Median Household Income by Age of Householder in Des Lacs, ND (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Des Lacs. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Des Lacs.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $102,687 |
45 to 64 years | - |
65 years and over | $79,987 |
TABLE OF CONTENTS
Des Lacs, ND 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 Des Lacs population by age, the median age in Des Lacs is 38.1 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 Des Lacs, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $102,687.
In terms of income distribution across age cohorts, in Des Lacs, where there exist only two delineated age groups, the median household income is $102,687 for householders within the 25 to 44 years age group, compared to $79,987 for the 65 years and over 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 city of Des Lacs.
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 $11,810(13%), escalating from a median of $90,877 in 2011 to $102,687 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 $3,984(5.24%), increasing from a median of $76,003 in 2011 to $79,987 in 2021.
Des Lacs, ND household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Des Lacs 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 8(7.08%) households where the householder is under 25 years old, 36(31.86%) households with a householder aged between 25 and 44 years, 53(46.90%) households with a householder aged between 45 and 64 years, and 16(14.16%) 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 city of Des Lacs, showcasing varying income levels among different age demographics.
Age-wise distribution of Des Lacs household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Des Lacs: 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 | - | - | - | - |
$15,000 - $19,999 | - | - | - | - |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | 5 | - | - |
$30,000 - $34,999 | - | - | - | - |
$35,000 - $39,999 | - | - | 2 | 1 |
$40,000 - $44,999 | 6 | - | 2 | - |
$45,000 - $49,999 | - | - | - | - |
$50,000 - $59,999 | 2 | 6 | 20 | 2 |
$60,000 - $74,999 | - | 2 | 6 | 7 |
$75,000 - $99,999 | - | 5 | 2 | - |
$100,000 - $124,999 | - | 10 | 3 | 4 |
$125,000 - $149,999 | - | 6 | 8 | 1 |
$150,000 - $199,999 | - | 1 | 5 | 1 |
$200,000 or more | - | 1 | 5 | - |
To further explore the income distribution and gain insights into financial landscape of Des Lacs when compared to the state of North Dakota 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 Des Lacs, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $71,970 for the state of North Dakota. 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 Des Lacs, among households headed by individuals aged 25 to 44, an impressive 69.44% match or surpass the state of North Dakota median income of $71,970. These 25 households, represent a significant portion of the total 36 households in Des Lacs within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Des Lacs, within the age group of 45 to 64 years, a remarkable 54.72% of households meet or exceed the state of North Dakota median income of $71,970. These 29 households, out of the total 53 households in this age cohort, signify a substantial portion of mature demographic of Des Lacs, showcasing commendable financial stability in comparison to the North Dakota state median income benchmark.
- Householder 65 years and over: In Des Lacs, among the over 65 years age group, an impressive 81.25% of households either match or surpass the state of North Dakota median income of $71,970. These 13 households, constituting a significant portion of the Des Lacs city senior population, showcase commendable financial stability compared to the North Dakota state median income benchmark.
Things to know
Which age group reports the highest median household income in Des Lacs, ND?
In Des Lacs, households led by individuals aged 25 to 44 years report the highest median household income of $102,687 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 Des Lacs, ND?
In terms of income distribution across age cohorts, in Des Lacs, where there exist only two delineated age groups, the median household income is $102,687 for householders within the 25 to 44 years age group, compared to $79,987 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Des Lacs, ND?
The median age in Des Lacs is 38.1, 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 Des Lacs, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $102,687.
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)