Atqasuk, AK Median Household Income By Age

Atqasuk, AK 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 Atqasuk population by age, the median age in Atqasuk is 23.6 years.

Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, within Atqasuk, the age group of Under 25 years had the second lowest median household income, recorded at $103,084.

In terms of income distribution across age cohorts, in Atqasuk, the median household income stands at $159,225 for householders within the 45 to 64 years age group, followed by $125,817 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $103,084.

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 Atqasuk.

FIGURE 1

Atqasuk, AK median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Atqasuk, 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 two age groups with available Census data in both 2012 and 2022, 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 $83,375(109.92%), escalating from a median of $75,850 in 2012 to $159,225 in 2022. 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 $74,139(143.46%), increasing from a median of $51,678 in 2012 to $125,817 in 2022.

Atqasuk, AK household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Atqasuk 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(42.42%) households where the householder is under 25 years old, 4(12.12%) households with a householder aged between 25 and 44 years, 7(21.21%) households with a householder aged between 45 and 64 years, and 8(24.24%) 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 under 25 years bracket. This distribution hints at economic disparities within the city of Atqasuk, showcasing varying income levels among different age demographics.

FIGURE 2

Atqasuk, AK household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Atqasuk: 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 Atqasuk when compared to the state of Alaska 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 71.43% of the households in Atqasuk, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $89,933 for the state of Alaska. These 10 Atqasuk households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Atqasuk, there are no households led by individuals aged 25 to 44, that meet or surpass the state of Alaska median income of $89,933. Thus of the total 4 households in Atqasuk, where the householder is 25-44 years old, none had an income higher than the median state income.
• Householder 45 to 64 years: In Atqasuk, within the age group of 45 to 64 years, a remarkable 85.71% of households meet or exceed the state of Alaska median income of $89,933. These 6 households, out of the total 7 households in this age cohort, signify a substantial portion of mature demographic of Atqasuk, showcasing commendable financial stability in comparison to the Alaska state median income benchmark.
• Householder 65 years and over: In Atqasuk, among the over 65 years age group, an impressive 62.50% of households either match or surpass the state of Alaska median income of $89,933. These 5 households, constituting a significant portion of the Atqasuk city senior population, showcase commendable financial stability compared to the Alaska state median income benchmark.

Things to know

Which age group reports the highest median household income in Atqasuk, AK?

In Atqasuk, households led by individuals aged 45 to 64 years report the highest median household income of $159,225 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 Atqasuk, AK?

In terms of income distribution across age cohorts, in Atqasuk, the median household income stands at $159,225 for householders within the 45 to 64 years age group, followed by $125,817 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $103,084..

How does the median household income for households led by individuals of median age compare in Atqasuk, AK?

The median age in Atqasuk is 23.6, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, within Atqasuk, the age group of Under 25 years had the second lowest median household income, recorded at $103,084.

References

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