Median Household Income by Age of Householder in Harmon County, OK (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Harmon County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Harmon County.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $73,492 |
45 to 64 years | $60,298 |
65 years and over | $38,990 |
TABLE OF CONTENTS
Harmon County, OK 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 Harmon County population by age, the median age in Harmon County is 40.8 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 Harmon County, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $73,492.
In terms of income distribution across age cohorts, in Harmon County, the median household income stands at $73,492 for householders within the 25 to 44 years age group, followed by $60,298 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $38,990.
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 county of Harmon County.
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 25 to 44 years age group demonstrated a remarkable increase of $35,156(91.70%), escalating from a median of $38,336 in 2011 to $73,492 in 2021. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $6,109(11.27%), increasing from a median of $54,189 in 2011 to $60,298 in 2021.
Harmon County, OK household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Harmon County 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 14(1.46%) households where the householder is under 25 years old, 251(26.26%) households with a householder aged between 25 and 44 years, 447(46.76%) households with a householder aged between 45 and 64 years, and 244(25.52%) 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 county of Harmon County, showcasing varying income levels among different age demographics.
Age-wise distribution of Harmon County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Harmon County: 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 | 61 | 23 |
$10,000 - $14,999 | - | 5 | 12 | 32 |
$15,000 - $19,999 | - | 8 | 12 | 25 |
$20,000 - $24,999 | - | 9 | 26 | 6 |
$25,000 - $29,999 | 6 | 12 | 22 | 15 |
$30,000 - $34,999 | - | 18 | 15 | 9 |
$35,000 - $39,999 | 2 | - | 14 | 34 |
$40,000 - $44,999 | - | 11 | 24 | 13 |
$45,000 - $49,999 | - | 7 | 9 | - |
$50,000 - $59,999 | - | 19 | 82 | 10 |
$60,000 - $74,999 | - | 57 | 27 | 26 |
$75,000 - $99,999 | - | 38 | 26 | 9 |
$100,000 - $124,999 | - | 13 | 43 | 35 |
$125,000 - $149,999 | 6 | 39 | 17 | - |
$150,000 - $199,999 | - | 5 | 1 | 7 |
$200,000 or more | - | 8 | 56 | - |
To further explore the income distribution and gain insights into financial landscape of Harmon County when compared to the state of Oklahoma 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 42.86% of the households in Harmon County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $59,673 for the state of Oklahoma. These 6 Harmon County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Harmon County, among households headed by individuals aged 25 to 44, an impressive 71.31% match or surpass the state of Oklahoma median income of $59,673. These 179 households, represent a significant portion of the total 251 households in Harmon County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Harmon County, within the age group of 45 to 64 years, a remarkable 56.38% of households meet or exceed the state of Oklahoma median income of $59,673. These 252 households, out of the total 447 households in this age cohort, signify a substantial portion of mature demographic of Harmon County, showcasing commendable financial stability in comparison to the Oklahoma state median income benchmark.
- Householder 65 years and over: In Harmon County, among the over 65 years age group, a noteworthy 35.66% of households either match or surpass the state of Oklahoma median income of $59,673. These 87 households, constituting notable portion of the Harmon County county senior population, showcase commendable financial stability compared to the Oklahoma state median income benchmark.
Things to know
Which age group reports the highest median household income in Harmon County, OK?
In Harmon County, households led by individuals aged 25 to 44 years report the highest median household income of $73,492 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 Harmon County, OK?
In terms of income distribution across age cohorts, in Harmon County, the median household income stands at $73,492 for householders within the 25 to 44 years age group, followed by $60,298 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $38,990..
How does the median household income for households led by individuals of median age compare in Harmon County, OK?
The median age in Harmon County is 40.8, 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 Harmon County, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $73,492.
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)