Median Household Income by Age of Householder in Cedar Rapids, NE (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Cedar Rapids. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Cedar Rapids.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $60,995 |
45 to 64 years | $74,914 |
65 years and over | - |
TABLE OF CONTENTS
Cedar Rapids, NE 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 Cedar Rapids population by age, the median age in Cedar Rapids is 36.4 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 Cedar Rapids, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $60,995.
In terms of income distribution across age cohorts, in Cedar Rapids, where there exist only two delineated age groups, the median household income is $74,914 for householders within the 45 to 64 years age group, compared to $60,995 for the 25 to 44 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 village of Cedar Rapids.
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, 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 $3,663(6.39%), escalating from a median of $57,332 in 2011 to $60,995 in 2021. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $2,588(3.58%), increasing from a median of $72,326 in 2011 to $74,914 in 2021.
Cedar Rapids, NE household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Cedar Rapids 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 2(1.07%) households where the householder is under 25 years old, 78(41.71%) households with a householder aged between 25 and 44 years, 46(24.60%) households with a householder aged between 45 and 64 years, and 61(32.62%) 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 25 to 44 years bracket. This distribution hints at economic disparities within the village of Cedar Rapids, showcasing varying income levels among different age demographics.
Age-wise distribution of Cedar Rapids household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Cedar Rapids: 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 | - | - | - | 1 |
$10,000 - $14,999 | - | 1 | - | 1 |
$15,000 - $19,999 | - | - | - | 9 |
$20,000 - $24,999 | - | 5 | - | 23 |
$25,000 - $29,999 | - | - | - | - |
$30,000 - $34,999 | - | 13 | 6 | - |
$35,000 - $39,999 | - | 6 | - | 14 |
$40,000 - $44,999 | - | - | - | - |
$45,000 - $49,999 | - | 8 | 2 | - |
$50,000 - $59,999 | - | 10 | 1 | 1 |
$60,000 - $74,999 | 2 | 8 | 19 | 2 |
$75,000 - $99,999 | - | 4 | 4 | 3 |
$100,000 - $124,999 | - | 7 | 10 | 6 |
$125,000 - $149,999 | - | 6 | - | - |
$150,000 - $199,999 | - | 8 | - | 1 |
$200,000 or more | - | 2 | 4 | - |
To further explore the income distribution and gain insights into financial landscape of Cedar Rapids when compared to the state of Nebraska 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 100% of the households in Cedar Rapids, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,597 for the state of Nebraska. These 2 Cedar Rapids households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Cedar Rapids, among households headed by individuals aged 25 to 44,worth noting that 44.87% match or surpass the state of Nebraska median income of $69,597. These 35 households, represent a notable portion of the total 78 households in Cedar Rapids within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Cedar Rapids, within the age group of 45 to 64 years, a remarkable 80.43% of households meet or exceed the state of Nebraska median income of $69,597. These 37 households, out of the total 46 households in this age cohort, signify a substantial portion of mature demographic of Cedar Rapids, showcasing commendable financial stability in comparison to the Nebraska state median income benchmark.
- Householder 65 years and over: In Cedar Rapids, among the over 65 years age group, only 19.67% of households either match or surpass the state of Nebraska median income of $69,597. These 12 households, constituting low portion of the Cedar Rapids village senior population, showcase commendable financial stability compared to the Nebraska state median income benchmark.
Things to know
Which age group reports the highest median household income in Cedar Rapids, NE?
In Cedar Rapids, households led by individuals aged 45 to 64 years report the highest median household income of $74,914 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 Cedar Rapids, NE?
In terms of income distribution across age cohorts, in Cedar Rapids, where there exist only two delineated age groups, the median household income is $74,914 for householders within the 45 to 64 years age group, compared to $60,995 for the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Cedar Rapids, NE?
The median age in Cedar Rapids is 36.4, 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 Cedar Rapids, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $60,995.
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)