Median Household Income by Age of Householder in Jane Lew, WV (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Jane Lew. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Jane Lew.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $52,154 |
45 to 64 years | - |
65 years and over | $52,584 |
TABLE OF CONTENTS
Jane Lew, WV 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 Jane Lew population by age, the median age in Jane Lew is 52.7 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 Jane Lew. 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 Jane Lew, where there exist only two delineated age groups, the median household income is $52,584 for householders within the 65 years and over age group, compared to $52,154 for the 25 to 44 years 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 Jane Lew.
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 65 years and over age group demonstrated a remarkable increase of $33,624(177.34%), escalating from a median of $18,960 in 2011 to $52,584 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 $20,253(27.97%), declining from a median of $72,407 in 2011 to $52,154 in 2021.
Jane Lew, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Jane Lew 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, 27(12.22%) households with a householder aged between 25 and 44 years, 91(41.18%) households with a householder aged between 45 and 64 years, and 103(46.61%) households where the householder is over 65 years old.
In Jane Lew, the age group of 65 years and over 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 Jane Lew household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Jane Lew: 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 | - | - | 19 | 1 |
$10,000 - $14,999 | - | 2 | 10 | 3 |
$15,000 - $19,999 | - | - | 4 | 1 |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | - | 2 | 2 |
$30,000 - $34,999 | - | 5 | 1 | 9 |
$35,000 - $39,999 | - | - | - | 11 |
$40,000 - $44,999 | - | 5 | 5 | - |
$45,000 - $49,999 | - | 5 | 3 | 51 |
$50,000 - $59,999 | - | - | 3 | 10 |
$60,000 - $74,999 | - | 3 | 1 | 2 |
$75,000 - $99,999 | - | 2 | 11 | 7 |
$100,000 - $124,999 | - | 3 | 10 | 5 |
$125,000 - $149,999 | - | - | 2 | - |
$150,000 - $199,999 | - | - | - | 1 |
$200,000 or more | - | 2 | 20 | - |
To further explore the income distribution and gain insights into financial landscape of Jane Lew when compared to the state of West 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: In Jane Lew, 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 Jane Lew, among households headed by individuals aged 25 to 44,worth noting that 37.04% match or surpass the state of West Virginia median income of $54,329. These 10 households, represent a notable portion of the total 27 households in Jane Lew within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Jane Lew, within the age group of 45 to 64 years, a remarkable 51.65% of households meet or exceed the state of West Virginia median income of $54,329. These 47 households, out of the total 91 households in this age cohort, signify a substantial portion of mature demographic of Jane Lew, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
- Householder 65 years and over: In Jane Lew, among the over 65 years age group, only 24.27% of households either match or surpass the state of West Virginia median income of $54,329. These 25 households, constituting low portion of the Jane Lew town senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.
Things to know
Which age group reports the highest median household income in Jane Lew, WV?
In Jane Lew, households led by individuals aged 65 years and over report the highest median household income of $52,584 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 Jane Lew, WV?
In terms of income distribution across age cohorts, in Jane Lew, where there exist only two delineated age groups, the median household income is $52,584 for householders within the 65 years and over age group, compared to $52,154 for the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Jane Lew, WV?
The median age in Jane Lew is 52.7, 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 Jane Lew. 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)