Putnam County, 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 Putnam County population by age, the median age in Putnam County is 44.2 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 Putnam County, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $137,926.
In terms of income distribution across age cohorts, in Putnam County, householders within the 45 to 64 years age group have the highest median household income at $137,926, followed by those in the 25 to 44 years age group with an income of $135,304. Meanwhile householders within the under 25 years age group report the second lowest median household income of $106,361. Notably, householders within the 65 years and over age group, had the lowest median household income at $63,345.
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 Putnam 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 2012 and 2022, two groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $91,107(597.27%), escalating from a median of $15,254 in 2012 to $106,361 in 2022. 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 $10,270(13.95%), declining from a median of $73,615 in 2012 to $63,345 in 2022.
Putnam County, NY household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Putnam 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 196(0.54%) households where the householder is under 25 years old, 8,669(24.01%) households with a householder aged between 25 and 44 years, 15,703(43.49%) households with a householder aged between 45 and 64 years, and 11,536(31.95%) households where the householder is over 65 years old.
In Putnam County, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.
Age-wise distribution of Putnam County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Putnam 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 | - | 62 | 520 | 637 |
| $10,000 - $14,999 | - | 91 | 283 | 449 |
| $15,000 - $19,999 | 43 | 90 | 44 | 788 |
| $20,000 - $24,999 | - | - | 106 | 177 |
| $25,000 - $29,999 | - | - | 457 | 324 |
| $30,000 - $34,999 | - | - | - | 666 |
| $35,000 - $39,999 | - | - | 284 | 639 |
| $40,000 - $44,999 | - | 202 | 507 | 747 |
| $45,000 - $49,999 | - | 154 | 410 | 503 |
| $50,000 - $59,999 | - | 258 | 328 | 661 |
| $60,000 - $74,999 | - | 558 | 794 | 678 |
| $75,000 - $99,999 | - | 753 | 1,908 | 1,457 |
| $100,000 - $124,999 | 153 | 1,634 | 1,231 | 1,279 |
| $125,000 - $149,999 | - | 973 | 1,583 | 627 |
| $150,000 - $199,999 | - | 1,649 | 2,631 | 838 |
| $200,000 or more | - | 2,245 | 4,617 | 1,066 |
To further explore the income distribution and gain insights into financial landscape of Putnam County 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 impressive that 78.06% of the households in Putnam County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $79,557 for the state of New York. These 153 Putnam County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Putnam County, among households headed by individuals aged 25 to 44, an impressive 83.68% match or surpass the state of New York median income of $79,557. These 7,254 households, represent a significant portion of the total 8,669 households in Putnam County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Putnam County, within the age group of 45 to 64 years, a remarkable 76.23% of households meet or exceed the state of New York median income of $79,557. These 11,970 households, out of the total 15,703 households in this age cohort, signify a substantial portion of mature demographic of Putnam County, showcasing commendable financial stability in comparison to the New York state median income benchmark.
- Householder 65 years and over: In Putnam County, among the over 65 years age group, a noteworthy 45.66% of households either match or surpass the state of New York median income of $79,557. These 5,267 households, constituting notable portion of the Putnam County county senior population, showcase commendable financial stability compared to the New York state median income benchmark.