Median Household Income by Age of Householder in Elizabethtown, New York (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Elizabethtown town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Elizabethtown town.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $47,888 |
45 to 64 years | $77,507 |
65 years and over | $72,151 |
TABLE OF CONTENTS
Elizabethtown, New York 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 Elizabethtown town population by age, the median age in Elizabethtown town is 53.4 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, within Elizabethtown town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $77,507.
In terms of income distribution across age cohorts, in Elizabethtown town, the median household income stands at $77,507 for householders within the 45 to 64 years age group, followed by $72,151 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $47,888.
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 town of Elizabethtown town.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the three age groups with available Census data in both 2011 and 2021, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $33,904(88.64%), escalating from a median of $38,247 in 2011 to $72,151 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 $35,606(42.64%), declining from a median of $83,494 in 2011 to $47,888 in 2021.
Elizabethtown, New York household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Elizabethtown town 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 4(0.94%) households where the householder is under 25 years old, 122(28.64%) households with a householder aged between 25 and 44 years, 183(42.96%) households with a householder aged between 45 and 64 years, and 117(27.46%) households where the householder is over 65 years old.
In Elizabethtown town, 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 Elizabethtown town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Elizabethtown town: 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 | 8 | - |
$10,000 - $14,999 | - | - | 12 | - |
$15,000 - $19,999 | - | - | 11 | 5 |
$20,000 - $24,999 | - | - | - | 22 |
$25,000 - $29,999 | - | - | - | 16 |
$30,000 - $34,999 | - | - | 2 | 9 |
$35,000 - $39,999 | - | 16 | 6 | 3 |
$40,000 - $44,999 | 4 | 61 | - | - |
$45,000 - $49,999 | - | - | 12 | - |
$50,000 - $59,999 | - | - | 17 | - |
$60,000 - $74,999 | - | 7 | 36 | 27 |
$75,000 - $99,999 | - | 11 | 27 | 3 |
$100,000 - $124,999 | - | 26 | 24 | 15 |
$125,000 - $149,999 | - | - | 8 | 2 |
$150,000 - $199,999 | - | - | - | 3 |
$200,000 or more | - | - | 20 | 12 |
To further explore the income distribution and gain insights into financial landscape of Elizabethtown town when compared to the state of New York 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 Elizabethtown town, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $79,557 for the state of New York. 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 Elizabethtown town, among households headed by individuals aged 25 to 44,worth noting that 30.33% match or surpass the state of New York median income of $79,557. These 37 households, represent a notable portion of the total 122 households in Elizabethtown town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Elizabethtown town, within the age group of 45 to 64 years, a noteworthy 43.17% of households meet or exceed the state of New York median income of $79,557. These 79 households, out of the total 183 households in this age cohort, signify a notable portion of mature demographic of Elizabethtown town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
- Householder 65 years and over: In Elizabethtown town, among the over 65 years age group, a noteworthy 29.91% of households either match or surpass the state of New York median income of $79,557. These 35 households, constituting notable portion of the Elizabethtown town town senior population, showcase commendable financial stability compared to the New York state median income benchmark.
Things to know
Which age group reports the highest median household income in Elizabethtown, New York?
In Elizabethtown town, households led by individuals aged 45 to 64 years report the highest median household income of $77,507 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 Elizabethtown, New York?
In terms of income distribution across age cohorts, in Elizabethtown town, the median household income stands at $77,507 for householders within the 45 to 64 years age group, followed by $72,151 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $47,888..
How does the median household income for households led by individuals of median age compare in Elizabethtown, New York?
The median age in Elizabethtown town is 53.4, 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, within Elizabethtown town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $77,507.
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)