Median Household Income by Age of Householder in Collegeville, PA (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Collegeville. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Collegeville.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $120,004 |
| 45 to 64 years | $199,096 |
| 65 years and over | $47,478 |
TABLE OF CONTENTS
Collegeville, PA 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 Collegeville population by age, the median age in Collegeville is 24.4 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 Collegeville. 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 Collegeville, the median household income stands at $199,096 for householders within the 45 to 64 years age group, followed by $120,004 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 $47,478.
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 borough of Collegeville.
FIGURE 1
Collegeville, PA median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Collegeville, 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 $25,724(14.84%), escalating from a median of $173,372 in 2012 to $199,096 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 $50,877(51.73%), declining from a median of $98,355 in 2012 to $47,478 in 2022.
Collegeville, PA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Collegeville 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 24(1.57%) households where the householder is under 25 years old, 402(26.22%) households with a householder aged between 25 and 44 years, 649(42.34%) households with a householder aged between 45 and 64 years, and 458(29.88%) households where the householder is over 65 years old.
In Collegeville, 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
Collegeville, PA household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Collegeville: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Collegeville household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Collegeville: 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 | - | 67 | - | 11 |
| $10,000 - $14,999 | - | - | - | 18 |
| $15,000 - $19,999 | - | 8 | - | 10 |
| $20,000 - $24,999 | - | - | - | 18 |
| $25,000 - $29,999 | - | - | - | 31 |
| $30,000 - $34,999 | - | - | 28 | - |
| $35,000 - $39,999 | - | 10 | - | 65 |
| $40,000 - $44,999 | - | - | - | 49 |
| $45,000 - $49,999 | - | - | 7 | 121 |
| $50,000 - $59,999 | 10 | - | - | 53 |
| $60,000 - $74,999 | 14 | 12 | 57 | 11 |
| $75,000 - $99,999 | - | 103 | 47 | 20 |
| $100,000 - $124,999 | - | 19 | 59 | 10 |
| $125,000 - $149,999 | - | 21 | 38 | 9 |
| $150,000 - $199,999 | - | 86 | 119 | 14 |
| $200,000 or more | - | 76 | 294 | 18 |
To further explore the income distribution and gain insights into financial landscape of Collegeville when compared to the state of Pennsylvania 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 Collegeville, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $76,188 for the state of Pennsylvania. 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 Collegeville, among households headed by individuals aged 25 to 44, an impressive 75.87% match or surpass the state of Pennsylvania median income of $76,188. These 305 households, represent a significant portion of the total 402 households in Collegeville within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Collegeville, within the age group of 45 to 64 years, a remarkable 85.82% of households meet or exceed the state of Pennsylvania median income of $76,188. These 557 households, out of the total 649 households in this age cohort, signify a substantial portion of mature demographic of Collegeville, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Collegeville, among the over 65 years age group, only 15.50% of households either match or surpass the state of Pennsylvania median income of $76,188. These 71 households, constituting low portion of the Collegeville borough senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in Collegeville, PA?
In Collegeville, households led by individuals aged 45 to 64 years report the highest median household income of $199,096 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 Collegeville, PA?
In terms of income distribution across age cohorts, in Collegeville, the median household income stands at $199,096 for householders within the 45 to 64 years age group, followed by $120,004 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 $47,478..
How does the median household income for households led by individuals of median age compare in Collegeville, PA?
The median age in Collegeville is 24.4, 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 Collegeville. 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.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)