Median Household Income by Age of Householder in Potsdam, NY (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Potsdam. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Potsdam.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | $16,664 |
25 to 44 years | $56,433 |
45 to 64 years | $75,470 |
65 years and over | $27,230 |
TABLE OF CONTENTS
Potsdam, NY 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 Potsdam population by age, the median age in Potsdam is 21.1 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, within Potsdam, the age group of Under 25 years reported the lowest median household income, at $16,664.
In terms of income distribution across age cohorts, in Potsdam, householders within the 45 to 64 years age group have the highest median household income at $75,470, followed by those in the 25 to 44 years age group with an income of $56,433. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $27,230. Notably, householders within the under 25 years age group, had the lowest median household income at $16,664.
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 village of Potsdam.
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 $24,384(76.08%), escalating from a median of $32,049 in 2011 to $56,433 in 2021. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $5,088(15.74%), declining from a median of $32,318 in 2011 to $27,230 in 2021.
Potsdam, NY household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Potsdam 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 393(18.19%) households where the householder is under 25 years old, 654(30.28%) households with a householder aged between 25 and 44 years, 553(25.60%) households with a householder aged between 45 and 64 years, and 560(25.93%) 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 village of Potsdam, showcasing varying income levels among different age demographics.
Age-wise distribution of Potsdam household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Potsdam: 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 | 156 | 55 | 65 | 21 |
$10,000 - $14,999 | 33 | 38 | 24 | 54 |
$15,000 - $19,999 | 45 | - | 26 | 130 |
$20,000 - $24,999 | 37 | 46 | 17 | 73 |
$25,000 - $29,999 | 107 | - | 29 | 51 |
$30,000 - $34,999 | 9 | 15 | 33 | 68 |
$35,000 - $39,999 | 6 | 30 | 12 | 27 |
$40,000 - $44,999 | - | - | - | - |
$45,000 - $49,999 | - | 52 | 7 | - |
$50,000 - $59,999 | - | 132 | 8 | 21 |
$60,000 - $74,999 | - | 98 | 66 | 33 |
$75,000 - $99,999 | - | 75 | 63 | 38 |
$100,000 - $124,999 | - | 46 | 51 | 10 |
$125,000 - $149,999 | - | 33 | 20 | 16 |
$150,000 - $199,999 | - | 9 | 47 | 8 |
$200,000 or more | - | 25 | 85 | 10 |
To further explore the income distribution and gain insights into financial landscape of Potsdam when compared to the state of New York 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 Potsdam, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $79,557 for the state of New York. 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 Potsdam, among households headed by individuals aged 25 to 44,worth noting that 28.75% match or surpass the state of New York median income of $79,557. These 188 households, represent a notable portion of the total 654 households in Potsdam within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Potsdam, within the age group of 45 to 64 years, a noteworthy 48.10% of households meet or exceed the state of New York median income of $79,557. These 266 households, out of the total 553 households in this age cohort, signify a notable portion of mature demographic of Potsdam, showcasing commendable financial stability in comparison to the New York state median income benchmark.
- Householder 65 years and over: In Potsdam, among the over 65 years age group, only 14.64% of households either match or surpass the state of New York median income of $79,557. These 82 households, constituting low portion of the Potsdam village senior population, showcase commendable financial stability compared to the New York state median income benchmark.
Things to know
Which age group reports the highest median household income in Potsdam, NY?
In Potsdam, households led by individuals aged 45 to 64 years report the highest median household income of $75,470 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 Potsdam, NY?
In terms of income distribution across age cohorts, in Potsdam, householders within the 45 to 64 years age group have the highest median household income at $75,470, followed by those in the 25 to 44 years age group with an income of $56,433. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $27,230. Notably, householders within the under 25 years age group, had the lowest median household income at $16,664..
How does the median household income for households led by individuals of median age compare in Potsdam, NY?
The median age in Potsdam is 21.1, 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, within Potsdam, the age group of Under 25 years reported the lowest median household income, at $16,664.
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)