Mccool Junction, NE 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 Mccool Junction population by age, the median age in Mccool Junction is 25.8 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 Mccool Junction, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $119,781.
In terms of income distribution across age cohorts, in Mccool Junction, the median household income stands at $119,781 for householders within the 25 to 44 years age group, followed by $106,740 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 $37,562.
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 Mccool Junction.
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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $56,071(110.66%), escalating from a median of $50,669 in 2011 to $106,740 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 $69,496(64.91%), declining from a median of $107,058 in 2011 to $37,562 in 2021.
Mccool Junction, NE household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Mccool Junction 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 4(1.65%) households where the householder is under 25 years old, 119(48.97%) households with a householder aged between 25 and 44 years, 79(32.51%) households with a householder aged between 45 and 64 years, and 41(16.87%) households where the householder is over 65 years old.
In Mccool Junction, 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 Mccool Junction household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Mccool Junction: 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 | - | - | 7 | 2 |
| $10,000 - $14,999 | - | - | 1 | - |
| $15,000 - $19,999 | - | - | 1 | 3 |
| $20,000 - $24,999 | - | 1 | - | 7 |
| $25,000 - $29,999 | - | - | - | 2 |
| $30,000 - $34,999 | - | 11 | 1 | 7 |
| $35,000 - $39,999 | - | - | - | 3 |
| $40,000 - $44,999 | 1 | 3 | 2 | - |
| $45,000 - $49,999 | - | 2 | 2 | 7 |
| $50,000 - $59,999 | 3 | 2 | 4 | - |
| $60,000 - $74,999 | - | 8 | 14 | 2 |
| $75,000 - $99,999 | - | 6 | 8 | 2 |
| $100,000 - $124,999 | - | 79 | 26 | 2 |
| $125,000 - $149,999 | - | 2 | 2 | 4 |
| $150,000 - $199,999 | - | 5 | 6 | - |
| $200,000 or more | - | - | 5 | - |
To further explore the income distribution and gain insights into financial landscape of Mccool Junction when compared to the state of Nebraska 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 Mccool Junction, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $69,597 for the state of Nebraska. 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 Mccool Junction, among households headed by individuals aged 25 to 44, an impressive 84.03% match or surpass the state of Nebraska median income of $69,597. These 100 households, represent a significant portion of the total 119 households in Mccool Junction within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Mccool Junction, within the age group of 45 to 64 years, a remarkable 77.22% of households meet or exceed the state of Nebraska median income of $69,597. These 61 households, out of the total 79 households in this age cohort, signify a substantial portion of mature demographic of Mccool Junction, showcasing commendable financial stability in comparison to the Nebraska state median income benchmark.
- Householder 65 years and over: In Mccool Junction, among the over 65 years age group, only 24.39% of households either match or surpass the state of Nebraska median income of $69,597. These 10 households, constituting low portion of the Mccool Junction village senior population, showcase commendable financial stability compared to the Nebraska state median income benchmark.