Median Household Income by Age of Householder in Big Cabin, OK (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Big Cabin. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Big Cabin.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $69,000 |
| 25 to 44 years | $45,833 |
| 45 to 64 years | $58,750 |
| 65 years and over | - |
TABLE OF CONTENTS
Big Cabin, OK 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 Big Cabin population by age, the median age in Big Cabin is 30.2 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 Big Cabin, the age group of 25 to 44 years had the second lowest median household income, recorded at $45,833.
In terms of income distribution across age cohorts, in Big Cabin, the median household income stands at $69,000 for householders within the under 25 years age group, followed by $58,750 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 $45,833.
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 Big Cabin.
FIGURE 1
Big Cabin, OK median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Big Cabin, 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 2013 and 2023, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $20,159(52.24%), escalating from a median of $38,591 in 2013 to $58,750 in 2023. 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 $19,854(30.23%), declining from a median of $65,687 in 2013 to $45,833 in 2023.
Big Cabin, OK household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Big Cabin 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 10(15.15%) households where the householder is under 25 years old, 12(18.18%) households with a householder aged between 25 and 44 years, 23(34.85%) households with a householder aged between 45 and 64 years, and 21(31.82%) households where the householder is over 65 years old.
The age group of under 25 years exhibits the highest median household income, while the largest number of households falls within the 45 to 64 years bracket. This distribution hints at economic disparities within the town of Big Cabin, showcasing varying income levels among different age demographics.
FIGURE 2
Big Cabin, OK household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Big Cabin: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Big Cabin household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Big Cabin: 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 | - | - | 3 | 2 |
| $10,000 - $14,999 | - | - | - | 3 |
| $15,000 - $19,999 | - | - | - | 2 |
| $20,000 - $24,999 | - | - | 1 | 1 |
| $25,000 - $29,999 | 2 | 1 | - | - |
| $30,000 - $34,999 | - | - | 2 | 1 |
| $35,000 - $39,999 | - | 2 | 2 | 1 |
| $40,000 - $44,999 | - | 2 | 2 | - |
| $45,000 - $49,999 | - | 3 | - | - |
| $50,000 - $59,999 | - | - | 2 | - |
| $60,000 - $74,999 | 5 | - | - | 2 |
| $75,000 - $99,999 | 3 | 2 | 4 | 4 |
| $100,000 - $124,999 | - | 1 | 4 | - |
| $125,000 - $149,999 | - | 1 | - | 3 |
| $150,000 - $199,999 | - | - | 3 | - |
| $200,000 or more | - | - | - | 2 |
To further explore the income distribution and gain insights into financial landscape of Big Cabin when compared to the state of Oklahoma 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 80% of the households in Big Cabin, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $63,603 for the state of Oklahoma. These 8 Big Cabin households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Big Cabin, among households headed by individuals aged 25 to 44,worth noting that 33.33% match or surpass the state of Oklahoma median income of $63,603. These 4 households, represent a notable portion of the total 12 households in Big Cabin within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Big Cabin, within the age group of 45 to 64 years, a noteworthy 47.83% of households meet or exceed the state of Oklahoma median income of $63,603. These 11 households, out of the total 23 households in this age cohort, signify a notable portion of mature demographic of Big Cabin, showcasing commendable financial stability in comparison to the Oklahoma state median income benchmark.
- Householder 65 years and over: In Big Cabin, among the over 65 years age group, an impressive 52.38% of households either match or surpass the state of Oklahoma median income of $63,603. These 11 households, constituting a significant portion of the Big Cabin town senior population, showcase commendable financial stability compared to the Oklahoma state median income benchmark.
Things to know
Which age group reports the highest median household income in Big Cabin, OK?
In Big Cabin, households led by individuals aged under 25 years report the highest median household income of $69,000 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Big Cabin, OK?
In terms of income distribution across age cohorts, in Big Cabin, the median household income stands at $69,000 for householders within the under 25 years age group, followed by $58,750 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 $45,833..
How does the median household income for households led by individuals of median age compare in Big Cabin, OK?
The median age in Big Cabin is 30.2, 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 Big Cabin, the age group of 25 to 44 years had the second lowest median household income, recorded at $45,833.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)