Median Household Income by Age of Householder in Bridgeport, WV (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Bridgeport. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Bridgeport.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $98,879 |
45 to 64 years | $127,942 |
65 years and over | $65,091 |
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Bridgeport, WV 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 Bridgeport population by age, the median age in Bridgeport is 43.6 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, within Bridgeport, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $98,879.
In terms of income distribution across age cohorts, in Bridgeport, the median household income stands at $127,942 for householders within the 45 to 64 years age group, followed by $98,879 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 $65,091.
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 Bridgeport.
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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $12,189(10.53%), escalating from a median of $115,753 in 2011 to $127,942 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 $3,657(3.57%), declining from a median of $102,536 in 2011 to $98,879 in 2021.
Bridgeport, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Bridgeport 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 59(1.59%) households where the householder is under 25 years old, 1,103(29.78%) households with a householder aged between 25 and 44 years, 1,249(33.72%) households with a householder aged between 45 and 64 years, and 1,293(34.91%) households where the householder is over 65 years old.
The age group of 45 to 64 years exhibits the highest median household income, while the largest number of households falls within the 65 years and over bracket. This distribution hints at economic disparities within the city of Bridgeport, showcasing varying income levels among different age demographics.
Age-wise distribution of Bridgeport household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Bridgeport: 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 | - | 19 | 28 | 59 |
$10,000 - $14,999 | - | - | 34 | 15 |
$15,000 - $19,999 | - | 12 | 12 | 64 |
$20,000 - $24,999 | - | 10 | - | 63 |
$25,000 - $29,999 | - | 37 | 59 | 67 |
$30,000 - $34,999 | 32 | - | 10 | 28 |
$35,000 - $39,999 | - | 15 | - | 61 |
$40,000 - $44,999 | - | 83 | - | 99 |
$45,000 - $49,999 | - | 32 | - | 38 |
$50,000 - $59,999 | - | 114 | 43 | 149 |
$60,000 - $74,999 | - | 48 | 118 | 169 |
$75,000 - $99,999 | 14 | 215 | 236 | 66 |
$100,000 - $124,999 | - | 172 | 140 | 166 |
$125,000 - $149,999 | 13 | 127 | 187 | 104 |
$150,000 - $199,999 | - | 80 | 85 | 63 |
$200,000 or more | - | 139 | 297 | 82 |
To further explore the income distribution and gain insights into financial landscape of Bridgeport when compared to the state of West 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 worth noting that 45.76% of the households in Bridgeport, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $54,329 for the state of West Virginia. These 27 Bridgeport households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Bridgeport, among households headed by individuals aged 25 to 44, an impressive 81.14% match or surpass the state of West Virginia median income of $54,329. These 895 households, represent a significant portion of the total 1,103 households in Bridgeport within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Bridgeport, within the age group of 45 to 64 years, a remarkable 88.55% of households meet or exceed the state of West Virginia median income of $54,329. These 1,106 households, out of the total 1,249 households in this age cohort, signify a substantial portion of mature demographic of Bridgeport, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
- Householder 65 years and over: In Bridgeport, among the over 65 years age group, an impressive 61.79% of households either match or surpass the state of West Virginia median income of $54,329. These 799 households, constituting a significant portion of the Bridgeport city senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.
Things to know
Which age group reports the highest median household income in Bridgeport, WV?
In Bridgeport, households led by individuals aged 45 to 64 years report the highest median household income of $127,942 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 Bridgeport, WV?
In terms of income distribution across age cohorts, in Bridgeport, the median household income stands at $127,942 for householders within the 45 to 64 years age group, followed by $98,879 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 $65,091..
How does the median household income for households led by individuals of median age compare in Bridgeport, WV?
The median age in Bridgeport is 43.6, 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, within Bridgeport, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $98,879.
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)