Median Household Income by Age of Householder in New Ringgold, PA (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in New Ringgold. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in New Ringgold.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $64,179 |
45 to 64 years | $72,962 |
65 years and over | $42,448 |
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New Ringgold, PA 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 New Ringgold population by age, the median age in New Ringgold is 41.7 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 New Ringgold, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $64,179.
In terms of income distribution across age cohorts, in New Ringgold, the median household income stands at $72,962 for householders within the 45 to 64 years age group, followed by $64,179 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 $42,448.
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 borough of New Ringgold.
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 25 to 44 years age group demonstrated a remarkable increase of $10,649(19.89%), escalating from a median of $53,530 in 2011 to $64,179 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 $360(0.86%), increasing from a median of $42,088 in 2011 to $42,448 in 2021.
New Ringgold, PA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the New Ringgold 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 2(1.80%) households where the householder is under 25 years old, 38(34.23%) households with a householder aged between 25 and 44 years, 36(32.43%) households with a householder aged between 45 and 64 years, and 35(31.53%) households where the householder is over 65 years old.
The age group of 45 to 64 years exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the borough of New Ringgold, showcasing varying income levels among different age demographics.
Age-wise distribution of New Ringgold household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in New Ringgold: 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 | - | 2 | 2 | 1 |
$10,000 - $14,999 | - | 2 | - | - |
$15,000 - $19,999 | - | 3 | - | 3 |
$20,000 - $24,999 | - | 3 | 2 | 5 |
$25,000 - $29,999 | - | 1 | - | - |
$30,000 - $34,999 | - | 3 | - | - |
$35,000 - $39,999 | - | - | 2 | 12 |
$40,000 - $44,999 | - | - | 2 | 1 |
$45,000 - $49,999 | - | - | 2 | 3 |
$50,000 - $59,999 | 2 | 6 | 6 | 2 |
$60,000 - $74,999 | - | 2 | 6 | 2 |
$75,000 - $99,999 | - | 9 | 4 | 6 |
$100,000 - $124,999 | - | 4 | 4 | - |
$125,000 - $149,999 | - | 3 | 5 | - |
$150,000 - $199,999 | - | - | 1 | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of New Ringgold when compared to the state of Pennsylvania 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 New Ringgold, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $71,798 for the state of Pennsylvania. 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 New Ringgold, among households headed by individuals aged 25 to 44,worth noting that 47.37% match or surpass the state of Pennsylvania median income of $71,798. These 18 households, represent a notable portion of the total 38 households in New Ringgold within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In New Ringgold, within the age group of 45 to 64 years, a remarkable 55.56% of households meet or exceed the state of Pennsylvania median income of $71,798. These 20 households, out of the total 36 households in this age cohort, signify a substantial portion of mature demographic of New Ringgold, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In New Ringgold, among the over 65 years age group, only 22.86% of households either match or surpass the state of Pennsylvania median income of $71,798. These 8 households, constituting low portion of the New Ringgold borough senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in New Ringgold, PA?
In New Ringgold, households led by individuals aged 45 to 64 years report the highest median household income of $72,962 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 New Ringgold, PA?
In terms of income distribution across age cohorts, in New Ringgold, the median household income stands at $72,962 for householders within the 45 to 64 years age group, followed by $64,179 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 $42,448..
How does the median household income for households led by individuals of median age compare in New Ringgold, PA?
The median age in New Ringgold is 41.7, 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 New Ringgold, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $64,179.
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)