Browns Valley, MN Median Household Income By Age

Browns Valley, MN 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 Browns Valley population by age, the median age in Browns Valley is 39.6 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 Browns Valley, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $45,989.

In terms of income distribution across age cohorts, in Browns Valley, the median household income stands at $66,266 for householders within the 45 to 64 years age group, followed by $45,989 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $43,278.

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 Browns Valley.

FIGURE 1

Browns Valley, MN median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Browns Valley, 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 three age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $31,814(92.34%), escalating from a median of $34,452 in 2012 to $66,266 in 2022. 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 $28,528(38.28%), declining from a median of $74,517 in 2012 to $45,989 in 2022.

Browns Valley, MN household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Browns Valley 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 19(10.05%) households where the householder is under 25 years old, 68(35.98%) households with a householder aged between 25 and 44 years, 79(41.80%) households with a householder aged between 45 and 64 years, and 23(12.17%) households where the householder is over 65 years old.

In Browns Valley, 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

Browns Valley, MN household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Browns Valley: 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 Browns Valley when compared to the state of Minnesota 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 noteworthy that no households in Browns Valley, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $87,791 for the state of Minnesota. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
• Householder 25 to 44 years: In Browns Valley, among households headed by individuals aged 25 to 44,noteworthy that only 11.76% match or surpass the state of Minnesota median income of $87,791. These 8 households, represent a low portion of the total 68 households in Browns Valley within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Browns Valley, within the age group of 45 to 64 years, only 27.85% of households meet or exceed the state of Minnesota median income of $87,791. These 22 households, out of the total 79 households in this age cohort, signify a low portion of mature demographic of Browns Valley, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
• Householder 65 years and over: In Browns Valley, among the over 65 years age group, only 13.04% of households either match or surpass the state of Minnesota median income of $87,791. These 3 households, constituting low portion of the Browns Valley city senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.

Things to know

Which age group reports the highest median household income in Browns Valley, MN?

In Browns Valley, households led by individuals aged 45 to 64 years report the highest median household income of $66,266 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 Browns Valley, MN?

In terms of income distribution across age cohorts, in Browns Valley, the median household income stands at $66,266 for householders within the 45 to 64 years age group, followed by $45,989 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $43,278..

How does the median household income for households led by individuals of median age compare in Browns Valley, MN?

The median age in Browns Valley is 39.6, 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 Browns Valley, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $45,989.

References

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