Cheshire, Connecticut 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 Cheshire town population by age, the median age in Cheshire town is 45.4 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, within Cheshire town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $190,541.
In terms of income distribution across age cohorts, in Cheshire town, the median household income stands at $190,541 for householders within the 45 to 64 years age group, followed by $157,609 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 $74,763.
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 Cheshire town.
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 45 to 64 years age group demonstrated a remarkable increase of $19,680(11.52%), escalating from a median of $170,861 in 2011 to $190,541 in 2021. 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 $4,184(2.59%), declining from a median of $161,793 in 2011 to $157,609 in 2021.
Cheshire, Connecticut household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Cheshire 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 33(0.33%) households where the householder is under 25 years old, 2,076(20.95%) households with a householder aged between 25 and 44 years, 4,428(44.69%) households with a householder aged between 45 and 64 years, and 3,372(34.03%) households where the householder is over 65 years old.
In Cheshire town, 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.
Age-wise distribution of Cheshire town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Cheshire town: 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 | 52 | 196 | 77 |
| $10,000 - $14,999 | - | - | - | 114 |
| $15,000 - $19,999 | - | 20 | - | 83 |
| $20,000 - $24,999 | - | 27 | 61 | 105 |
| $25,000 - $29,999 | - | 8 | 3 | 69 |
| $30,000 - $34,999 | 13 | 63 | 32 | 78 |
| $35,000 - $39,999 | - | - | 31 | 258 |
| $40,000 - $44,999 | - | 78 | 59 | 118 |
| $45,000 - $49,999 | - | 22 | 71 | 65 |
| $50,000 - $59,999 | - | 67 | 98 | 450 |
| $60,000 - $74,999 | - | 100 | 221 | 358 |
| $75,000 - $99,999 | 12 | 205 | 392 | 313 |
| $100,000 - $124,999 | - | 179 | 277 | 306 |
| $125,000 - $149,999 | - | 307 | 349 | 277 |
| $150,000 - $199,999 | - | 435 | 810 | 290 |
| $200,000 or more | - | 513 | 1,828 | 411 |
To further explore the income distribution and gain insights into financial landscape of Cheshire town when compared to the state of Connecticut 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 36.36% of the households in Cheshire town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $88,429 for the state of Connecticut. These 12 Cheshire town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Cheshire town, among households headed by individuals aged 25 to 44, an impressive 78.95% match or surpass the state of Connecticut median income of $88,429. These 1,639 households, represent a significant portion of the total 2,076 households in Cheshire town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Cheshire town, within the age group of 45 to 64 years, a remarkable 82.57% of households meet or exceed the state of Connecticut median income of $88,429. These 3,656 households, out of the total 4,428 households in this age cohort, signify a substantial portion of mature demographic of Cheshire town, showcasing commendable financial stability in comparison to the Connecticut state median income benchmark.
- Householder 65 years and over: In Cheshire town, among the over 65 years age group, a noteworthy 47.36% of households either match or surpass the state of Connecticut median income of $88,429. These 1,597 households, constituting notable portion of the Cheshire town town senior population, showcase commendable financial stability compared to the Connecticut state median income benchmark.