Centerville, New York Median Household Income By Age

Centerville, New York 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 Centerville town population by age, the median age in Centerville town is 18.6 years.

Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Centerville town. 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 Centerville town, the median household income stands at $69,913 for householders within the 45 to 64 years age group, followed by $65,404 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 $45,034.

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 Centerville town.

FIGURE 1

Centerville, New York median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Centerville town, 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, two 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 45 to 64 years age group demonstrated a remarkable increase of $2,954(4.41%), escalating from a median of $66,959 in 2012 to $69,913 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 $32,206(41.70%), declining from a median of $77,240 in 2012 to $45,034 in 2022.

Centerville, New York household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Centerville town 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 15(5.88%) households where the householder is under 25 years old, 99(38.82%) households with a householder aged between 25 and 44 years, 86(33.73%) households with a householder aged between 45 and 64 years, and 55(21.57%) households where the householder is over 65 years old.

The age group of 45 to 64 years exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the town of Centerville town, showcasing varying income levels among different age demographics.

FIGURE 2

Centerville, New York household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Centerville town: 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 Centerville town when compared to the state of New York 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 20% of the households in Centerville town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $84,743 for the state of New York. These 3 Centerville town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Centerville town, among households headed by individuals aged 25 to 44,worth noting that 46.46% match or surpass the state of New York median income of $84,743. These 46 households, represent a notable portion of the total 99 households in Centerville town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Centerville town, within the age group of 45 to 64 years, a noteworthy 46.51% of households meet or exceed the state of New York median income of $84,743. These 40 households, out of the total 86 households in this age cohort, signify a notable portion of mature demographic of Centerville town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
• Householder 65 years and over: In Centerville town, among the over 65 years age group, only 23.64% of households either match or surpass the state of New York median income of $84,743. These 13 households, constituting low portion of the Centerville town town senior population, showcase commendable financial stability compared to the New York state median income benchmark.

Things to know

Which age group reports the highest median household income in Centerville, New York?

In Centerville town, households led by individuals aged 45 to 64 years report the highest median household income of $69,913 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 Centerville, New York?

In terms of income distribution across age cohorts, in Centerville town, the median household income stands at $69,913 for householders within the 45 to 64 years age group, followed by $65,404 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 $45,034..

How does the median household income for households led by individuals of median age compare in Centerville, New York?

The median age in Centerville town is 18.6, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Centerville town. 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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