Centreville, IL 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 Centreville population by age, the median age in Centreville is 43.6 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Centreville. 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 Centreville, the median household income stands at $26,707 for householders within the 45 to 64 years age group, followed by $26,416 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $25,835.
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 Centreville.
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 2011 and 2021, 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 Under 25 years age group demonstrated a remarkable increase of $10,748(71.24%), escalating from a median of $15,087 in 2011 to $25,835 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 $22,017(45.19%), declining from a median of $48,724 in 2011 to $26,707 in 2021.
Centreville, IL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Centreville 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 113(5.85%) households where the householder is under 25 years old, 435(22.53%) households with a householder aged between 25 and 44 years, 545(28.22%) households with a householder aged between 45 and 64 years, and 838(43.40%) 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 65 years and over bracket. This distribution hints at economic disparities within the city of Centreville, showcasing varying income levels among different age demographics.
Age-wise distribution of Centreville household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Centreville: 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 | 8 | 138 | 108 | 56 |
| $10,000 - $14,999 | - | 45 | 24 | 84 |
| $15,000 - $19,999 | 16 | 26 | 102 | 93 |
| $20,000 - $24,999 | 58 | 54 | 42 | 230 |
| $25,000 - $29,999 | 23 | 7 | - | 71 |
| $30,000 - $34,999 | - | - | 54 | 55 |
| $35,000 - $39,999 | - | - | - | 13 |
| $40,000 - $44,999 | - | - | 33 | 15 |
| $45,000 - $49,999 | 8 | - | - | 33 |
| $50,000 - $59,999 | - | - | 54 | 50 |
| $60,000 - $74,999 | - | 108 | 36 | 12 |
| $75,000 - $99,999 | - | 27 | 9 | 69 |
| $100,000 - $124,999 | - | 30 | 40 | - |
| $125,000 - $149,999 | - | - | 33 | 16 |
| $150,000 - $199,999 | - | - | - | 41 |
| $200,000 or more | - | - | 10 | - |
To further explore the income distribution and gain insights into financial landscape of Centreville when compared to the state of Illinois 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 no households in Centreville, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $76,708 for the state of Illinois. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Centreville, among households headed by individuals aged 25 to 44,noteworthy that only 13.10% match or surpass the state of Illinois median income of $76,708. These 57 households, represent a low portion of the total 435 households in Centreville within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Centreville, within the age group of 45 to 64 years, only 16.88% of households meet or exceed the state of Illinois median income of $76,708. These 92 households, out of the total 545 households in this age cohort, signify a low portion of mature demographic of Centreville, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
- Householder 65 years and over: In Centreville, among the over 65 years age group, only 15.04% of households either match or surpass the state of Illinois median income of $76,708. These 126 households, constituting low portion of the Centreville city senior population, showcase commendable financial stability compared to the Illinois state median income benchmark.