Median Household Income by Age of Householder in Garden City, CO (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Garden City. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Garden City.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $58,037 |
45 to 64 years | - |
65 years and over | $14,863 |
TABLE OF CONTENTS
Garden City, CO 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 Garden City population by age, the median age in Garden City is 45.3 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Garden City. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Garden City, where there exist only two delineated age groups, the median household income is $58,037 for householders within the 25 to 44 years age group, compared to $14,863 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 town of Garden City.
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, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $26,982(86.88%), escalating from a median of $31,055 in 2011 to $58,037 in 2021. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $1,155(7.21%), declining from a median of $16,018 in 2011 to $14,863 in 2021.
Garden City, CO household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Garden City 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 0 households where the householder is under 25 years old, 47(45.63%) households with a householder aged between 25 and 44 years, 40(38.83%) households with a householder aged between 45 and 64 years, and 16(15.53%) households where the householder is over 65 years old.
In Garden City, the age group of 25 to 44 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 Garden City household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Garden City: 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 | - | 3 | 9 | 2 |
$10,000 - $14,999 | - | - | 8 | 7 |
$15,000 - $19,999 | - | - | 2 | 4 |
$20,000 - $24,999 | - | - | 2 | - |
$25,000 - $29,999 | - | - | 4 | - |
$30,000 - $34,999 | - | - | 1 | 1 |
$35,000 - $39,999 | - | 7 | - | - |
$40,000 - $44,999 | - | 2 | 2 | - |
$45,000 - $49,999 | - | - | 1 | - |
$50,000 - $59,999 | - | 25 | 6 | - |
$60,000 - $74,999 | - | 8 | 3 | 1 |
$75,000 - $99,999 | - | - | 2 | - |
$100,000 - $124,999 | - | 2 | - | - |
$125,000 - $149,999 | - | - | - | 1 |
$150,000 - $199,999 | - | - | - | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Garden City when compared to the state of Colorado 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: In Garden City, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
- Householder 25 to 44 years: In Garden City, among households headed by individuals aged 25 to 44,noteworthy that only 4.26% match or surpass the state of Colorado median income of $89,302. These 2 households, represent a low portion of the total 47 households in Garden City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Garden City, within the age group of 45 to 64 years, only 5% of households meet or exceed the state of Colorado median income of $89,302. These 2 households, out of the total 40 households in this age cohort, signify a low portion of mature demographic of Garden City, showcasing commendable financial stability in comparison to the Colorado state median income benchmark.
- Householder 65 years and over: In Garden City, among the over 65 years age group, only 6.25% of households either match or surpass the state of Colorado median income of $89,302. These 1 households, constituting low portion of the Garden City town senior population, showcase commendable financial stability compared to the Colorado state median income benchmark.
Things to know
Which age group reports the highest median household income in Garden City, CO?
In Garden City, households led by individuals aged 25 to 44 years report the highest median household income of $58,037 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 Garden City, CO?
In terms of income distribution across age cohorts, in Garden City, where there exist only two delineated age groups, the median household income is $58,037 for householders within the 25 to 44 years age group, compared to $14,863 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Garden City, CO?
The median age in Garden City is 45.3, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Garden City. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
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)