Forest township, Genesee County, Michigan Median Household Income By Age

Per the latest American Community Survey by the Census Bureau, Forest township sees its highest median household income among householders in the age group of 25 to 44 years old, at $92,553. Overall, the median household income for the township of Forest township stands at $69,283.
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Updated Jan 10, 2024

Median Household Income by Age of Householder in Forest township, Genesee County, Michigan (2021, in 2022 inflation-adjusted dollars)

This table presents the distribution of median household income among distinct age brackets of householders in Forest township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Forest township.

Age Of The Head Of Household Median Household Income
Under 25 years $31,002
25 to 44 years $92,553
45 to 64 years $77,015
65 years and over $60,238
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Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time Custom Dataset: Forest township Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

Forest township, Genesee County, Michigan 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 Forest township population by age, the median age in Forest township is 48.1 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 Forest township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $77,015.

In terms of income distribution across age cohorts, in Forest township, householders within the 25 to 44 years age group have the highest median household income at $92,553, followed by those in the 45 to 64 years age group with an income of $77,015. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $60,238. Notably, householders within the under 25 years age group, had the lowest median household income at $31,002.

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 Forest township.

The bar chart shows Forest township, Genesee County, Michigan median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
Forest township, Genesee County, Michigan median household income by age of householder: It offers a clear illustration of the differences in median household incomes in Forest township, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. In terms of income distribution across age cohorts, in Forest township, householders within the 25 to 44 years age group have the highest median household income at $92,553, followed by those in the 45 to 64 years age group with an income of $77,015. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $60,238. Notably, householders within the under 25 years age group, had the lowest median household income at $31,002. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

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, two 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 25 to 44 years age group demonstrated a remarkable increase of $14,682(18.85%), escalating from a median of $77,871 in 2011 to $92,553 in 2021. Conversely, the age group of Under 25 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $13,946(31.03%), declining from a median of $44,948 in 2011 to $31,002 in 2021.

Forest township, Genesee County, Michigan household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Forest 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 37(2.11%) households where the householder is under 25 years old, 372(21.21%) households with a householder aged between 25 and 44 years, 748(42.65%) households with a householder aged between 45 and 64 years, and 597(34.04%) 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 township of Forest township, showcasing varying income levels among different age demographics.

The bar chart displays the distribution of household income in Forest township, Genesee County, Michigan across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.
Forest township, Genesee County, Michigan household income distribution across age groups: 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 township of Forest township, showcasing varying income levels among different age demographics. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Age-wise distribution of Forest township household incomes: Comparative analysis across 16 income brackets

Discover the household distribution across 16 income brackets among four distinct age groups in Forest 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 - - 20 12
$10,000 - $14,999 7 11 38 18
$15,000 - $19,999 - 6 19 31
$20,000 - $24,999 - 8 7 27
$25,000 - $29,999 21 7 17 24
$30,000 - $34,999 - 25 18 34
$35,000 - $39,999 3 6 65 37
$40,000 - $44,999 - 17 8 22
$45,000 - $49,999 - 3 30 56
$50,000 - $59,999 4 23 84 57
$60,000 - $74,999 - 67 89 102
$75,000 - $99,999 2 30 112 54
$100,000 - $124,999 - 108 119 103
$125,000 - $149,999 - 26 38 16
$150,000 - $199,999 - 24 69 4
$200,000 or more - 11 15 -
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To further explore the income distribution and gain insights into financial landscape of Forest township when compared to the state of Michigan 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 only 5.41% of the households in Forest township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $66,986 for the state of Michigan. These 2 Forest township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
  • Householder 25 to 44 years: In Forest township, among households headed by individuals aged 25 to 44, an impressive 71.51% match or surpass the state of Michigan median income of $66,986. These 266 households, represent a significant portion of the total 372 households in Forest township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
  • Householder 45 to 64 years: In Forest township, within the age group of 45 to 64 years, a remarkable 59.09% of households meet or exceed the state of Michigan median income of $66,986. These 442 households, out of the total 748 households in this age cohort, signify a substantial portion of mature demographic of Forest township, showcasing commendable financial stability in comparison to the Michigan state median income benchmark.
  • Householder 65 years and over: In Forest township, among the over 65 years age group, a noteworthy 46.73% of households either match or surpass the state of Michigan median income of $66,986. These 279 households, constituting notable portion of the Forest township township senior population, showcase commendable financial stability compared to the Michigan state median income benchmark.

Things to know

Which age group reports the highest median household income in Forest township, Genesee County, Michigan?

In Forest township, households led by individuals aged 25 to 44 years report the highest median household income of $92,553 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 Forest township, Genesee County, Michigan?

In terms of income distribution across age cohorts, in Forest township, householders within the 25 to 44 years age group have the highest median household income at $92,553, followed by those in the 45 to 64 years age group with an income of $77,015. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $60,238. Notably, householders within the under 25 years age group, had the lowest median household income at $31,002..

How does the median household income for households led by individuals of median age compare in Forest township, Genesee County, Michigan?

The median age in Forest township is 48.1, 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 Forest township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $77,015.

References

Datasets

Explore datasets by year of publication.
2023
Forest township, Genesee County, Michigan annual median income by age groups dataset (in 2022 inflation-adjusted dollars)
Last updated January 10, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Forest township. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Forest township. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2021

In terms of income distribution across age cohorts, in Forest township, householders within the 25 to 44 years age group have the highest median household income at $92,553, followed by those in the 45 to 64 years age group with an income of $77,015. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $60,238. Notably, householders within the under 25 years age group, had the lowest median household income at $31,002.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Age groups classifications include:

  • Under 25 years
  • 25 to 44 years
  • 45 to 64 years
  • 65 years and over

Variables / Data Columns

  • Age Of The Head Of Household: This column presents the age of the head of household
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Forest township median household income by age. You can refer the same here

Age-wise distribution of Forest township, Genesee County, Michigan household incomes: Comparative analysis across 16 income brackets
Last updated January 10, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents the the household distribution across 16 income brackets among four distinct age groups in Forest township: Under 25 years, 25-44 years, 45-64 years, and over 65 years. The dataset highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories, aiding in data analysis and decision-making..

Key observations

  • Upon closer examination of the distribution of households among age brackets, it reveals that there are 37(2.11%) households where the householder is under 25 years old, 372(21.21%) households with a householder aged between 25 and 44 years, 748(42.65%) households with a householder aged between 45 and 64 years, and 597(34.04%) 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 township of Forest township, showcasing varying income levels among different age demographics.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Income brackets:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $100,000 to $124,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Household Income: This column showcases 16 income brackets ranging from Under $10,000 to $200,000+ ( As mentioned above).
  • Under 25 years: The count of households led by a head of household under 25 years old with income within a specified income bracket.
  • 25 to 44 years: The count of households led by a head of household 25 to 44 years old with income within a specified income bracket.
  • 45 to 64 years: The count of households led by a head of household 45 to 64 years old with income within a specified income bracket.
  • 65 years and over: The count of households led by a head of household 65 years and over old with income within a specified income bracket.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Forest township median household income by age. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore more

Median household income of places that contain Forest township (in 2022 dollars)
Insights for Forest township, by topic

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Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.

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