Median Household Income by Age of Householder in Terrell County, TX (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Terrell County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Terrell County.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $62,644 |
45 to 64 years | $78,967 |
65 years and over | $39,539 |
TABLE OF CONTENTS
Terrell County, TX 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 Terrell County population by age, the median age in Terrell County is 54.2 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 Terrell County, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,967.
In terms of income distribution across age cohorts, in Terrell County, the median household income stands at $78,967 for householders within the 45 to 64 years age group, followed by $62,644 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $39,539.
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 Terrell County.
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, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $21,389(37.15%), escalating from a median of $57,578 in 2011 to $78,967 in 2021. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $2,169(3.59%), increasing from a median of $60,475 in 2011 to $62,644 in 2021.
Terrell County, TX household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Terrell 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 0 households where the householder is under 25 years old, 80(18.78%) households with a householder aged between 25 and 44 years, 118(27.70%) households with a householder aged between 45 and 64 years, and 228(53.52%) 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 county of Terrell County, showcasing varying income levels among different age demographics.
Age-wise distribution of Terrell County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Terrell 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 |
$10,000 - $14,999 | - | - | - | 5 |
$15,000 - $19,999 | - | - | - | 19 |
$20,000 - $24,999 | - | - | 4 | 5 |
$25,000 - $29,999 | - | - | - | 16 |
$30,000 - $34,999 | - | 2 | 7 | - |
$35,000 - $39,999 | - | - | 9 | 55 |
$40,000 - $44,999 | - | - | 8 | 5 |
$45,000 - $49,999 | - | 36 | 9 | 19 |
$50,000 - $59,999 | - | 11 | 20 | 14 |
$60,000 - $74,999 | - | - | 9 | 19 |
$75,000 - $99,999 | - | 25 | - | 13 |
$100,000 - $124,999 | - | - | 52 | - |
$125,000 - $149,999 | - | - | - | 13 |
$150,000 - $199,999 | - | 6 | - | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Terrell County when compared to the state of Texas 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: In Terrell County, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
- Householder 25 to 44 years: In Terrell County, among households headed by individuals aged 25 to 44,worth noting that 38.75% match or surpass the state of Texas median income of $72,284. These 31 households, represent a notable portion of the total 80 households in Terrell County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Terrell County, within the age group of 45 to 64 years, a remarkable 51.69% of households meet or exceed the state of Texas median income of $72,284. These 61 households, out of the total 118 households in this age cohort, signify a substantial portion of mature demographic of Terrell County, showcasing commendable financial stability in comparison to the Texas state median income benchmark.
- Householder 65 years and over: In Terrell County, among the over 65 years age group, only 19.74% of households either match or surpass the state of Texas median income of $72,284. These 45 households, constituting low portion of the Terrell County county senior population, showcase commendable financial stability compared to the Texas state median income benchmark.
Things to know
Which age group reports the highest median household income in Terrell County, TX?
In Terrell County, households led by individuals aged 45 to 64 years report the highest median household income of $78,967 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 Terrell County, TX?
In terms of income distribution across age cohorts, in Terrell County, the median household income stands at $78,967 for householders within the 45 to 64 years age group, followed by $62,644 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $39,539..
How does the median household income for households led by individuals of median age compare in Terrell County, TX?
The median age in Terrell County is 54.2, 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 Terrell County, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,967.
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)