Buena Vista Township, New Jersey Median Household Income By Age

Buena Vista Township, New Jersey 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 township population by age, the median age in Buena Vista township is 40 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 township, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $108,773.

In terms of income distribution across age cohorts, in Buena Vista township, the median household income stands at $108,773 for householders within the 25 to 44 years age group, followed by $99,398 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $53,099.

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 Buena Vista township.

FIGURE 1

Buena Vista Township, New Jersey median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Buena Vista 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. 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 25 to 44 years age group demonstrated a remarkable increase of $36,424(50.34%), escalating from a median of $72,349 in 2012 to $108,773 in 2022. 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 $1,562(1.55%), declining from a median of $100,960 in 2012 to $99,398 in 2022.

Buena Vista Township, New Jersey household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Buena Vista 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 193(6.90%) households where the householder is under 25 years old, 762(27.25%) households with a householder aged between 25 and 44 years, 1,012(36.19%) households with a householder aged between 45 and 64 years, and 829(29.65%) 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 township of Buena Vista township, showcasing varying income levels among different age demographics.

FIGURE 2

Buena Vista Township, New Jersey household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Buena Vista township: 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 Buena Vista township when compared to the state of New Jersey 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 only 15.03% of the households in Buena Vista township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $101,133 for the state of New Jersey. These 29 Buena Vista township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Buena Vista township, among households headed by individuals aged 25 to 44, an impressive 56.82% match or surpass the state of New Jersey median income of $101,133. These 433 households, represent a significant portion of the total 762 households in Buena Vista township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Buena Vista township, within the age group of 45 to 64 years, a noteworthy 37.55% of households meet or exceed the state of New Jersey median income of $101,133. These 380 households, out of the total 1,012 households in this age cohort, signify a notable portion of mature demographic of Buena Vista township, showcasing commendable financial stability in comparison to the New Jersey state median income benchmark.
• Householder 65 years and over: In Buena Vista township, among the over 65 years age group, only 9.17% of households either match or surpass the state of New Jersey median income of $101,133. These 76 households, constituting low portion of the Buena Vista township township senior population, showcase commendable financial stability compared to the New Jersey state median income benchmark.

Things to know

Which age group reports the highest median household income in Buena Vista Township, New Jersey?

In Buena Vista township, households led by individuals aged 25 to 44 years report the highest median household income of $108,773 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 Buena Vista Township, New Jersey?

In terms of income distribution across age cohorts, in Buena Vista township, the median household income stands at $108,773 for householders within the 25 to 44 years age group, followed by $99,398 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $53,099..

How does the median household income for households led by individuals of median age compare in Buena Vista Township, New Jersey?

The median age in Buena Vista township is 40, 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 township, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $108,773.

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