Median Household Income by Age of Householder in Presque Isle County, MI (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Presque Isle County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Presque Isle County.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | $44,250 |
25 to 44 years | $69,283 |
45 to 64 years | $60,928 |
65 years and over | $49,400 |
TABLE OF CONTENTS
Presque Isle County, MI 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 Presque Isle County population by age, the median age in Presque Isle County is 55.8 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 Presque Isle County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $60,928.
In terms of income distribution across age cohorts, in Presque Isle County, householders within the 25 to 44 years age group have the highest median household income at $69,283, followed by those in the 45 to 64 years age group with an income of $60,928. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $49,400. Notably, householders within the under 25 years age group, had the lowest median household income at $44,250.
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 county of Presque Isle County.
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, none had a decline during this time period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $11,078(28.91%), escalating from a median of $38,322 in 2011 to $49,400 in 2021. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $729(1.21%), increasing from a median of $60,199 in 2011 to $60,928 in 2021.
Presque Isle County, MI household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Presque Isle County 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 53(0.91%) households where the householder is under 25 years old, 1,043(17.85%) households with a householder aged between 25 and 44 years, 2,188(37.44%) households with a householder aged between 45 and 64 years, and 2,560(43.81%) 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 65 years and over bracket. This distribution hints at economic disparities within the county of Presque Isle County, showcasing varying income levels among different age demographics.
Age-wise distribution of Presque Isle County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Presque Isle County: 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 | - | 45 | 126 | 113 |
$10,000 - $14,999 | - | 35 | 119 | 129 |
$15,000 - $19,999 | 4 | 28 | 94 | 159 |
$20,000 - $24,999 | 3 | 89 | 136 | 167 |
$25,000 - $29,999 | 4 | 23 | 123 | 135 |
$30,000 - $34,999 | 11 | 30 | 69 | 227 |
$35,000 - $39,999 | - | 21 | 97 | 165 |
$40,000 - $44,999 | 15 | 70 | 88 | 169 |
$45,000 - $49,999 | 1 | 71 | 63 | 136 |
$50,000 - $59,999 | 9 | 55 | 232 | 303 |
$60,000 - $74,999 | 2 | 177 | 242 | 293 |
$75,000 - $99,999 | - | 156 | 313 | 341 |
$100,000 - $124,999 | - | 81 | 192 | 100 |
$125,000 - $149,999 | - | 99 | 81 | 41 |
$150,000 - $199,999 | - | 50 | 86 | 55 |
$200,000 or more | 4 | 13 | 127 | 27 |
To further explore the income distribution and gain insights into financial landscape of Presque Isle County when compared to the state of Michigan 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 11.32% of the households in Presque Isle County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $66,986 for the state of Michigan. These 6 Presque Isle County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Presque Isle County, among households headed by individuals aged 25 to 44, an impressive 55.23% match or surpass the state of Michigan median income of $66,986. These 576 households, represent a significant portion of the total 1,043 households in Presque Isle County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Presque Isle County, within the age group of 45 to 64 years, a noteworthy 47.58% of households meet or exceed the state of Michigan median income of $66,986. These 1,041 households, out of the total 2,188 households in this age cohort, signify a notable portion of mature demographic of Presque Isle County, showcasing commendable financial stability in comparison to the Michigan state median income benchmark.
- Householder 65 years and over: In Presque Isle County, among the over 65 years age group, a noteworthy 33.48% of households either match or surpass the state of Michigan median income of $66,986. These 857 households, constituting notable portion of the Presque Isle County county senior population, showcase commendable financial stability compared to the Michigan state median income benchmark.
Things to know
Which age group reports the highest median household income in Presque Isle County, MI?
In Presque Isle County, households led by individuals aged 25 to 44 years report the highest median household income of $69,283 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 Presque Isle County, MI?
In terms of income distribution across age cohorts, in Presque Isle County, householders within the 25 to 44 years age group have the highest median household income at $69,283, followed by those in the 45 to 64 years age group with an income of $60,928. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $49,400. Notably, householders within the under 25 years age group, had the lowest median household income at $44,250..
How does the median household income for households led by individuals of median age compare in Presque Isle County, MI?
The median age in Presque Isle County is 55.8, 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 Presque Isle County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $60,928.
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)