Median Household Income by Age of Householder in Cedar Rock, NC (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Cedar Rock. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Cedar Rock.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $65,912 |
45 to 64 years | - |
65 years and over | $76,339 |
TABLE OF CONTENTS
Cedar Rock, NC 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 Rock population by age, the median age in Cedar Rock is 47.4 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Cedar Rock. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Cedar Rock, where there exist only two delineated age groups, the median household income is $76,339 for householders within the 65 years and over age group, compared to $65,912 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 Rock.
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 an increase in this time period. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $51,967(40.50%), declining from a median of $128,306 in 2011 to $76,339 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 $195,603(74.80%), declining from a median of $261,515 in 2011 to $65,912 in 2021.
Cedar Rock, NC household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Cedar Rock 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 0 households where the householder is under 25 years old, 42(31.58%) households with a householder aged between 25 and 44 years, 40(30.08%) households with a householder aged between 45 and 64 years, and 51(38.35%) households where the householder is over 65 years old.
In Cedar Rock, the age group of 65 years and over 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 Cedar Rock household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Cedar Rock: 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 | - | - | - | - |
$10,000 - $14,999 | - | - | 2 | - |
$15,000 - $19,999 | - | - | - | 4 |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | 1 | 3 | - |
$30,000 - $34,999 | - | - | - | 1 |
$35,000 - $39,999 | - | - | 8 | 1 |
$40,000 - $44,999 | - | 4 | 2 | - |
$45,000 - $49,999 | - | 7 | 2 | 4 |
$50,000 - $59,999 | - | - | - | 12 |
$60,000 - $74,999 | - | 23 | 5 | 5 |
$75,000 - $99,999 | - | 2 | - | 10 |
$100,000 - $124,999 | - | - | 3 | 2 |
$125,000 - $149,999 | - | 4 | 1 | 4 |
$150,000 - $199,999 | - | 1 | 9 | 2 |
$200,000 or more | - | - | 5 | 6 |
To further explore the income distribution and gain insights into financial landscape of Cedar Rock when compared to the state of North Carolina 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: In Cedar Rock, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
- Householder 25 to 44 years: In Cedar Rock, among households headed by individuals aged 25 to 44, an impressive 71.43% match or surpass the state of North Carolina median income of $67,481. These 30 households, represent a significant portion of the total 42 households in Cedar Rock within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Cedar Rock, within the age group of 45 to 64 years, a remarkable 57.50% of households meet or exceed the state of North Carolina median income of $67,481. These 23 households, out of the total 40 households in this age cohort, signify a substantial portion of mature demographic of Cedar Rock, showcasing commendable financial stability in comparison to the North Carolina state median income benchmark.
- Householder 65 years and over: In Cedar Rock, among the over 65 years age group, an impressive 56.86% of households either match or surpass the state of North Carolina median income of $67,481. These 29 households, constituting a significant portion of the Cedar Rock village senior population, showcase commendable financial stability compared to the North Carolina state median income benchmark.
Things to know
Which age group reports the highest median household income in Cedar Rock, NC?
In Cedar Rock, households led by individuals aged 65 years and over report the highest median household income of $76,339 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 Rock, NC?
In terms of income distribution across age cohorts, in Cedar Rock, where there exist only two delineated age groups, the median household income is $76,339 for householders within the 65 years and over age group, compared to $65,912 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 Rock, NC?
The median age in Cedar Rock is 47.4, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Cedar Rock. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
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)