Village Of Clarkston, MI 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 Village Of Clarkston population by age, the median age in Village Of Clarkston is 51.3 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 Village Of Clarkston, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $181,504.
In terms of income distribution across age cohorts, in Village Of Clarkston, where there exist only two delineated age groups, the median household income is $181,504 for householders within the 45 to 64 years age group, compared to $86,896 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 city of Village Of Clarkston.
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 45 to 64 years age group demonstrated a remarkable increase of $87,250(92.57%), escalating from a median of $94,254 in 2011 to $181,504 in 2021. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $3,538(4.24%), increasing from a median of $83,358 in 2011 to $86,896 in 2021.
Village Of Clarkston, MI household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Village Of Clarkston 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 4(1.19%) households where the householder is under 25 years old, 89(26.57%) households with a householder aged between 25 and 44 years, 99(29.55%) households with a householder aged between 45 and 64 years, and 143(42.69%) 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 city of Village Of Clarkston, showcasing varying income levels among different age demographics.
Age-wise distribution of Village Of Clarkston household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Village Of Clarkston: 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 | - | 4 | 4 | 8 |
| $10,000 - $14,999 | - | - | - | - |
| $15,000 - $19,999 | - | 4 | 7 | - |
| $20,000 - $24,999 | - | 4 | - | - |
| $25,000 - $29,999 | 4 | 10 | 3 | 5 |
| $30,000 - $34,999 | - | - | 4 | 17 |
| $35,000 - $39,999 | - | - | - | 6 |
| $40,000 - $44,999 | - | - | 8 | 7 |
| $45,000 - $49,999 | - | - | - | 10 |
| $50,000 - $59,999 | - | 10 | - | 5 |
| $60,000 - $74,999 | - | - | 6 | 9 |
| $75,000 - $99,999 | - | 15 | 7 | 36 |
| $100,000 - $124,999 | - | 4 | 4 | 14 |
| $125,000 - $149,999 | - | 12 | 6 | 6 |
| $150,000 - $199,999 | - | 8 | 16 | 5 |
| $200,000 or more | - | 18 | 34 | 15 |
To further explore the income distribution and gain insights into financial landscape of Village Of Clarkston when compared to the state of Michigan 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 Village Of Clarkston, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $66,986 for the state of Michigan. 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 Village Of Clarkston, among households headed by individuals aged 25 to 44, an impressive 64.04% match or surpass the state of Michigan median income of $66,986. These 57 households, represent a significant portion of the total 89 households in Village Of Clarkston within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Village Of Clarkston, within the age group of 45 to 64 years, a remarkable 73.74% of households meet or exceed the state of Michigan median income of $66,986. These 73 households, out of the total 99 households in this age cohort, signify a substantial portion of mature demographic of Village Of Clarkston, showcasing commendable financial stability in comparison to the Michigan state median income benchmark.
- Householder 65 years and over: In Village Of Clarkston, among the over 65 years age group, an impressive 59.44% of households either match or surpass the state of Michigan median income of $66,986. These 85 households, constituting a significant portion of the Village Of Clarkston city senior population, showcase commendable financial stability compared to the Michigan state median income benchmark.