Median Household Income by Age of Householder in Buena Vista, CO (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Buena Vista. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Buena Vista.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $57,699 |
45 to 64 years | $36,325 |
65 years and over | - |
TABLE OF CONTENTS
Buena Vista, CO 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 Buena Vista population by age, the median age in Buena Vista is 38.5 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 Buena Vista, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $57,699.
In terms of income distribution across age cohorts, in Buena Vista, where there exist only two delineated age groups, the median household income is $57,699 for householders within the 25 to 44 years age group, compared to $36,325 for the 45 to 64 years 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 Buena Vista.
![Buena Vista, CO median household income by age of householder The bar chart shows Buena Vista, CO median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).](https://i.neilsberg.com/ch/buena-vista-co-median-household-income-by-age.jpeg)
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 2011 and 2021, none had an increase in this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $2,608(4.32%), declining from a median of $60,307 in 2011 to $57,699 in 2021. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $28,111(43.63%), declining from a median of $64,436 in 2011 to $36,325 in 2021.
Buena Vista, CO household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Buena Vista 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 55(4.32%) households where the householder is under 25 years old, 324(25.45%) households with a householder aged between 25 and 44 years, 651(51.14%) households with a householder aged between 45 and 64 years, and 243(19.09%) households where the householder is over 65 years old.
The age group of 25 to 44 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 Buena Vista, showcasing varying income levels among different age demographics.
![>Buena Vista, CO household income distribution across age groups The bar chart displays the distribution of household income in Buena Vista, CO across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.](https://i.neilsberg.com/ch/buena-vista-co-household-income-by-age-groups.jpeg)
Age-wise distribution of Buena Vista household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Buena Vista: 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 | - | - | 117 | - |
$10,000 - $14,999 | - | - | - | 123 |
$15,000 - $19,999 | - | - | - | 1 |
$20,000 - $24,999 | - | - | - | 16 |
$25,000 - $29,999 | - | - | 197 | - |
$30,000 - $34,999 | - | 93 | 26 | - |
$35,000 - $39,999 | - | - | 78 | - |
$40,000 - $44,999 | - | - | - | - |
$45,000 - $49,999 | - | - | - | 51 |
$50,000 - $59,999 | - | 169 | 79 | - |
$60,000 - $74,999 | - | 48 | 29 | 17 |
$75,000 - $99,999 | - | 14 | 72 | 35 |
$100,000 - $124,999 | - | - | - | - |
$125,000 - $149,999 | 55 | - | - | - |
$150,000 - $199,999 | - | - | 53 | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Buena Vista when compared to the state of Colorado 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 100% of the households in Buena Vista, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $89,302 for the state of Colorado. These 55 Buena Vista households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Buena Vista, among households headed by individuals aged 25 to 44,noteworthy that only 4.32% match or surpass the state of Colorado median income of $89,302. These 14 households, represent a low portion of the total 324 households in Buena Vista within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Buena Vista, within the age group of 45 to 64 years, only 19.20% of households meet or exceed the state of Colorado median income of $89,302. These 125 households, out of the total 651 households in this age cohort, signify a low portion of mature demographic of Buena Vista, showcasing commendable financial stability in comparison to the Colorado state median income benchmark.
- Householder 65 years and over: In Buena Vista, among the over 65 years age group, only 14.40% of households either match or surpass the state of Colorado median income of $89,302. These 35 households, constituting low portion of the Buena Vista town senior population, showcase commendable financial stability compared to the Colorado state median income benchmark.
Things to know
Which age group reports the highest median household income in Buena Vista, CO?
In Buena Vista, households led by individuals aged 25 to 44 years report the highest median household income of $57,699 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 Buena Vista, CO?
In terms of income distribution across age cohorts, in Buena Vista, where there exist only two delineated age groups, the median household income is $57,699 for householders within the 25 to 44 years age group, compared to $36,325 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Buena Vista, CO?
The median age in Buena Vista is 38.5, 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 Buena Vista, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $57,699.
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)