Median Household Income by Age of Householder in Edna Township, Minnesota (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Edna township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Edna township.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $141,870 |
65 years and over | $74,988 |
TABLE OF CONTENTS
Edna Township, Minnesota 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 Edna township population by age, the median age in Edna township is 46.3 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 Edna township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $141,870.
In terms of income distribution across age cohorts, in Edna township, where there exist only two delineated age groups, the median household income is $141,870 for householders within the 45 to 64 years age group, compared to $74,988 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 township of Edna township.
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 45 to 64 years age group demonstrated a remarkable increase of $64,437(83.22%), escalating from a median of $77,433 in 2011 to $141,870 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 $28,569(61.55%), increasing from a median of $46,419 in 2011 to $74,988 in 2021.
Edna Township, Minnesota household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Edna township 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 6(1.86%) households where the householder is under 25 years old, 66(20.43%) households with a householder aged between 25 and 44 years, 138(42.72%) households with a householder aged between 45 and 64 years, and 113(34.98%) households where the householder is over 65 years old.
In Edna township, 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 Edna township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Edna township: 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 | - | 2 | 1 | 7 |
$10,000 - $14,999 | - | 3 | - | 11 |
$15,000 - $19,999 | - | - | - | 2 |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | - | 6 | 4 |
$30,000 - $34,999 | - | - | - | 6 |
$35,000 - $39,999 | - | - | - | 3 |
$40,000 - $44,999 | - | - | 11 | 4 |
$45,000 - $49,999 | - | 10 | 7 | - |
$50,000 - $59,999 | - | - | 5 | 9 |
$60,000 - $74,999 | 3 | 10 | 5 | 17 |
$75,000 - $99,999 | - | 7 | 15 | 22 |
$100,000 - $124,999 | 3 | 2 | 19 | 19 |
$125,000 - $149,999 | - | 3 | 2 | 5 |
$150,000 - $199,999 | - | 25 | 20 | 4 |
$200,000 or more | - | 4 | 47 | - |
To further explore the income distribution and gain insights into financial landscape of Edna township when compared to the state of Minnesota 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 50% of the households in Edna township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $82,338 for the state of Minnesota. These 3 Edna township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Edna township, among households headed by individuals aged 25 to 44, an impressive 62.12% match or surpass the state of Minnesota median income of $82,338. These 41 households, represent a significant portion of the total 66 households in Edna township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Edna township, within the age group of 45 to 64 years, a remarkable 74.64% of households meet or exceed the state of Minnesota median income of $82,338. These 103 households, out of the total 138 households in this age cohort, signify a substantial portion of mature demographic of Edna township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
- Householder 65 years and over: In Edna township, among the over 65 years age group, a noteworthy 44.25% of households either match or surpass the state of Minnesota median income of $82,338. These 50 households, constituting notable portion of the Edna township township senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.
Things to know
Which age group reports the highest median household income in Edna Township, Minnesota?
In Edna township, households led by individuals aged 45 to 64 years report the highest median household income of $141,870 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 Edna Township, Minnesota?
In terms of income distribution across age cohorts, in Edna township, where there exist only two delineated age groups, the median household income is $141,870 for householders within the 45 to 64 years age group, compared to $74,988 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Edna Township, Minnesota?
The median age in Edna township is 46.3, 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, within Edna township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $141,870.
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)