Median Household Income by Age of Householder in Bois Blanc Township, Michigan (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Bois Blanc township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Bois Blanc township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | - |
| 45 to 64 years | - |
| 65 years and over | $63,777 |
TABLE OF CONTENTS
Bois Blanc Township, Michigan 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 Bois Blanc township population by age, the median age in Bois Blanc township is 66.5 years.
Typically for a location with median age in this range, it suggests a significant population of retirees or older individuals. Interestingly, within Bois Blanc township, the age group of 65 years and over also exhibits the highest median household income, recorded at $63,777.
In terms of income distribution across age cohorts, Bois Blanc township only reports a median household income of $63,777 among householders in 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 Bois Blanc township.
FIGURE 1
Bois Blanc Township, Michigan median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Bois Blanc 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. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $7,906(11.03%), declining from a median of $71,683 in 2012 to $63,777 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 $7,906(11.03%), declining from a median of $71,683 in 2012 to $63,777 in 2022.
Bois Blanc Township, Michigan household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Bois Blanc 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 0 households where the householder is under 25 years old, 4(18.18%) households with a householder aged between 25 and 44 years, 3(13.64%) households with a householder aged between 45 and 64 years, and 15(68.18%) households where the householder is over 65 years old.
In Bois Blanc township, the age group of 65 years and over 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
Bois Blanc Township, Michigan household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Bois Blanc township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Bois Blanc township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Bois Blanc township: 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 | - | - | - | - |
| $10,000 - $14,999 | - | - | - | - |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | - | - |
| $25,000 - $29,999 | - | - | - | 4 |
| $30,000 - $34,999 | - | - | - | 2 |
| $35,000 - $39,999 | - | - | - | - |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | - | - |
| $50,000 - $59,999 | - | - | - | - |
| $60,000 - $74,999 | - | - | - | 6 |
| $75,000 - $99,999 | - | 2 | 1 | 1 |
| $100,000 - $124,999 | - | - | - | - |
| $125,000 - $149,999 | - | 2 | - | - |
| $150,000 - $199,999 | - | - | 2 | - |
| $200,000 or more | - | - | - | 2 |
To further explore the income distribution and gain insights into financial landscape of Bois Blanc township when compared to the state of Michigan 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: In Bois Blanc township, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
- Householder 25 to 44 years: In Bois Blanc township, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of Michigan median income of $71,331. These 4 households, represent a significant portion of the total 4 households in Bois Blanc township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Bois Blanc township, within the age group of 45 to 64 years, a remarkable 100% of households meet or exceed the state of Michigan median income of $71,331. These 3 households, out of the total 3 households in this age cohort, signify a substantial portion of mature demographic of Bois Blanc township, showcasing commendable financial stability in comparison to the Michigan state median income benchmark.
- Householder 65 years and over: In Bois Blanc township, among the over 65 years age group, an impressive 60% of households either match or surpass the state of Michigan median income of $71,331. These 9 households, constituting a significant portion of the Bois Blanc township township senior population, showcase commendable financial stability compared to the Michigan state median income benchmark.
Things to know
Which age group reports the highest median household income in Bois Blanc Township, Michigan?
In Bois Blanc township, households led by individuals aged 65 years and over report the highest median household income of $63,777 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 Bois Blanc Township, Michigan?
In terms of income distribution across age cohorts, Bois Blanc township only reports a median household income of $63,777 among householders in the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Bois Blanc Township, Michigan?
The median age in Bois Blanc township is 66.5, which falls within the 65 years and over range among the four age groups defined by the US Census Bureau. This demographic suggests a significant population of retirees or older individuals. Interestingly, within Bois Blanc township, the age group of 65 years and over also exhibits the highest median household income, recorded at $63,777.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)