Palm Coast, FL 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 Palm Coast population by age, the median age in Palm Coast is 49.7 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 Palm Coast, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,656.
In terms of income distribution across age cohorts, in Palm Coast, householders within the 45 to 64 years age group have the highest median household income at $78,656, followed by those in the 25 to 44 years age group with an income of $74,971. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $54,992. Notably, householders within the under 25 years age group, had the lowest median household income at $38,598.
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 Palm Coast.
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 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $19,366(100.70%), escalating from a median of $19,232 in 2012 to $38,598 in 2022. 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 $7,109(14.85%), increasing from a median of $47,883 in 2012 to $54,992 in 2022.
Palm Coast, FL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Palm Coast 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 662(1.55%) households where the householder is under 25 years old, 8,743(20.50%) households with a householder aged between 25 and 44 years, 15,600(36.57%) households with a householder aged between 45 and 64 years, and 17,651(41.38%) 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 65 years and over bracket. This distribution hints at economic disparities within the city of Palm Coast, showcasing varying income levels among different age demographics.
Age-wise distribution of Palm Coast household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Palm Coast: 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 | - | 163 | 957 | 319 |
| $10,000 - $14,999 | - | 226 | 53 | 672 |
| $15,000 - $19,999 | 165 | 140 | - | 577 |
| $20,000 - $24,999 | - | 347 | 220 | 607 |
| $25,000 - $29,999 | - | 152 | 269 | 1,002 |
| $30,000 - $34,999 | - | 659 | 1,126 | 851 |
| $35,000 - $39,999 | 378 | 256 | 1,265 | 1,124 |
| $40,000 - $44,999 | - | 247 | 502 | 1,634 |
| $45,000 - $49,999 | - | 428 | 400 | 961 |
| $50,000 - $59,999 | - | 971 | 1,069 | 1,833 |
| $60,000 - $74,999 | - | 783 | 1,324 | 1,568 |
| $75,000 - $99,999 | - | 932 | 2,372 | 2,958 |
| $100,000 - $124,999 | 119 | 1,562 | 1,720 | 1,459 |
| $125,000 - $149,999 | - | 685 | 956 | 660 |
| $150,000 - $199,999 | - | 922 | 2,163 | 378 |
| $200,000 or more | - | 270 | 1,204 | 1,048 |
To further explore the income distribution and gain insights into financial landscape of Palm Coast when compared to the state of Florida 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 only 17.98% of the households in Palm Coast, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,303 for the state of Florida. These 119 Palm Coast households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Palm Coast, among households headed by individuals aged 25 to 44, an impressive 58.95% match or surpass the state of Florida median income of $69,303. These 5,154 households, represent a significant portion of the total 8,743 households in Palm Coast within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Palm Coast, within the age group of 45 to 64 years, a remarkable 62.43% of households meet or exceed the state of Florida median income of $69,303. These 9,739 households, out of the total 15,600 households in this age cohort, signify a substantial portion of mature demographic of Palm Coast, showcasing commendable financial stability in comparison to the Florida state median income benchmark.
- Householder 65 years and over: In Palm Coast, among the over 65 years age group, a noteworthy 45.73% of households either match or surpass the state of Florida median income of $69,303. These 8,071 households, constituting notable portion of the Palm Coast city senior population, showcase commendable financial stability compared to the Florida state median income benchmark.