Median Household Income by Age of Householder in Orlando, OK (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Orlando. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Orlando.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $44,137 |
65 years and over | $44,588 |
TABLE OF CONTENTS
Orlando, OK 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 Orlando population by age, the median age in Orlando is 24.8 years.
Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Orlando. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Orlando, where there exist only two delineated age groups, the median household income is $44,588 for householders within the 65 years and over age group, compared to $44,137 for the 45 to 64 years age group.
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 Orlando.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the two age groups with available Census data in both 2011 and 2021, one 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 $17,347(63.68%), escalating from a median of $27,241 in 2011 to $44,588 in 2021. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $57,745(56.68%), declining from a median of $101,882 in 2011 to $44,137 in 2021.
Orlando, OK household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Orlando 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 5(21.74%) households where the householder is under 25 years old, 3(13.04%) households with a householder aged between 25 and 44 years, 8(34.78%) households with a householder aged between 45 and 64 years, and 7(30.43%) households where the householder is over 65 years old.
The age group of 65 years and over 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 Orlando, showcasing varying income levels among different age demographics.
Age-wise distribution of Orlando household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Orlando: 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 | - | - | - | - |
$10,000 - $14,999 | - | - | - | - |
$15,000 - $19,999 | - | - | 1 | - |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | 2 | 2 | 2 |
$30,000 - $34,999 | - | 1 | - | - |
$35,000 - $39,999 | 4 | - | - | - |
$40,000 - $44,999 | - | - | 3 | 3 |
$45,000 - $49,999 | 1 | - | - | 1 |
$50,000 - $59,999 | - | - | - | - |
$60,000 - $74,999 | - | - | 2 | - |
$75,000 - $99,999 | - | - | - | 1 |
$100,000 - $124,999 | - | - | - | - |
$125,000 - $149,999 | - | - | - | - |
$150,000 - $199,999 | - | - | - | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Orlando when compared to the state of Oklahoma 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 Orlando, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $59,673 for the state of Oklahoma. 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 Orlando, there are no households led by individuals aged 25 to 44, that meet or surpass the state of Oklahoma median income of $59,673. Thus of the total 3 households in Orlando, where the householder is 25-44 years old, none had an income higher than the median state income.
- Householder 45 to 64 years: In Orlando, within the age group of 45 to 64 years, a noteworthy 25% of households meet or exceed the state of Oklahoma median income of $59,673. These 2 households, out of the total 8 households in this age cohort, signify a notable portion of mature demographic of Orlando, showcasing commendable financial stability in comparison to the Oklahoma state median income benchmark.
- Householder 65 years and over: In Orlando, among the over 65 years age group, only 14.29% of households either match or surpass the state of Oklahoma median income of $59,673. These 1 households, constituting low portion of the Orlando town senior population, showcase commendable financial stability compared to the Oklahoma state median income benchmark.
Things to know
Which age group reports the highest median household income in Orlando, OK?
In Orlando, households led by individuals aged 65 years and over report the highest median household income of $44,588 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 Orlando, OK?
In terms of income distribution across age cohorts, in Orlando, where there exist only two delineated age groups, the median household income is $44,588 for householders within the 65 years and over age group, compared to $44,137 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Orlando, OK?
The median age in Orlando is 24.8, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Orlando. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
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)