Candor Town, New York 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 Candor town population by age, the median age in Candor town is 48.1 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 Candor town, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $58,046.
In terms of income distribution across age cohorts, in Candor town, householders within the 25 to 44 years age group have the highest median household income at $83,355, followed by those in the 45 to 64 years age group with an income of $58,046. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $45,648. Notably, householders within the under 25 years age group, had the lowest median household income at $20,726.
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 Candor town.
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, three 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 $11,472(15.96%), escalating from a median of $71,883 in 2011 to $83,355 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 $23,796(29.08%), declining from a median of $81,842 in 2011 to $58,046 in 2021.
Candor Town, New York household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Candor town 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 97(4.09%) households where the householder is under 25 years old, 508(21.41%) households with a householder aged between 25 and 44 years, 895(37.72%) households with a householder aged between 45 and 64 years, and 873(36.79%) 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 Candor town, showcasing varying income levels among different age demographics.
Age-wise distribution of Candor town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Candor town: 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 | 8 | - | 18 | - |
| $10,000 - $14,999 | - | 27 | - | 17 |
| $15,000 - $19,999 | 57 | - | 30 | 36 |
| $20,000 - $24,999 | 13 | - | 14 | 25 |
| $25,000 - $29,999 | - | 68 | 72 | 113 |
| $30,000 - $34,999 | - | 28 | 115 | 71 |
| $35,000 - $39,999 | - | 36 | 19 | 46 |
| $40,000 - $44,999 | - | - | 94 | 215 |
| $45,000 - $49,999 | - | 24 | 61 | 37 |
| $50,000 - $59,999 | - | 15 | 95 | 25 |
| $60,000 - $74,999 | 19 | 34 | 61 | 61 |
| $75,000 - $99,999 | - | 192 | 88 | 62 |
| $100,000 - $124,999 | - | 62 | 78 | 39 |
| $125,000 - $149,999 | - | 11 | 40 | 28 |
| $150,000 - $199,999 | - | 11 | 106 | 37 |
| $200,000 or more | - | - | 4 | 61 |
To further explore the income distribution and gain insights into financial landscape of Candor town when compared to the state of New York 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 no households in Candor town, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $79,557 for the state of New York. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Candor town, among households headed by individuals aged 25 to 44, an impressive 54.33% match or surpass the state of New York median income of $79,557. These 276 households, represent a significant portion of the total 508 households in Candor town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Candor town, within the age group of 45 to 64 years, a noteworthy 35.31% of households meet or exceed the state of New York median income of $79,557. These 316 households, out of the total 895 households in this age cohort, signify a notable portion of mature demographic of Candor town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
- Householder 65 years and over: In Candor town, among the over 65 years age group, a noteworthy 26% of households either match or surpass the state of New York median income of $79,557. These 227 households, constituting notable portion of the Candor town town senior population, showcase commendable financial stability compared to the New York state median income benchmark.