Median Household Income by Age of Householder in Scott township, Wayne County, Pennsylvania (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Scott township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Scott township.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $79,717 |
65 years and over | $54,158 |
TABLE OF CONTENTS
Scott township, Wayne County, Pennsylvania 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 Scott township population by age, the median age in Scott township is 51.7 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 Scott township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $79,717.
In terms of income distribution across age cohorts, in Scott township, where there exist only two delineated age groups, the median household income is $79,717 for householders within the 45 to 64 years age group, compared to $54,158 for the 65 years and over 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 township of Scott township.
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, 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 $25,827(91.16%), escalating from a median of $28,331 in 2011 to $54,158 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 $6,983(9.60%), increasing from a median of $72,734 in 2011 to $79,717 in 2021.
Scott township, Wayne County, Pennsylvania household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Scott township 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 3(1.28%) households where the householder is under 25 years old, 35(14.96%) households with a householder aged between 25 and 44 years, 97(41.45%) households with a householder aged between 45 and 64 years, and 99(42.31%) 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 65 years and over bracket. This distribution hints at economic disparities within the township of Scott township, showcasing varying income levels among different age demographics.
Age-wise distribution of Scott township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Scott township: 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 | - | - | 11 | 7 |
$10,000 - $14,999 | - | - | - | 4 |
$15,000 - $19,999 | - | - | - | 17 |
$20,000 - $24,999 | - | - | 2 | 5 |
$25,000 - $29,999 | - | - | 8 | 3 |
$30,000 - $34,999 | - | 14 | 11 | 3 |
$35,000 - $39,999 | - | 1 | 5 | 6 |
$40,000 - $44,999 | - | - | - | 4 |
$45,000 - $49,999 | - | - | 5 | - |
$50,000 - $59,999 | - | - | 3 | 29 |
$60,000 - $74,999 | 3 | - | 5 | 15 |
$75,000 - $99,999 | - | - | 14 | 4 |
$100,000 - $124,999 | - | 5 | 7 | - |
$125,000 - $149,999 | - | 9 | - | - |
$150,000 - $199,999 | - | 6 | 23 | 2 |
$200,000 or more | - | - | 3 | - |
To further explore the income distribution and gain insights into financial landscape of Scott township when compared to the state of Pennsylvania 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 100% of the households in Scott township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $71,798 for the state of Pennsylvania. These 3 Scott township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Scott township, among households headed by individuals aged 25 to 44, an impressive 57.14% match or surpass the state of Pennsylvania median income of $71,798. These 20 households, represent a significant portion of the total 35 households in Scott township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Scott township, within the age group of 45 to 64 years, a remarkable 53.61% of households meet or exceed the state of Pennsylvania median income of $71,798. These 52 households, out of the total 97 households in this age cohort, signify a substantial portion of mature demographic of Scott township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Scott township, among the over 65 years age group, only 21.21% of households either match or surpass the state of Pennsylvania median income of $71,798. These 21 households, constituting low portion of the Scott township township senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in Scott township, Wayne County, Pennsylvania?
In Scott township, households led by individuals aged 45 to 64 years report the highest median household income of $79,717 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 Scott township, Wayne County, Pennsylvania?
In terms of income distribution across age cohorts, in Scott township, where there exist only two delineated age groups, the median household income is $79,717 for householders within the 45 to 64 years age group, compared to $54,158 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Scott township, Wayne County, Pennsylvania?
The median age in Scott township is 51.7, 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 Scott township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $79,717.
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)