Cape Elizabeth, Maine 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 Cape Elizabeth town population by age, the median age in Cape Elizabeth town is 48.8 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 Cape Elizabeth town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $177,952.
In terms of income distribution across age cohorts, in Cape Elizabeth town, the median household income stands at $177,952 for householders within the 45 to 64 years age group, followed by $168,941 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 $92,758.
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 Cape Elizabeth town.
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, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $54,119(47.13%), escalating from a median of $114,822 in 2011 to $168,941 in 2021. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $37,023(66.43%), increasing from a median of $55,735 in 2011 to $92,758 in 2021.
Cape Elizabeth, Maine household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Cape Elizabeth 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 63(1.62%) households where the householder is under 25 years old, 725(18.62%) households with a householder aged between 25 and 44 years, 1,678(43.10%) households with a householder aged between 45 and 64 years, and 1,427(36.66%) households where the householder is over 65 years old.
In Cape Elizabeth town, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.
Age-wise distribution of Cape Elizabeth town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Cape Elizabeth 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 | - | 30 | 55 | 12 |
| $10,000 - $14,999 | - | 66 | 9 | - |
| $15,000 - $19,999 | - | - | - | 12 |
| $20,000 - $24,999 | - | - | 26 | 23 |
| $25,000 - $29,999 | - | - | 30 | 190 |
| $30,000 - $34,999 | - | 13 | - | 25 |
| $35,000 - $39,999 | 16 | 18 | 16 | 27 |
| $40,000 - $44,999 | - | - | 12 | 163 |
| $45,000 - $49,999 | - | - | 73 | 30 |
| $50,000 - $59,999 | - | 35 | 22 | 57 |
| $60,000 - $74,999 | - | 22 | 17 | 125 |
| $75,000 - $99,999 | 47 | 26 | 197 | 254 |
| $100,000 - $124,999 | - | 31 | 78 | 66 |
| $125,000 - $149,999 | - | 107 | 194 | 252 |
| $150,000 - $199,999 | - | 94 | 221 | 89 |
| $200,000 or more | - | 283 | 728 | 102 |
To further explore the income distribution and gain insights into financial landscape of Cape Elizabeth town when compared to the state of Maine 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 74.60% of the households in Cape Elizabeth town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,543 for the state of Maine. These 47 Cape Elizabeth town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Cape Elizabeth town, among households headed by individuals aged 25 to 44, an impressive 77.66% match or surpass the state of Maine median income of $69,543. These 563 households, represent a significant portion of the total 725 households in Cape Elizabeth town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Cape Elizabeth town, within the age group of 45 to 64 years, a remarkable 85.52% of households meet or exceed the state of Maine median income of $69,543. These 1,435 households, out of the total 1,678 households in this age cohort, signify a substantial portion of mature demographic of Cape Elizabeth town, showcasing commendable financial stability in comparison to the Maine state median income benchmark.
- Householder 65 years and over: In Cape Elizabeth town, among the over 65 years age group, an impressive 62.23% of households either match or surpass the state of Maine median income of $69,543. These 888 households, constituting a significant portion of the Cape Elizabeth town town senior population, showcase commendable financial stability compared to the Maine state median income benchmark.