Median Household Income by Age of Householder in Redings Mill, MO (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Redings Mill. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Redings Mill.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $56,297 |
45 to 64 years | - |
65 years and over | $65,936 |
TABLE OF CONTENTS
Redings Mill, MO 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 Redings Mill population by age, the median age in Redings Mill is 31.8 years.
Typically for a location with median age in this range, it suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Redings Mill, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $56,297.
In terms of income distribution across age cohorts, in Redings Mill, where there exist only two delineated age groups, the median household income is $65,936 for householders within the 65 years and over age group, compared to $56,297 for the 25 to 44 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 village of Redings Mill.
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 $4,098(6.63%), escalating from a median of $61,838 in 2011 to $65,936 in 2021. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $1,455(2.52%), declining from a median of $57,752 in 2011 to $56,297 in 2021.
Redings Mill, MO household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Redings Mill 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 2(3.85%) households where the householder is under 25 years old, 15(28.85%) households with a householder aged between 25 and 44 years, 17(32.69%) households with a householder aged between 45 and 64 years, and 18(34.62%) households where the householder is over 65 years old.
In Redings Mill, the age group of 65 years and over 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 Redings Mill household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Redings Mill: 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 | - | 2 | 2 | 2 |
$10,000 - $14,999 | - | - | - | 1 |
$15,000 - $19,999 | - | - | - | - |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | - | - | 2 |
$30,000 - $34,999 | - | - | - | - |
$35,000 - $39,999 | - | - | - | - |
$40,000 - $44,999 | - | 3 | - | 1 |
$45,000 - $49,999 | 2 | - | 1 | - |
$50,000 - $59,999 | - | 3 | 2 | 1 |
$60,000 - $74,999 | - | - | - | 8 |
$75,000 - $99,999 | - | 7 | 1 | - |
$100,000 - $124,999 | - | - | 5 | 1 |
$125,000 - $149,999 | - | - | - | - |
$150,000 - $199,999 | - | - | - | 2 |
$200,000 or more | - | - | 6 | - |
To further explore the income distribution and gain insights into financial landscape of Redings Mill when compared to the state of Missouri 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 Redings Mill, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $64,811 for the state of Missouri. 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 Redings Mill, among households headed by individuals aged 25 to 44,worth noting that 46.67% match or surpass the state of Missouri median income of $64,811. These 7 households, represent a notable portion of the total 15 households in Redings Mill within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Redings Mill, within the age group of 45 to 64 years, a remarkable 70.59% of households meet or exceed the state of Missouri median income of $64,811. These 12 households, out of the total 17 households in this age cohort, signify a substantial portion of mature demographic of Redings Mill, showcasing commendable financial stability in comparison to the Missouri state median income benchmark.
- Householder 65 years and over: In Redings Mill, among the over 65 years age group, an impressive 61.11% of households either match or surpass the state of Missouri median income of $64,811. These 11 households, constituting a significant portion of the Redings Mill village senior population, showcase commendable financial stability compared to the Missouri state median income benchmark.
Things to know
Which age group reports the highest median household income in Redings Mill, MO?
In Redings Mill, households led by individuals aged 65 years and over report the highest median household income of $65,936 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 Redings Mill, MO?
In terms of income distribution across age cohorts, in Redings Mill, where there exist only two delineated age groups, the median household income is $65,936 for householders within the 65 years and over age group, compared to $56,297 for the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Redings Mill, MO?
The median age in Redings Mill is 31.8, which falls within the 25 to 44 years range among the four age groups defined by the US Census Bureau. This demographic suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Redings Mill, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $56,297.
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)