Median Household Income by Age of Householder in Mineral County, NV (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Mineral County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Mineral County.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $42,899 |
45 to 64 years | $46,553 |
65 years and over | $47,006 |
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Mineral County, NV 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 Mineral County population by age, the median age in Mineral County is 44.8 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, within Mineral County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $46,553.
In terms of income distribution across age cohorts, in Mineral County, the median household income stands at $47,006 for householders within the 65 years and over age group, followed by $46,553 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $42,899.
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 Mineral 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, two 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 $16,474(53.96%), escalating from a median of $30,532 in 2011 to $47,006 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 $24,142(36.01%), declining from a median of $67,041 in 2011 to $42,899 in 2021.
Mineral County, NV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Mineral 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 4(0.23%) households where the householder is under 25 years old, 393(22.63%) households with a householder aged between 25 and 44 years, 610(35.12%) households with a householder aged between 45 and 64 years, and 730(42.03%) households where the householder is over 65 years old.
In Mineral County, 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 Mineral County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Mineral 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 | 4 | 43 | 58 | 18 |
$10,000 - $14,999 | - | 20 | 71 | 71 |
$15,000 - $19,999 | - | 30 | 51 | 98 |
$20,000 - $24,999 | - | 17 | 52 | 32 |
$25,000 - $29,999 | - | 51 | 58 | 64 |
$30,000 - $34,999 | - | 32 | 3 | 5 |
$35,000 - $39,999 | - | 4 | - | 58 |
$40,000 - $44,999 | - | 26 | 29 | 42 |
$45,000 - $49,999 | - | 5 | 3 | 96 |
$50,000 - $59,999 | - | 25 | 67 | 35 |
$60,000 - $74,999 | - | 38 | 26 | 61 |
$75,000 - $99,999 | - | 49 | 100 | 109 |
$100,000 - $124,999 | - | 16 | 43 | - |
$125,000 - $149,999 | - | - | 19 | 20 |
$150,000 - $199,999 | - | 31 | 27 | 3 |
$200,000 or more | - | 6 | 3 | 18 |
To further explore the income distribution and gain insights into financial landscape of Mineral County when compared to the state of Nevada 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 Mineral County, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $72,333 for the state of Nevada. 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 Mineral County, among households headed by individuals aged 25 to 44,worth noting that 35.62% match or surpass the state of Nevada median income of $72,333. These 140 households, represent a notable portion of the total 393 households in Mineral County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Mineral County, within the age group of 45 to 64 years, a noteworthy 35.74% of households meet or exceed the state of Nevada median income of $72,333. These 218 households, out of the total 610 households in this age cohort, signify a notable portion of mature demographic of Mineral County, showcasing commendable financial stability in comparison to the Nevada state median income benchmark.
- Householder 65 years and over: In Mineral County, among the over 65 years age group, a noteworthy 28.90% of households either match or surpass the state of Nevada median income of $72,333. These 211 households, constituting notable portion of the Mineral County county senior population, showcase commendable financial stability compared to the Nevada state median income benchmark.
Things to know
Which age group reports the highest median household income in Mineral County, NV?
In Mineral County, households led by individuals aged 65 years and over report the highest median household income of $47,006 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 Mineral County, NV?
In terms of income distribution across age cohorts, in Mineral County, the median household income stands at $47,006 for householders within the 65 years and over age group, followed by $46,553 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $42,899..
How does the median household income for households led by individuals of median age compare in Mineral County, NV?
The median age in Mineral County is 44.8, 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, within Mineral County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $46,553.
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)