Median Household Income by Age of Householder in Lynxville, WI (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Lynxville. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Lynxville.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $84,446 |
45 to 64 years | - |
65 years and over | $57,423 |
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Lynxville, WI 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 Lynxville population by age, the median age in Lynxville is 51.3 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 Lynxville. 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 Lynxville, where there exist only two delineated age groups, the median household income is $84,446 for householders within the 25 to 44 years age group, compared to $57,423 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 village of Lynxville.
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, 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 $33,777(66.66%), escalating from a median of $50,669 in 2011 to $84,446 in 2021. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $20,647(56.14%), increasing from a median of $36,776 in 2011 to $57,423 in 2021.
Lynxville, WI household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Lynxville 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 5(9.80%) households where the householder is under 25 years old, 7(13.73%) households with a householder aged between 25 and 44 years, 24(47.06%) households with a householder aged between 45 and 64 years, and 15(29.41%) 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 village of Lynxville, showcasing varying income levels among different age demographics.
Age-wise distribution of Lynxville household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Lynxville: 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 | - | 1 | - | - |
$10,000 - $14,999 | - | - | 6 | 1 |
$15,000 - $19,999 | - | - | - | 1 |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | - | 4 | - |
$30,000 - $34,999 | - | 1 | 2 | - |
$35,000 - $39,999 | 3 | - | - | 4 |
$40,000 - $44,999 | - | - | - | 1 |
$45,000 - $49,999 | - | - | - | - |
$50,000 - $59,999 | - | - | 1 | 2 |
$60,000 - $74,999 | 2 | 1 | - | 2 |
$75,000 - $99,999 | - | 2 | 2 | 2 |
$100,000 - $124,999 | - | - | 5 | - |
$125,000 - $149,999 | - | 2 | 4 | - |
$150,000 - $199,999 | - | - | - | - |
$200,000 or more | - | - | - | 2 |
To further explore the income distribution and gain insights into financial landscape of Lynxville when compared to the state of Wisconsin 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 40% of the households in Lynxville, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $70,996 for the state of Wisconsin. These 2 Lynxville households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Lynxville, among households headed by individuals aged 25 to 44, an impressive 71.43% match or surpass the state of Wisconsin median income of $70,996. These 5 households, represent a significant portion of the total 7 households in Lynxville within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Lynxville, within the age group of 45 to 64 years, a noteworthy 45.83% of households meet or exceed the state of Wisconsin median income of $70,996. These 11 households, out of the total 24 households in this age cohort, signify a notable portion of mature demographic of Lynxville, showcasing commendable financial stability in comparison to the Wisconsin state median income benchmark.
- Householder 65 years and over: In Lynxville, among the over 65 years age group, a noteworthy 40% of households either match or surpass the state of Wisconsin median income of $70,996. These 6 households, constituting notable portion of the Lynxville village senior population, showcase commendable financial stability compared to the Wisconsin state median income benchmark.
Things to know
Which age group reports the highest median household income in Lynxville, WI?
In Lynxville, households led by individuals aged 25 to 44 years report the highest median household income of $84,446 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 Lynxville, WI?
In terms of income distribution across age cohorts, in Lynxville, where there exist only two delineated age groups, the median household income is $84,446 for householders within the 25 to 44 years age group, compared to $57,423 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Lynxville, WI?
The median age in Lynxville is 51.3, 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 Lynxville. 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)