Salem, IN Median Household Income By Age

Per the latest American Community Survey by the Census Bureau, Salem sees its highest median household income among householders in the age group of 25 to 44 years old, at $65,494. Overall, the median household income for the city of Salem stands at $46,502.
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Updated Jan 10, 2024

Median Household Income by Age of Householder in Salem, IN (2021, in 2022 inflation-adjusted dollars)

This table presents the distribution of median household income among distinct age brackets of householders in Salem. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Salem.

Age Of The Head Of Household Median Household Income
Under 25 years -
25 to 44 years $65,494
45 to 64 years $38,970
65 years and over $34,117
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Avg Income Age group Avg Income Diversity Index Population Gender ratio (M:F) Homeownership % Avg commute time Custom Dataset: Salem Self-employed, multilingual, car-commuting, insured individuals 15 to 24 years $27,865 75 27,354 0.75 0.5% 55 min 25 to 44 years $44,231 90 37,459 0.86 19% 43 min 45 to 64 years $53,865 95 42,167 0.77 35% 15 min 65 to 74 years $51,800 74 32,972 0.91 45% 13 min 75 to 84 years $41,234 66 26,758 0.87 66% 42 min 85 years and over $36,093 56 18,857 0.89 76% 45 min

Salem, IN 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 Salem population by age, the median age in Salem is 37.9 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 Salem, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $65,494.

In terms of income distribution across age cohorts, in Salem, the median household income stands at $65,494 for householders within the 25 to 44 years age group, followed by $38,970 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $34,117.

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 Salem.

The bar chart shows Salem, IN median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).
Salem, IN median household income by age of householder: It offers a clear illustration of the differences in median household incomes in Salem, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over. In terms of income distribution across age cohorts, in Salem, the median household income stands at $65,494 for householders within the 25 to 44 years age group, followed by $38,970 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $34,117. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the three age groups with available Census data in both 2011 and 2021, one 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 25 to 44 years age group demonstrated a remarkable increase of $11,056(20.31%), escalating from a median of $54,438 in 2011 to $65,494 in 2021. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $1,207(3%), declining from a median of $40,177 in 2011 to $38,970 in 2021.

Salem, IN household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Salem 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 140(5.63%) households where the householder is under 25 years old, 696(28.01%) households with a householder aged between 25 and 44 years, 898(36.14%) households with a householder aged between 45 and 64 years, and 751(30.22%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the city of Salem, showcasing varying income levels among different age demographics.

The bar chart displays the distribution of household income in Salem, IN across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.
Salem, IN household income distribution across age groups: The age group of 25 to 44 years exhibits the highest median household income, while the largest number of households falls within the 45 to 64 years bracket. This distribution hints at economic disparities within the city of Salem, showcasing varying income levels among different age demographics. Source: U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates

Age-wise distribution of Salem household incomes: Comparative analysis across 16 income brackets

Discover the household distribution across 16 income brackets among four distinct age groups in Salem: 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 8 29 132 35
$10,000 - $14,999 7 81 85 72
$15,000 - $19,999 - 26 17 113
$20,000 - $24,999 18 - 60 83
$25,000 - $29,999 27 40 78 60
$30,000 - $34,999 6 23 69 46
$35,000 - $39,999 - 45 19 31
$40,000 - $44,999 6 10 12 33
$45,000 - $49,999 - 45 43 32
$50,000 - $59,999 - 36 122 58
$60,000 - $74,999 8 108 66 43
$75,000 - $99,999 - 126 91 56
$100,000 - $124,999 54 23 85 11
$125,000 - $149,999 - 80 8 56
$150,000 - $199,999 6 21 11 7
$200,000 or more - 3 - 15
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To further explore the income distribution and gain insights into financial landscape of Salem when compared to the state of Indiana 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 worth noting that 48.57% of the households in Salem, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $66,785 for the state of Indiana. These 68 Salem households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
  • Householder 25 to 44 years: In Salem, among households headed by individuals aged 25 to 44, an impressive 51.87% match or surpass the state of Indiana median income of $66,785. These 361 households, represent a significant portion of the total 696 households in Salem within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
  • Householder 45 to 64 years: In Salem, within the age group of 45 to 64 years, a noteworthy 29.06% of households meet or exceed the state of Indiana median income of $66,785. These 261 households, out of the total 898 households in this age cohort, signify a notable portion of mature demographic of Salem, showcasing commendable financial stability in comparison to the Indiana state median income benchmark.
  • Householder 65 years and over: In Salem, among the over 65 years age group, a noteworthy 25.03% of households either match or surpass the state of Indiana median income of $66,785. These 188 households, constituting notable portion of the Salem city senior population, showcase commendable financial stability compared to the Indiana state median income benchmark.

Things to know

Which age group reports the highest median household income in Salem, IN?

In Salem, households led by individuals aged 25 to 44 years report the highest median household income of $65,494 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 Salem, IN?

In terms of income distribution across age cohorts, in Salem, the median household income stands at $65,494 for householders within the 25 to 44 years age group, followed by $38,970 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $34,117..

How does the median household income for households led by individuals of median age compare in Salem, IN?

The median age in Salem is 37.9, 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 Salem, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $65,494.

References

Datasets

Explore datasets by year of publication.
2023
Age-wise distribution of Salem, IN household incomes: Comparative analysis across 16 income brackets
Last updated January 10, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents the the household distribution across 16 income brackets among four distinct age groups in Salem: Under 25 years, 25-44 years, 45-64 years, and over 65 years. The dataset highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories, aiding in data analysis and decision-making..

Key observations

  • Upon closer examination of the distribution of households among age brackets, it reveals that there are 140(5.63%) households where the householder is under 25 years old, 696(28.01%) households with a householder aged between 25 and 44 years, 898(36.14%) households with a householder aged between 45 and 64 years, and 751(30.22%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the city of Salem, showcasing varying income levels among different age demographics.

Salem, IN household income distribution across age groups

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates.

Income brackets:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $100,000 to $124,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Household Income: This column showcases 16 income brackets ranging from Under $10,000 to $200,000+ ( As mentioned above).
  • Under 25 years: The count of households led by a head of household under 25 years old with income within a specified income bracket.
  • 25 to 44 years: The count of households led by a head of household 25 to 44 years old with income within a specified income bracket.
  • 45 to 64 years: The count of households led by a head of household 45 to 64 years old with income within a specified income bracket.
  • 65 years and over: The count of households led by a head of household 65 years and over old with income within a specified income bracket.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Salem median household income by age. You can refer the same here

Salem, IN annual median income by age groups dataset (in 2022 inflation-adjusted dollars)
Last updated January 10, 2024
ACS
Free
Neilsberg
CSV, JSON
2017-2021
CC BY 4.0
About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Salem. Based on the latest 2017-2021 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Salem. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2021

In terms of income distribution across age cohorts, in Salem, the median household income stands at $65,494 for householders within the 25 to 44 years age group, followed by $38,970 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $34,117.

Salem, IN median household income by age of householder

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Age groups classifications include:

  • Under 25 years
  • 25 to 44 years
  • 45 to 64 years
  • 65 years and over

Variables / Data Columns

  • Age Of The Head Of Household: This column presents the age of the head of household
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Salem median household income by age. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

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Salem, IN Income Salem, IN Demographics

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Median household income of places that contain Salem (in 2022 dollars)
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Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.

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