Median Household Income by Age of Householder in Tioga Township, Pennsylvania (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Tioga township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Tioga township.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $80,393 |
65 years and over | $35,805 |
TABLE OF CONTENTS
Tioga Township, 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 Tioga township population by age, the median age in Tioga township is 41.5 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Tioga township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Tioga township, where there exist only two delineated age groups, the median household income is $80,393 for householders within the 45 to 64 years age group, compared to $35,805 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 Tioga 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, 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 $6,058(20.37%), escalating from a median of $29,747 in 2011 to $35,805 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 $10,893(11.93%), declining from a median of $91,286 in 2011 to $80,393 in 2021.
Tioga Township, Pennsylvania household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Tioga 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 0 households where the householder is under 25 years old, 145(37.37%) households with a householder aged between 25 and 44 years, 113(29.12%) households with a householder aged between 45 and 64 years, and 130(33.51%) 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 25 to 44 years bracket. This distribution hints at economic disparities within the township of Tioga township, showcasing varying income levels among different age demographics.
Age-wise distribution of Tioga township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Tioga 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 | - | 3 | - | 11 |
$10,000 - $14,999 | - | - | 8 | 12 |
$15,000 - $19,999 | - | 3 | - | 8 |
$20,000 - $24,999 | - | 6 | - | 22 |
$25,000 - $29,999 | - | 29 | 3 | - |
$30,000 - $34,999 | - | - | 4 | 15 |
$35,000 - $39,999 | - | 35 | 3 | 24 |
$40,000 - $44,999 | - | - | 7 | 3 |
$45,000 - $49,999 | - | 3 | 3 | 13 |
$50,000 - $59,999 | - | - | 25 | 5 |
$60,000 - $74,999 | - | 16 | 4 | 5 |
$75,000 - $99,999 | - | 15 | 22 | 6 |
$100,000 - $124,999 | - | 17 | 20 | 1 |
$125,000 - $149,999 | - | 6 | 6 | 3 |
$150,000 - $199,999 | - | 12 | - | 2 |
$200,000 or more | - | - | 8 | - |
To further explore the income distribution and gain insights into financial landscape of Tioga 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: In Tioga township, 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 Tioga township, among households headed by individuals aged 25 to 44,worth noting that 45.52% match or surpass the state of Pennsylvania median income of $71,798. These 66 households, represent a notable portion of the total 145 households in Tioga township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Tioga township, within the age group of 45 to 64 years, a remarkable 53.10% of households meet or exceed the state of Pennsylvania median income of $71,798. These 60 households, out of the total 113 households in this age cohort, signify a substantial portion of mature demographic of Tioga township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Tioga township, among the over 65 years age group, only 13.08% of households either match or surpass the state of Pennsylvania median income of $71,798. These 17 households, constituting low portion of the Tioga 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 Tioga Township, Pennsylvania?
In Tioga township, households led by individuals aged 45 to 64 years report the highest median household income of $80,393 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 Tioga Township, Pennsylvania?
In terms of income distribution across age cohorts, in Tioga township, where there exist only two delineated age groups, the median household income is $80,393 for householders within the 45 to 64 years age group, compared to $35,805 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Tioga Township, Pennsylvania?
The median age in Tioga township is 41.5, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Tioga township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
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)