Median Household Income by Age of Householder in Breitung Township, Minnesota (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Breitung township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Breitung township.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $95,031 |
45 to 64 years | $93,567 |
65 years and over | $52,947 |
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Breitung Township, Minnesota 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 Breitung township population by age, the median age in Breitung township is 56.4 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 Breitung township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $93,567.
In terms of income distribution across age cohorts, in Breitung township, the median household income stands at $95,031 for householders within the 25 to 44 years age group, followed by $93,567 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $52,947.
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 township of Breitung township.
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, two 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 25 to 44 years age group demonstrated a remarkable increase of $9,733(11.41%), escalating from a median of $85,298 in 2011 to $95,031 in 2021. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $29,908(36.10%), declining from a median of $82,855 in 2011 to $52,947 in 2021.
Breitung Township, Minnesota household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Breitung township 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 25(6.87%) households where the householder is under 25 years old, 55(15.11%) households with a householder aged between 25 and 44 years, 169(46.43%) households with a householder aged between 45 and 64 years, and 115(31.59%) 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 township of Breitung township, showcasing varying income levels among different age demographics.
Age-wise distribution of Breitung township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Breitung township: 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 | - | - | 2 | 3 |
$10,000 - $14,999 | - | - | - | - |
$15,000 - $19,999 | - | - | 9 | 25 |
$20,000 - $24,999 | - | - | - | 10 |
$25,000 - $29,999 | - | - | 5 | - |
$30,000 - $34,999 | - | - | - | 2 |
$35,000 - $39,999 | 21 | 9 | 15 | 2 |
$40,000 - $44,999 | - | - | 7 | 2 |
$45,000 - $49,999 | - | 8 | 4 | 20 |
$50,000 - $59,999 | - | 7 | 5 | 14 |
$60,000 - $74,999 | - | - | 21 | 17 |
$75,000 - $99,999 | - | 24 | 26 | 2 |
$100,000 - $124,999 | 4 | 2 | 48 | 6 |
$125,000 - $149,999 | - | 3 | 2 | 10 |
$150,000 - $199,999 | - | 2 | 19 | 2 |
$200,000 or more | - | - | 6 | - |
To further explore the income distribution and gain insights into financial landscape of Breitung township when compared to the state of Minnesota 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 16% of the households in Breitung township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $82,338 for the state of Minnesota. These 4 Breitung township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Breitung township, among households headed by individuals aged 25 to 44, an impressive 56.36% match or surpass the state of Minnesota median income of $82,338. These 31 households, represent a significant portion of the total 55 households in Breitung township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Breitung township, within the age group of 45 to 64 years, a remarkable 59.76% of households meet or exceed the state of Minnesota median income of $82,338. These 101 households, out of the total 169 households in this age cohort, signify a substantial portion of mature demographic of Breitung township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
- Householder 65 years and over: In Breitung township, among the over 65 years age group, only 17.39% of households either match or surpass the state of Minnesota median income of $82,338. These 20 households, constituting low portion of the Breitung township township senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.
Things to know
Which age group reports the highest median household income in Breitung Township, Minnesota?
In Breitung township, households led by individuals aged 25 to 44 years report the highest median household income of $95,031 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 Breitung Township, Minnesota?
In terms of income distribution across age cohorts, in Breitung township, the median household income stands at $95,031 for householders within the 25 to 44 years age group, followed by $93,567 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $52,947..
How does the median household income for households led by individuals of median age compare in Breitung Township, Minnesota?
The median age in Breitung township is 56.4, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Breitung township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $93,567.
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)