Median Household Income by Age of Householder in Old Orchard Beach, Maine (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Old Orchard Beach town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Old Orchard Beach town.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | $66,956 |
25 to 44 years | $108,489 |
45 to 64 years | $63,226 |
65 years and over | $45,602 |
TABLE OF CONTENTS
Old Orchard Beach, Maine 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 Old Orchard Beach town population by age, the median age in Old Orchard Beach town is 56.7 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 Old Orchard Beach town, the age group of 45 to 64 years had the second lowest median household income, recorded at $63,226.
In terms of income distribution across age cohorts, in Old Orchard Beach town, householders within the 25 to 44 years age group have the highest median household income at $108,489, followed by those in the under 25 years age group with an income of $66,956. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $63,226. Notably, householders within the 65 years and over age group, had the lowest median household income at $45,602.
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 town of Old Orchard Beach town.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the four age groups with available Census data in both 2011 and 2021, one groups encountered a decline in their median household income, while the remaining three experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $24,621(29.36%), escalating from a median of $83,868 in 2011 to $108,489 in 2021. Conversely, the age group of Under 25 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $50,781(43.13%), declining from a median of $117,737 in 2011 to $66,956 in 2021.
Old Orchard Beach, Maine household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Old Orchard Beach town 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 110(2.14%) households where the householder is under 25 years old, 903(17.57%) households with a householder aged between 25 and 44 years, 2,353(45.78%) households with a householder aged between 45 and 64 years, and 1,774(34.51%) 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 town of Old Orchard Beach town, showcasing varying income levels among different age demographics.
Age-wise distribution of Old Orchard Beach town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Old Orchard Beach town: 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 | - | 88 | 124 | 37 |
$10,000 - $14,999 | 20 | 55 | 45 | 266 |
$15,000 - $19,999 | - | 9 | 354 | 50 |
$20,000 - $24,999 | - | 57 | 199 | 150 |
$25,000 - $29,999 | - | 28 | 22 | 204 |
$30,000 - $34,999 | - | 48 | 95 | 79 |
$35,000 - $39,999 | - | - | 55 | 80 |
$40,000 - $44,999 | - | 43 | 90 | 68 |
$45,000 - $49,999 | - | 8 | 41 | 42 |
$50,000 - $59,999 | 21 | 9 | 172 | 131 |
$60,000 - $74,999 | 18 | 52 | 185 | 91 |
$75,000 - $99,999 | 26 | 52 | 393 | 218 |
$100,000 - $124,999 | 25 | 175 | 215 | 109 |
$125,000 - $149,999 | - | 238 | 57 | 58 |
$150,000 - $199,999 | - | 28 | 153 | 88 |
$200,000 or more | - | 13 | 153 | 103 |
To further explore the income distribution and gain insights into financial landscape of Old Orchard Beach town when compared to the state of Maine 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 impressive that 62.73% of the households in Old Orchard Beach town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,543 for the state of Maine. These 69 Old Orchard Beach town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Old Orchard Beach town, among households headed by individuals aged 25 to 44, an impressive 61.79% match or surpass the state of Maine median income of $69,543. These 558 households, represent a significant portion of the total 903 households in Old Orchard Beach town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Old Orchard Beach town, within the age group of 45 to 64 years, a noteworthy 49.13% of households meet or exceed the state of Maine median income of $69,543. These 1,156 households, out of the total 2,353 households in this age cohort, signify a notable portion of mature demographic of Old Orchard Beach town, showcasing commendable financial stability in comparison to the Maine state median income benchmark.
- Householder 65 years and over: In Old Orchard Beach town, among the over 65 years age group, a noteworthy 37.60% of households either match or surpass the state of Maine median income of $69,543. These 667 households, constituting notable portion of the Old Orchard Beach town town senior population, showcase commendable financial stability compared to the Maine state median income benchmark.
Things to know
Which age group reports the highest median household income in Old Orchard Beach, Maine?
In Old Orchard Beach town, households led by individuals aged 25 to 44 years report the highest median household income of $108,489 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 Old Orchard Beach, Maine?
In terms of income distribution across age cohorts, in Old Orchard Beach town, householders within the 25 to 44 years age group have the highest median household income at $108,489, followed by those in the under 25 years age group with an income of $66,956. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $63,226. Notably, householders within the 65 years and over age group, had the lowest median household income at $45,602..
How does the median household income for households led by individuals of median age compare in Old Orchard Beach, Maine?
The median age in Old Orchard Beach town is 56.7, 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 Old Orchard Beach town, the age group of 45 to 64 years had the second lowest median household income, recorded at $63,226.
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)