Median Household Income by Age of Householder in West Yellowstone, MT (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in West Yellowstone. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in West Yellowstone.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $39,911 |
45 to 64 years | $59,819 |
65 years and over | $88,316 |
TABLE OF CONTENTS
West Yellowstone, MT 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 West Yellowstone population by age, the median age in West Yellowstone is 34.8 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 West Yellowstone, the age group of 25 to 44 years had the second lowest median household income, recorded at $39,911.
In terms of income distribution across age cohorts, in West Yellowstone, the median household income stands at $88,316 for householders within the 65 years and over age group, followed by $59,819 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $39,911.
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 West Yellowstone.
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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $4,776(5.72%), escalating from a median of $83,540 in 2011 to $88,316 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 $6,244(13.53%), declining from a median of $46,155 in 2011 to $39,911 in 2021.
West Yellowstone, MT household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the West Yellowstone 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 12(2.86%) households where the householder is under 25 years old, 178(42.38%) households with a householder aged between 25 and 44 years, 159(37.86%) households with a householder aged between 45 and 64 years, and 71(16.90%) 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 West Yellowstone, showcasing varying income levels among different age demographics.
Age-wise distribution of West Yellowstone household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in West Yellowstone: 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 | - | 9 | 11 | - |
$10,000 - $14,999 | - | 37 | 21 | - |
$15,000 - $19,999 | 12 | - | 10 | - |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | - | 2 | - |
$30,000 - $34,999 | - | 23 | 14 | - |
$35,000 - $39,999 | - | 26 | 4 | 8 |
$40,000 - $44,999 | - | - | 10 | - |
$45,000 - $49,999 | - | - | 6 | 12 |
$50,000 - $59,999 | - | 20 | 11 | - |
$60,000 - $74,999 | - | - | 32 | 1 |
$75,000 - $99,999 | - | 11 | 26 | 27 |
$100,000 - $124,999 | - | 27 | 4 | - |
$125,000 - $149,999 | - | - | 4 | 4 |
$150,000 - $199,999 | - | - | - | - |
$200,000 or more | - | 25 | 4 | 19 |
To further explore the income distribution and gain insights into financial landscape of West Yellowstone when compared to the state of Montana 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 West Yellowstone, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $67,631 for the state of Montana. 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 West Yellowstone, among households headed by individuals aged 25 to 44,worth noting that 35.39% match or surpass the state of Montana median income of $67,631. These 63 households, represent a notable portion of the total 178 households in West Yellowstone within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In West Yellowstone, within the age group of 45 to 64 years, a noteworthy 44.03% of households meet or exceed the state of Montana median income of $67,631. These 70 households, out of the total 159 households in this age cohort, signify a notable portion of mature demographic of West Yellowstone, showcasing commendable financial stability in comparison to the Montana state median income benchmark.
- Householder 65 years and over: In West Yellowstone, among the over 65 years age group, an impressive 71.83% of households either match or surpass the state of Montana median income of $67,631. These 51 households, constituting a significant portion of the West Yellowstone town senior population, showcase commendable financial stability compared to the Montana state median income benchmark.
Things to know
Which age group reports the highest median household income in West Yellowstone, MT?
In West Yellowstone, households led by individuals aged 65 years and over report the highest median household income of $88,316 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 West Yellowstone, MT?
In terms of income distribution across age cohorts, in West Yellowstone, the median household income stands at $88,316 for householders within the 65 years and over age group, followed by $59,819 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $39,911..
How does the median household income for households led by individuals of median age compare in West Yellowstone, MT?
The median age in West Yellowstone is 34.8, 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, within West Yellowstone, the age group of 25 to 44 years had the second lowest median household income, recorded at $39,911.
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)