Chippewa Falls, WI 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 Chippewa Falls population by age, the median age in Chippewa Falls is 38.4 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 Chippewa Falls, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $63,597.
In terms of income distribution across age cohorts, in Chippewa Falls, householders within the 45 to 64 years age group have the highest median household income at $68,513, followed by those in the 25 to 44 years age group with an income of $63,597. Meanwhile householders within the under 25 years age group report the second lowest median household income of $62,521. Notably, householders within the 65 years and over age group, had the lowest median household income at $41,016.
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 Chippewa Falls.
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, none had a decline during this time period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $17,675(39.41%), escalating from a median of $44,846 in 2011 to $62,521 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 $3,815(5.90%), increasing from a median of $64,698 in 2011 to $68,513 in 2021.
Chippewa Falls, WI household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Chippewa Falls 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 314(4.99%) households where the householder is under 25 years old, 2,047(32.52%) households with a householder aged between 25 and 44 years, 2,005(31.85%) households with a householder aged between 45 and 64 years, and 1,929(30.64%) 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 city of Chippewa Falls, showcasing varying income levels among different age demographics.
Age-wise distribution of Chippewa Falls household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Chippewa Falls: 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 | - | 32 | 142 | 26 |
| $10,000 - $14,999 | - | 199 | 74 | 155 |
| $15,000 - $19,999 | - | 20 | 104 | 181 |
| $20,000 - $24,999 | - | 109 | 79 | 245 |
| $25,000 - $29,999 | 33 | 77 | 157 | 248 |
| $30,000 - $34,999 | 51 | 6 | 72 | 107 |
| $35,000 - $39,999 | - | 108 | 82 | 14 |
| $40,000 - $44,999 | 27 | 155 | 94 | 105 |
| $45,000 - $49,999 | 37 | 118 | 13 | 156 |
| $50,000 - $59,999 | 66 | 281 | 76 | 86 |
| $60,000 - $74,999 | - | 254 | 282 | 196 |
| $75,000 - $99,999 | 100 | 263 | 332 | 237 |
| $100,000 - $124,999 | - | 296 | 256 | 53 |
| $125,000 - $149,999 | - | 35 | 86 | 78 |
| $150,000 - $199,999 | - | 29 | 141 | 15 |
| $200,000 or more | - | 65 | 15 | 27 |
To further explore the income distribution and gain insights into financial landscape of Chippewa Falls when compared to the state of Wisconsin 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 31.85% of the households in Chippewa Falls, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $70,996 for the state of Wisconsin. These 100 Chippewa Falls households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Chippewa Falls, among households headed by individuals aged 25 to 44,worth noting that 46.02% match or surpass the state of Wisconsin median income of $70,996. These 942 households, represent a notable portion of the total 2,047 households in Chippewa Falls within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Chippewa Falls, within the age group of 45 to 64 years, a remarkable 55.46% of households meet or exceed the state of Wisconsin median income of $70,996. These 1,112 households, out of the total 2,005 households in this age cohort, signify a substantial portion of mature demographic of Chippewa Falls, showcasing commendable financial stability in comparison to the Wisconsin state median income benchmark.
- Householder 65 years and over: In Chippewa Falls, among the over 65 years age group, a noteworthy 31.42% of households either match or surpass the state of Wisconsin median income of $70,996. These 606 households, constituting notable portion of the Chippewa Falls city senior population, showcase commendable financial stability compared to the Wisconsin state median income benchmark.