Median Household Income by Age of Householder in Mount Vernon, OR (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Mount Vernon. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Mount Vernon.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $86,273 |
45 to 64 years | $89,695 |
65 years and over | $41,596 |
TABLE OF CONTENTS
Mount Vernon, 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 Mount Vernon population by age, the median age in Mount Vernon is 41 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 Mount Vernon, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $86,273.
In terms of income distribution across age cohorts, in Mount Vernon, the median household income stands at $89,695 for householders within the 45 to 64 years age group, followed by $86,273 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $41,596.
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 Mount Vernon.
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, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $39,092(77.25%), escalating from a median of $50,603 in 2011 to $89,695 in 2021. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $13,130(17.95%), increasing from a median of $73,143 in 2011 to $86,273 in 2021.
Mount Vernon, OR household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Mount Vernon 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(1.40%) households where the householder is under 25 years old, 78(27.37%) households with a householder aged between 25 and 44 years, 109(38.25%) households with a householder aged between 45 and 64 years, and 94(32.98%) households where the householder is over 65 years old.
In Mount Vernon, the age group of 45 to 64 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 Mount Vernon household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Mount Vernon: 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 | - | - | - | 6 |
$10,000 - $14,999 | - | 6 | 16 | 4 |
$15,000 - $19,999 | - | - | - | 15 |
$20,000 - $24,999 | 4 | - | - | - |
$25,000 - $29,999 | - | - | 6 | 11 |
$30,000 - $34,999 | - | - | - | - |
$35,000 - $39,999 | - | 8 | - | 28 |
$40,000 - $44,999 | - | - | - | - |
$45,000 - $49,999 | - | - | - | 3 |
$50,000 - $59,999 | - | - | 27 | 7 |
$60,000 - $74,999 | - | - | 3 | 7 |
$75,000 - $99,999 | - | 34 | 19 | 5 |
$100,000 - $124,999 | - | 4 | - | 6 |
$125,000 - $149,999 | - | 26 | 14 | - |
$150,000 - $199,999 | - | - | 17 | - |
$200,000 or more | - | - | 7 | 2 |
To further explore the income distribution and gain insights into financial landscape of Mount Vernon 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 Mount Vernon, 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 Mount Vernon, among households headed by individuals aged 25 to 44, an impressive 82.05% match or surpass the state of Oregon median income of $75,657. These 64 households, represent a significant portion of the total 78 households in Mount Vernon within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Mount Vernon, within the age group of 45 to 64 years, a remarkable 52.29% of households meet or exceed the state of Oregon median income of $75,657. These 57 households, out of the total 109 households in this age cohort, signify a substantial portion of mature demographic of Mount Vernon, showcasing commendable financial stability in comparison to the Oregon state median income benchmark.
- Householder 65 years and over: In Mount Vernon, among the over 65 years age group, only 13.83% of households either match or surpass the state of Oregon median income of $75,657. These 13 households, constituting low portion of the Mount Vernon 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 Mount Vernon, OR?
In Mount Vernon, households led by individuals aged 45 to 64 years report the highest median household income of $89,695 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 Mount Vernon, OR?
In terms of income distribution across age cohorts, in Mount Vernon, the median household income stands at $89,695 for householders within the 45 to 64 years age group, followed by $86,273 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $41,596..
How does the median household income for households led by individuals of median age compare in Mount Vernon, OR?
The median age in Mount Vernon is 41, which falls within the 25 to 44 years range among the four age groups defined by the US Census Bureau. This demographic suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Mount Vernon, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $86,273.
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)