Median Household Income by Age of Householder in Lowell, OR (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Lowell. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Lowell.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $70,598 |
45 to 64 years | - |
65 years and over | $46,989 |
TABLE OF CONTENTS
Lowell, OR 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 Lowell population by age, the median age in Lowell is 47.2 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 Lowell. 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 Lowell, where there exist only two delineated age groups, the median household income is $70,598 for householders within the 25 to 44 years age group, compared to $46,989 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 city of Lowell.
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 $7,088(11.16%), escalating from a median of $63,510 in 2011 to $70,598 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 $6,403(11.99%), declining from a median of $53,392 in 2011 to $46,989 in 2021.
Lowell, OR household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Lowell 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 9(2.16%) households where the householder is under 25 years old, 97(23.26%) households with a householder aged between 25 and 44 years, 168(40.29%) households with a householder aged between 45 and 64 years, and 143(34.29%) 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 city of Lowell, showcasing varying income levels among different age demographics.
Age-wise distribution of Lowell household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Lowell: 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 | - | 11 | - | 3 |
$10,000 - $14,999 | - | 8 | - | 3 |
$15,000 - $19,999 | - | - | - | 9 |
$20,000 - $24,999 | 9 | - | 11 | 20 |
$25,000 - $29,999 | - | - | 11 | 9 |
$30,000 - $34,999 | - | 7 | 11 | 6 |
$35,000 - $39,999 | - | - | 25 | 9 |
$40,000 - $44,999 | - | - | - | 18 |
$45,000 - $49,999 | - | 2 | 17 | 2 |
$50,000 - $59,999 | - | 20 | - | 9 |
$60,000 - $74,999 | - | 5 | 3 | 6 |
$75,000 - $99,999 | - | 19 | 9 | 20 |
$100,000 - $124,999 | - | 3 | 31 | 10 |
$125,000 - $149,999 | - | 15 | 16 | - |
$150,000 - $199,999 | - | 3 | 8 | 19 |
$200,000 or more | - | 4 | 26 | - |
To further explore the income distribution and gain insights into financial landscape of Lowell when compared to the state of Oregon 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 no households in Lowell, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $75,657 for the state of Oregon. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Lowell, among households headed by individuals aged 25 to 44,worth noting that 45.36% match or surpass the state of Oregon median income of $75,657. These 44 households, represent a notable portion of the total 97 households in Lowell within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Lowell, within the age group of 45 to 64 years, a remarkable 53.57% of households meet or exceed the state of Oregon median income of $75,657. These 90 households, out of the total 168 households in this age cohort, signify a substantial portion of mature demographic of Lowell, showcasing commendable financial stability in comparison to the Oregon state median income benchmark.
- Householder 65 years and over: In Lowell, among the over 65 years age group, a noteworthy 34.27% of households either match or surpass the state of Oregon median income of $75,657. These 49 households, constituting notable portion of the Lowell city senior population, showcase commendable financial stability compared to the Oregon state median income benchmark.
Things to know
Which age group reports the highest median household income in Lowell, OR?
In Lowell, households led by individuals aged 25 to 44 years report the highest median household income of $70,598 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 Lowell, OR?
In terms of income distribution across age cohorts, in Lowell, where there exist only two delineated age groups, the median household income is $70,598 for householders within the 25 to 44 years age group, compared to $46,989 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Lowell, OR?
The median age in Lowell is 47.2, 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 Lowell. 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)