Median Household Income by Age of Householder in Wardensville, WV (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Wardensville. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Wardensville.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $34,079 |
65 years and over | $44,235 |
TABLE OF CONTENTS
Wardensville, WV 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 Wardensville population by age, the median age in Wardensville is 44.3 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 Wardensville, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $34,079.
In terms of income distribution across age cohorts, in Wardensville, where there exist only two delineated age groups, the median household income is $44,235 for householders within the 65 years and over age group, compared to $34,079 for the 45 to 64 years 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 town of Wardensville.
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 $14,815(50.36%), escalating from a median of $29,420 in 2011 to $44,235 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 $3,569(11.70%), increasing from a median of $30,510 in 2011 to $34,079 in 2021.
Wardensville, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Wardensville 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 14(8.05%) households where the householder is under 25 years old, 56(32.18%) households with a householder aged between 25 and 44 years, 53(30.46%) households with a householder aged between 45 and 64 years, and 51(29.31%) households where the householder is over 65 years old.
The age group of 65 years and over 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 town of Wardensville, showcasing varying income levels among different age demographics.
Age-wise distribution of Wardensville household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Wardensville: 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 | - | 5 | - | - |
$10,000 - $14,999 | - | 10 | 4 | 4 |
$15,000 - $19,999 | - | - | 7 | 3 |
$20,000 - $24,999 | - | 14 | - | 4 |
$25,000 - $29,999 | - | 2 | 10 | 5 |
$30,000 - $34,999 | - | 1 | 10 | 1 |
$35,000 - $39,999 | - | 1 | 1 | - |
$40,000 - $44,999 | 8 | - | - | 24 |
$45,000 - $49,999 | - | 5 | 4 | 2 |
$50,000 - $59,999 | 6 | - | - | 1 |
$60,000 - $74,999 | - | - | 4 | 5 |
$75,000 - $99,999 | - | 12 | 7 | - |
$100,000 - $124,999 | - | 6 | 1 | 2 |
$125,000 - $149,999 | - | - | 2 | - |
$150,000 - $199,999 | - | - | 1 | - |
$200,000 or more | - | - | 2 | - |
To further explore the income distribution and gain insights into financial landscape of Wardensville when compared to the state of West Virginia 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 worth noting that 42.86% of the households in Wardensville, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $54,329 for the state of West Virginia. These 6 Wardensville households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Wardensville, among households headed by individuals aged 25 to 44,worth noting that 32.14% match or surpass the state of West Virginia median income of $54,329. These 18 households, represent a notable portion of the total 56 households in Wardensville within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Wardensville, within the age group of 45 to 64 years, a noteworthy 32.08% of households meet or exceed the state of West Virginia median income of $54,329. These 17 households, out of the total 53 households in this age cohort, signify a notable portion of mature demographic of Wardensville, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
- Householder 65 years and over: In Wardensville, among the over 65 years age group, only 15.69% of households either match or surpass the state of West Virginia median income of $54,329. These 8 households, constituting low portion of the Wardensville town senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.
Things to know
Which age group reports the highest median household income in Wardensville, WV?
In Wardensville, households led by individuals aged 65 years and over report the highest median household income of $44,235 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 Wardensville, WV?
In terms of income distribution across age cohorts, in Wardensville, where there exist only two delineated age groups, the median household income is $44,235 for householders within the 65 years and over age group, compared to $34,079 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Wardensville, WV?
The median age in Wardensville is 44.3, 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 Wardensville, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $34,079.
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)