Barrett Township, Pennsylvania Median Household Income By Age

Barrett Township, 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 Barrett township population by age, the median age in Barrett township is 42.7 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Barrett township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.

In terms of income distribution across age cohorts, in Barrett township, where there exist only two delineated age groups, the median household income is $98,744 for householders within the 45 to 64 years age group, compared to $44,789 for the 65 years and over 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 township of Barrett township.

FIGURE 1

Barrett Township, Pennsylvania median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Barrett 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 two age groups with available Census data in both 2012 and 2022, none had an increase in this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $1,969(1.96%), declining from a median of $100,713 in 2012 to $98,744 in 2022. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $3,584(7.41%), declining from a median of $48,373 in 2012 to $44,789 in 2022.

Barrett Township, Pennsylvania household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Barrett 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 79(4.83%) households where the householder is under 25 years old, 494(30.21%) households with a householder aged between 25 and 44 years, 599(36.64%) households with a householder aged between 45 and 64 years, and 463(28.32%) households where the householder is over 65 years old.

In Barrett 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

Barrett Township, Pennsylvania household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Barrett 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 Barrett 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 93.67% of the households in Barrett 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 74 Barrett township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Barrett township, among households headed by individuals aged 25 to 44, an impressive 68.02% match or surpass the state of Pennsylvania median income of $76,188. These 336 households, represent a significant portion of the total 494 households in Barrett township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Barrett township, within the age group of 45 to 64 years, a remarkable 69.78% of households meet or exceed the state of Pennsylvania median income of $76,188. These 418 households, out of the total 599 households in this age cohort, signify a substantial portion of mature demographic of Barrett township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
• Householder 65 years and over: In Barrett township, among the over 65 years age group, a noteworthy 30.24% of households either match or surpass the state of Pennsylvania median income of $76,188. These 140 households, constituting notable portion of the Barrett 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 Barrett Township, Pennsylvania?

In Barrett township, households led by individuals aged 45 to 64 years report the highest median household income of $98,744 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 Barrett Township, Pennsylvania?

In terms of income distribution across age cohorts, in Barrett township, where there exist only two delineated age groups, the median household income is $98,744 for householders within the 45 to 64 years age group, compared to $44,789 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Barrett Township, Pennsylvania?

The median age in Barrett township is 42.7, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Barrett township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.

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