Cherokee Village, AR Median Household Income By Age

Cherokee Village, AR 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 Cherokee Village population by age, the median age in Cherokee Village is 49 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 Cherokee Village. 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 Cherokee Village, where there exist only two delineated age groups, the median household income is $60,108 for householders within the 25 to 44 years age group, compared to $35,727 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 Cherokee Village.

FIGURE 1

Cherokee Village, AR median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Cherokee Village, 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, none had an increase in this time period. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $7,651(17.64%), declining from a median of $43,378 in 2012 to $35,727 in 2022. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $18,930(23.95%), declining from a median of $79,038 in 2012 to $60,108 in 2022.

Cherokee Village, AR household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Cherokee Village 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 50(2.40%) households where the householder is under 25 years old, 448(21.51%) households with a householder aged between 25 and 44 years, 710(34.09%) households with a householder aged between 45 and 64 years, and 875(42.01%) 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 Cherokee Village, showcasing varying income levels among different age demographics.

FIGURE 2

Cherokee Village, AR household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Cherokee Village: 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 Cherokee Village when compared to the state of Arkansas 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 Cherokee Village, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $58,659 for the state of Arkansas. 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 Cherokee Village, among households headed by individuals aged 25 to 44, an impressive 50.22% match or surpass the state of Arkansas median income of $58,659. These 225 households, represent a significant portion of the total 448 households in Cherokee Village within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Cherokee Village, within the age group of 45 to 64 years, a noteworthy 46.48% of households meet or exceed the state of Arkansas median income of $58,659. These 330 households, out of the total 710 households in this age cohort, signify a notable portion of mature demographic of Cherokee Village, showcasing commendable financial stability in comparison to the Arkansas state median income benchmark.
• Householder 65 years and over: In Cherokee Village, among the over 65 years age group, a noteworthy 37.60% of households either match or surpass the state of Arkansas median income of $58,659. These 329 households, constituting notable portion of the Cherokee Village city senior population, showcase commendable financial stability compared to the Arkansas state median income benchmark.

Things to know

Which age group reports the highest median household income in Cherokee Village, AR?

In Cherokee Village, households led by individuals aged 25 to 44 years report the highest median household income of $60,108 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 Cherokee Village, AR?

In terms of income distribution across age cohorts, in Cherokee Village, where there exist only two delineated age groups, the median household income is $60,108 for householders within the 25 to 44 years age group, compared to $35,727 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Cherokee Village, AR?

The median age in Cherokee Village is 49, 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 Cherokee Village. 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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