%), declining from a median of $48,162 in 2011 to $34,038 in 2021. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $21,993(37.44%), declining from a median of $58,744 in 2011 to $36,751 in 2021.
Bear Creek, AL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Bear Creek 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 21(4.10%) households where the householder is under 25 years old, 94(18.36%) households with a householder aged between 25 and 44 years, 235(45.90%) households with a householder aged between 45 and 64 years, and 162(31.64%) households where the householder is over 65 years old.
The age group of 25 to 44 years exhibits the highest median household income, while the largest number of households falls within the 45 to 64 years bracket. This distribution hints at economic disparities within the town of Bear Creek, showcasing varying income levels among different age demographics.
Age-wise distribution of Bear Creek household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Bear Creek: 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 | - | 12 | 25 | - |
$10,000 - $14,999 | - | - | 29 | 29 |
$15,000 - $19,999 | - | 2 | 47 | 13 |
$20,000 - $24,999 | - | 10 | 1 | 23 |
$25,000 - $29,999 | - | 14 | - | 11 |
$30,000 - $34,999 | - | 15 | 26 | 6 |
$35,000 - $39,999 | - | - | 21 | 2 |
$40,000 - $44,999 | - | - | 5 | 3 |
$45,000 - $49,999 | - | - | 3 | - |
$50,000 - $59,999 | - | 12 | 31 | - |
$60,000 - $74,999 | 21 | 27 | 25 | 17 |
$75,000 - $99,999 | - | - | 19 | 38 |
$100,000 - $124,999 | - | - | - | - |
$125,000 - $149,999 | - | - | - | 20 |
$150,000 - $199,999 | - | 2 | 3 | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Bear Creek when compared to the state of Alabama 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 impressive that 100% of the households in Bear Creek, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $59,674 for the state of Alabama. These 21 Bear Creek households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Bear Creek, among households headed by individuals aged 25 to 44,worth noting that 43.62% match or surpass the state of Alabama median income of $59,674. These 41 households, represent a notable portion of the total 94 households in Bear Creek within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Bear Creek, within the age group of 45 to 64 years, a noteworthy 33.19% of households meet or exceed the state of Alabama median income of $59,674. These 78 households, out of the total 235 households in this age cohort, signify a notable portion of mature demographic of Bear Creek, showcasing commendable financial stability in comparison to the Alabama state median income benchmark.
- Householder 65 years and over: In Bear Creek, among the over 65 years age group, a noteworthy 46.30% of households either match or surpass the state of Alabama median income of $59,674. These 75 households, constituting notable portion of the Bear Creek town senior population, showcase commendable financial stability compared to the Alabama state median income benchmark.
Things to know
Which age group reports the highest median household income in Bear Creek, AL?
In Bear Creek, households led by individuals aged 25 to 44 years report the highest median household income of $36,751 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 Bear Creek, AL?
In terms of income distribution across age cohorts, in Bear Creek, where there exist only two delineated age groups, the median household income is $36,751 for householders within the 25 to 44 years age group, compared to $34,038 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Bear Creek, AL?
The median age in Bear Creek is 40.3, 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 Bear Creek, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $36,751.
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)