Median Household Income by Age of Householder in Biscoe, NC (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Biscoe. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Biscoe.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | $51,850 |
25 to 44 years | - |
45 to 64 years | - |
65 years and over | $42,650 |
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Biscoe, NC 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 Biscoe population by age, the median age in Biscoe is 22.2 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 Biscoe, the age group of Under 25 years also exhibits the highest median household income, recorded at $51,850.
In terms of income distribution across age cohorts, in Biscoe, where there exist only two delineated age groups, the median household income is $51,850 for householders within the under 25 years age group, compared to $42,650 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 town of Biscoe.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $13,775(47.71%), escalating from a median of $28,875 in 2011 to $42,650 in 2021. 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 $13,775(47.71%), increasing from a median of $28,875 in 2011 to $42,650 in 2021.
Biscoe, NC household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Biscoe 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 126(16.05%) households where the householder is under 25 years old, 193(24.59%) households with a householder aged between 25 and 44 years, 239(30.45%) households with a householder aged between 45 and 64 years, and 227(28.92%) 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 Biscoe, showcasing varying income levels among different age demographics.
Age-wise distribution of Biscoe household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Biscoe: 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 | 8 | 28 | 7 | 8 |
$10,000 - $14,999 | - | 62 | 32 | 18 |
$15,000 - $19,999 | - | - | 5 | 16 |
$20,000 - $24,999 | - | - | - | 3 |
$25,000 - $29,999 | - | - | 70 | 4 |
$30,000 - $34,999 | - | 43 | - | 5 |
$35,000 - $39,999 | - | - | - | 76 |
$40,000 - $44,999 | 52 | 16 | - | - |
$45,000 - $49,999 | 16 | 4 | 4 | 12 |
$50,000 - $59,999 | - | 8 | - | 6 |
$60,000 - $74,999 | 27 | 22 | 18 | - |
$75,000 - $99,999 | 23 | 10 | 71 | 69 |
$100,000 - $124,999 | - | - | 8 | 7 |
$125,000 - $149,999 | - | - | 21 | - |
$150,000 - $199,999 | - | - | 3 | 3 |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Biscoe when compared to the state of North Carolina 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 worth noting that 39.68% of the households in Biscoe, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $67,481 for the state of North Carolina. These 50 Biscoe households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Biscoe, among households headed by individuals aged 25 to 44,noteworthy that only 16.58% match or surpass the state of North Carolina median income of $67,481. These 32 households, represent a low portion of the total 193 households in Biscoe within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Biscoe, within the age group of 45 to 64 years, a remarkable 50.63% of households meet or exceed the state of North Carolina median income of $67,481. These 121 households, out of the total 239 households in this age cohort, signify a substantial portion of mature demographic of Biscoe, showcasing commendable financial stability in comparison to the North Carolina state median income benchmark.
- Householder 65 years and over: In Biscoe, among the over 65 years age group, a noteworthy 34.80% of households either match or surpass the state of North Carolina median income of $67,481. These 79 households, constituting notable portion of the Biscoe town senior population, showcase commendable financial stability compared to the North Carolina state median income benchmark.
Things to know
Which age group reports the highest median household income in Biscoe, NC?
In Biscoe, households led by individuals aged under 25 years report the highest median household income of $51,850 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 Biscoe, NC?
In terms of income distribution across age cohorts, in Biscoe, where there exist only two delineated age groups, the median household income is $51,850 for householders within the under 25 years age group, compared to $42,650 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Biscoe, NC?
The median age in Biscoe is 22.2, 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 Biscoe, the age group of Under 25 years also exhibits the highest median household income, recorded at $51,850.
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)