Ville Platte, LA 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 Ville Platte population by age, the median age in Ville Platte is 37.3 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 Ville Platte, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $22,689.
In terms of income distribution across age cohorts, in Ville Platte, the median household income stands at $26,072 for householders within the 45 to 64 years age group, followed by $22,689 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 $21,874.
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 Ville Platte.
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 an increase in this time period. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $591(2.63%), declining from a median of $22,465 in 2011 to $21,874 in 2021. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $22,779(50.10%), declining from a median of $45,468 in 2011 to $22,689 in 2021.
Ville Platte, LA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Ville Platte 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 287(10.74%) households where the householder is under 25 years old, 868(32.49%) households with a householder aged between 25 and 44 years, 667(24.96%) households with a householder aged between 45 and 64 years, and 850(31.81%) 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 city of Ville Platte, showcasing varying income levels among different age demographics.
Age-wise distribution of Ville Platte household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Ville Platte: 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 | 107 | 167 | 146 | 136 |
| $10,000 - $14,999 | 15 | 173 | 59 | 76 |
| $15,000 - $19,999 | 15 | 71 | 31 | 204 |
| $20,000 - $24,999 | - | 116 | 132 | 141 |
| $25,000 - $29,999 | 69 | - | 24 | 9 |
| $30,000 - $34,999 | - | 40 | 40 | 9 |
| $35,000 - $39,999 | - | 80 | 37 | 23 |
| $40,000 - $44,999 | 16 | 89 | 63 | 61 |
| $45,000 - $49,999 | - | 13 | 13 | 35 |
| $50,000 - $59,999 | - | 99 | 27 | 39 |
| $60,000 - $74,999 | 20 | 20 | 5 | 46 |
| $75,000 - $99,999 | 45 | - | 40 | 36 |
| $100,000 - $124,999 | - | - | 7 | 35 |
| $125,000 - $149,999 | - | - | 29 | - |
| $150,000 - $199,999 | - | - | 14 | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Ville Platte when compared to the state of Louisiana 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 only 22.65% of the households in Ville Platte, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $55,416 for the state of Louisiana. These 65 Ville Platte households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Ville Platte, among households headed by individuals aged 25 to 44,noteworthy that only 13.71% match or surpass the state of Louisiana median income of $55,416. These 119 households, represent a low portion of the total 868 households in Ville Platte within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Ville Platte, within the age group of 45 to 64 years, only 18.29% of households meet or exceed the state of Louisiana median income of $55,416. These 122 households, out of the total 667 households in this age cohort, signify a low portion of mature demographic of Ville Platte, showcasing commendable financial stability in comparison to the Louisiana state median income benchmark.
- Householder 65 years and over: In Ville Platte, among the over 65 years age group, only 18.35% of households either match or surpass the state of Louisiana median income of $55,416. These 156 households, constituting low portion of the Ville Platte city senior population, showcase commendable financial stability compared to the Louisiana state median income benchmark.