Median Household Income by Age of Householder in Beaver Dam, KY (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Beaver Dam. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Beaver Dam.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $51,115 |
65 years and over | $53,201 |
TABLE OF CONTENTS
Beaver Dam, KY 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 Beaver Dam population by age, the median age in Beaver Dam is 39.6 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Beaver Dam. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Beaver Dam, where there exist only two delineated age groups, the median household income is $53,201 for householders within the 65 years and over age group, compared to $51,115 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 city of Beaver Dam.
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, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $18,215(52.06%), escalating from a median of $34,986 in 2011 to $53,201 in 2021. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $21,091(29.21%), declining from a median of $72,206 in 2011 to $51,115 in 2021.
Beaver Dam, KY household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Beaver Dam 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 0 households where the householder is under 25 years old, 556(38.72%) households with a householder aged between 25 and 44 years, 437(30.43%) households with a householder aged between 45 and 64 years, and 443(30.85%) households where the householder is over 65 years old.
The age group of 65 years and over exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the city of Beaver Dam, showcasing varying income levels among different age demographics.
Age-wise distribution of Beaver Dam household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Beaver Dam: 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 | - | 248 | 34 | 48 |
$10,000 - $14,999 | - | - | - | - |
$15,000 - $19,999 | - | - | 24 | 49 |
$20,000 - $24,999 | - | - | 31 | 28 |
$25,000 - $29,999 | - | - | - | - |
$30,000 - $34,999 | - | - | 48 | 36 |
$35,000 - $39,999 | - | 4 | - | - |
$40,000 - $44,999 | - | 46 | - | 33 |
$45,000 - $49,999 | - | 101 | 89 | 40 |
$50,000 - $59,999 | - | 32 | 54 | 17 |
$60,000 - $74,999 | - | - | - | 61 |
$75,000 - $99,999 | - | 24 | 104 | 29 |
$100,000 - $124,999 | - | 69 | 11 | 67 |
$125,000 - $149,999 | - | 32 | - | 27 |
$150,000 - $199,999 | - | - | 42 | - |
$200,000 or more | - | - | - | 8 |
To further explore the income distribution and gain insights into financial landscape of Beaver Dam when compared to the state of Kentucky 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: In Beaver Dam, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
- Householder 25 to 44 years: In Beaver Dam, among households headed by individuals aged 25 to 44,worth noting that 28.24% match or surpass the state of Kentucky median income of $59,341. These 157 households, represent a notable portion of the total 556 households in Beaver Dam within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Beaver Dam, within the age group of 45 to 64 years, a noteworthy 48.28% of households meet or exceed the state of Kentucky median income of $59,341. These 211 households, out of the total 437 households in this age cohort, signify a notable portion of mature demographic of Beaver Dam, showcasing commendable financial stability in comparison to the Kentucky state median income benchmark.
- Householder 65 years and over: In Beaver Dam, among the over 65 years age group, a noteworthy 47.18% of households either match or surpass the state of Kentucky median income of $59,341. These 209 households, constituting notable portion of the Beaver Dam city senior population, showcase commendable financial stability compared to the Kentucky state median income benchmark.
Things to know
Which age group reports the highest median household income in Beaver Dam, KY?
In Beaver Dam, households led by individuals aged 65 years and over report the highest median household income of $53,201 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 Beaver Dam, KY?
In terms of income distribution across age cohorts, in Beaver Dam, where there exist only two delineated age groups, the median household income is $53,201 for householders within the 65 years and over age group, compared to $51,115 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Beaver Dam, KY?
The median age in Beaver Dam is 39.6, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Beaver Dam. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
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)