Center Hill, FL Median Household Income By Age

Center Hill, FL 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 Center Hill population by age, the median age in Center Hill 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 Center Hill, the age group of 25 to 44 years had the second lowest median household income, recorded at $53,148.

In terms of income distribution across age cohorts, in Center Hill, the median household income stands at $70,284 for householders within the 45 to 64 years age group, followed by $55,447 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $53,148.

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 Center Hill.

FIGURE 1

Center Hill, FL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Center 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 three age groups with available Census data in both 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $17,307(48.29%), escalating from a median of $35,841 in 2012 to $53,148 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $768(1.40%), increasing from a median of $54,679 in 2012 to $55,447 in 2022.

Center Hill, FL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Center 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 3(0.80%) households where the householder is under 25 years old, 123(32.63%) households with a householder aged between 25 and 44 years, 166(44.03%) households with a householder aged between 45 and 64 years, and 85(22.55%) households where the householder is over 65 years old.

In Center Hill, 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

Center Hill, FL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Center 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 Center Hill when compared to the state of Florida 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 Center Hill, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $70,719 for the state of Florida. These 3 Center Hill households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Center Hill, among households headed by individuals aged 25 to 44,worth noting that 38.21% match or surpass the state of Florida median income of $70,719. These 47 households, represent a notable portion of the total 123 households in Center Hill within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Center Hill, within the age group of 45 to 64 years, a remarkable 65.06% of households meet or exceed the state of Florida median income of $70,719. These 108 households, out of the total 166 households in this age cohort, signify a substantial portion of mature demographic of Center Hill, showcasing commendable financial stability in comparison to the Florida state median income benchmark.
• Householder 65 years and over: In Center Hill, among the over 65 years age group, a noteworthy 31.76% of households either match or surpass the state of Florida median income of $70,719. These 27 households, constituting notable portion of the Center Hill city senior population, showcase commendable financial stability compared to the Florida state median income benchmark.

Things to know

Which age group reports the highest median household income in Center Hill, FL?

In Center Hill, households led by individuals aged 45 to 64 years report the highest median household income of $70,284 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 Center Hill, FL?

In terms of income distribution across age cohorts, in Center Hill, the median household income stands at $70,284 for householders within the 45 to 64 years age group, followed by $55,447 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $53,148..

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

The median age in Center Hill 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 Center Hill, the age group of 25 to 44 years had the second lowest median household income, recorded at $53,148.

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