Carbon Hill, AL Median Household Income By Age

Carbon Hill, AL 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 Carbon Hill population by age, the median age in Carbon Hill is 45.1 years.

Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Carbon Hill. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.

In terms of income distribution across age cohorts, in Carbon Hill, where there exist only two delineated age groups, the median household income is $43,789 for householders within the 25 to 44 years age group, compared to $23,602 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 city of Carbon Hill.

FIGURE 1

Carbon Hill, AL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Carbon Hill, 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 two age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $14,497(49.49%), escalating from a median of $29,292 in 2012 to $43,789 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 $3,011(11.31%), declining from a median of $26,613 in 2012 to $23,602 in 2022.

Carbon Hill, AL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Carbon Hill 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 21(3.42%) households where the householder is under 25 years old, 131(21.34%) households with a householder aged between 25 and 44 years, 224(36.48%) households with a householder aged between 45 and 64 years, and 238(38.76%) 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 65 years and over bracket. This distribution hints at economic disparities within the city of Carbon Hill, showcasing varying income levels among different age demographics.

FIGURE 2

Carbon Hill, AL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Carbon Hill: 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 Carbon Hill when compared to the state of Alabama 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 47.62% of the households in Carbon Hill, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $62,068 for the state of Alabama. These 10 Carbon Hill households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Carbon Hill, among households headed by individuals aged 25 to 44,worth noting that 27.48% match or surpass the state of Alabama median income of $62,068. These 36 households, represent a notable portion of the total 131 households in Carbon Hill within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Carbon Hill, within the age group of 45 to 64 years, a noteworthy 42.41% of households meet or exceed the state of Alabama median income of $62,068. These 95 households, out of the total 224 households in this age cohort, signify a notable portion of mature demographic of Carbon Hill, showcasing commendable financial stability in comparison to the Alabama state median income benchmark.
• Householder 65 years and over: In Carbon Hill, among the over 65 years age group, only 17.23% of households either match or surpass the state of Alabama median income of $62,068. These 41 households, constituting low portion of the Carbon Hill city senior population, showcase commendable financial stability compared to the Alabama state median income benchmark.

Things to know

Which age group reports the highest median household income in Carbon Hill, AL?

In Carbon Hill, households led by individuals aged 25 to 44 years report the highest median household income of $43,789 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 Carbon Hill, AL?

In terms of income distribution across age cohorts, in Carbon Hill, where there exist only two delineated age groups, the median household income is $43,789 for householders within the 25 to 44 years age group, compared to $23,602 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Carbon Hill, AL?

The median age in Carbon Hill is 45.1, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Carbon Hill. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.

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