Median Household Income by Age of Householder in Falls Church, VA (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Falls Church. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Falls Church.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $181,305 |
45 to 64 years | $207,060 |
65 years and over | $92,747 |
TABLE OF CONTENTS
Falls Church, VA 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 Falls Church population by age, the median age in Falls Church is 39.3 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 Falls Church, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $181,305.
In terms of income distribution across age cohorts, in Falls Church, the median household income stands at $207,060 for householders within the 45 to 64 years age group, followed by $181,305 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $92,747.
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 Falls Church.
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, 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 $27,132(15.08%), escalating from a median of $179,928 in 2011 to $207,060 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 $18,542(24.99%), increasing from a median of $74,205 in 2011 to $92,747 in 2021.
Falls Church, VA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Falls Church 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 130(2.31%) households where the householder is under 25 years old, 1,870(33.21%) households with a householder aged between 25 and 44 years, 2,323(41.26%) households with a householder aged between 45 and 64 years, and 1,307(23.21%) households where the householder is over 65 years old.
In Falls Church, 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 Falls Church household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Falls Church: 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 | - | - | 55 | 63 |
$10,000 - $14,999 | - | 17 | - | - |
$15,000 - $19,999 | - | - | 7 | 52 |
$20,000 - $24,999 | 13 | 19 | 11 | 57 |
$25,000 - $29,999 | 8 | 24 | - | 11 |
$30,000 - $34,999 | 27 | 10 | 49 | 18 |
$35,000 - $39,999 | - | - | - | 23 |
$40,000 - $44,999 | - | 7 | - | 112 |
$45,000 - $49,999 | 7 | 7 | 22 | 25 |
$50,000 - $59,999 | - | 58 | 97 | 159 |
$60,000 - $74,999 | - | 127 | 88 | 12 |
$75,000 - $99,999 | 10 | 195 | 106 | 258 |
$100,000 - $124,999 | - | 292 | 307 | 126 |
$125,000 - $149,999 | 30 | 71 | 89 | 62 |
$150,000 - $199,999 | 10 | 373 | 381 | 167 |
$200,000 or more | 25 | 670 | 1,111 | 162 |
To further explore the income distribution and gain insights into financial landscape of Falls Church when compared to the state of Virginia 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 impressive that 57.69% of the households in Falls Church, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $85,873 for the state of Virginia. These 75 Falls Church households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Falls Church, among households headed by individuals aged 25 to 44, an impressive 85.61% match or surpass the state of Virginia median income of $85,873. These 1,601 households, represent a significant portion of the total 1,870 households in Falls Church within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Falls Church, within the age group of 45 to 64 years, a remarkable 85.84% of households meet or exceed the state of Virginia median income of $85,873. These 1,994 households, out of the total 2,323 households in this age cohort, signify a substantial portion of mature demographic of Falls Church, showcasing commendable financial stability in comparison to the Virginia state median income benchmark.
- Householder 65 years and over: In Falls Church, among the over 65 years age group, an impressive 59.30% of households either match or surpass the state of Virginia median income of $85,873. These 775 households, constituting a significant portion of the Falls Church city senior population, showcase commendable financial stability compared to the Virginia state median income benchmark.
Things to know
Which age group reports the highest median household income in Falls Church, VA?
In Falls Church, households led by individuals aged 45 to 64 years report the highest median household income of $207,060 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 Falls Church, VA?
In terms of income distribution across age cohorts, in Falls Church, the median household income stands at $207,060 for householders within the 45 to 64 years age group, followed by $181,305 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $92,747..
How does the median household income for households led by individuals of median age compare in Falls Church, VA?
The median age in Falls Church is 39.3, 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 Falls Church, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $181,305.
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)