Armstrong township, Lycoming County, Pennsylvania Median Household Income By Age

Armstrong township, Lycoming County, 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 Armstrong township population by age, the median age in Armstrong township is 50.3 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 Armstrong township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,745.

In terms of income distribution across age cohorts, in Armstrong township, the median household income stands at $78,745 for householders within the 45 to 64 years age group, followed by $76,467 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $72,237.

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 Armstrong township.

FIGURE 1

Armstrong township, Lycoming County, Pennsylvania median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Armstrong township, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over.

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 2012 and 2022, 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 $46,460(154.83%), escalating from a median of $30,007 in 2012 to $76,467 in 2022. 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 $279(0.38%), declining from a median of $72,516 in 2012 to $72,237 in 2022.

Armstrong township, Lycoming County, Pennsylvania household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Armstrong 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 8(3.42%) households where the householder is under 25 years old, 50(21.37%) households with a householder aged between 25 and 44 years, 122(52.14%) households with a householder aged between 45 and 64 years, and 54(23.08%) households where the householder is over 65 years old.

In Armstrong township, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.

FIGURE 2

Armstrong township, Lycoming County, Pennsylvania household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Armstrong township: under 25 years, 25-44 years, 45-64 years, and over 65 years

To further explore the income distribution and gain insights into financial landscape of Armstrong 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: It is impressive that 87.50% of the households in Armstrong township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $76,188 for the state of Pennsylvania. These 7 Armstrong township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Armstrong township, among households headed by individuals aged 25 to 44,worth noting that 46% match or surpass the state of Pennsylvania median income of $76,188. These 23 households, represent a notable portion of the total 50 households in Armstrong township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Armstrong township, within the age group of 45 to 64 years, a remarkable 50.82% of households meet or exceed the state of Pennsylvania median income of $76,188. These 62 households, out of the total 122 households in this age cohort, signify a substantial portion of mature demographic of Armstrong township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
• Householder 65 years and over: In Armstrong township, among the over 65 years age group, a noteworthy 40.74% of households either match or surpass the state of Pennsylvania median income of $76,188. These 22 households, constituting notable portion of the Armstrong 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 Armstrong township, Lycoming County, Pennsylvania?

In Armstrong township, households led by individuals aged 45 to 64 years report the highest median household income of $78,745 according to the American Community Survey 2018-2022 5-Year Estimates by the US Census Bureau.

How does the median household income vary by age in Armstrong township, Lycoming County, Pennsylvania?

In terms of income distribution across age cohorts, in Armstrong township, the median household income stands at $78,745 for householders within the 45 to 64 years age group, followed by $76,467 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $72,237..

How does the median household income for households led by individuals of median age compare in Armstrong township, Lycoming County, Pennsylvania?

The median age in Armstrong township is 50.3, 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 Armstrong township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,745.

References

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