Cool Valley, MO Median Household Income By Age

Cool Valley, MO 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 Cool Valley population by age, the median age in Cool Valley is 27.3 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, within Cool Valley, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $50,184.

In terms of income distribution across age cohorts, in Cool Valley, the median household income stands at $60,500 for householders within the 45 to 64 years age group, followed by $50,184 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 $48,490.

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 Cool Valley.

FIGURE 1

Cool Valley, MO median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Cool Valley, 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 2013 and 2023, 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 65 years and over age group demonstrated a remarkable increase of $20,179(71.28%), escalating from a median of $28,311 in 2013 to $48,490 in 2023. 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 $9,704(13.82%), declining from a median of $70,204 in 2013 to $60,500 in 2023.

Cool Valley, MO household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Cool Valley 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 0 households where the householder is under 25 years old, 137(31.42%) households with a householder aged between 25 and 44 years, 152(34.86%) households with a householder aged between 45 and 64 years, and 147(33.72%) households where the householder is over 65 years old.

In Cool Valley, 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

Cool Valley, MO household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Cool Valley: 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 Cool Valley when compared to the state of Missouri 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: In Cool Valley, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
• Householder 25 to 44 years: In Cool Valley, among households headed by individuals aged 25 to 44,noteworthy that only 22.63% match or surpass the state of Missouri median income of $68,920. These 31 households, represent a low portion of the total 137 households in Cool Valley within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Cool Valley, within the age group of 45 to 64 years, a remarkable 50.66% of households meet or exceed the state of Missouri median income of $68,920. These 77 households, out of the total 152 households in this age cohort, signify a substantial portion of mature demographic of Cool Valley, showcasing commendable financial stability in comparison to the Missouri state median income benchmark.
• Householder 65 years and over: In Cool Valley, among the over 65 years age group, a noteworthy 40.14% of households either match or surpass the state of Missouri median income of $68,920. These 59 households, constituting notable portion of the Cool Valley city senior population, showcase commendable financial stability compared to the Missouri state median income benchmark.

Things to know

Which age group reports the highest median household income in Cool Valley, MO?

In Cool Valley, households led by individuals aged 45 to 64 years report the highest median household income of $60,500 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.

How does the median household income vary by age in Cool Valley, MO?

In terms of income distribution across age cohorts, in Cool Valley, the median household income stands at $60,500 for householders within the 45 to 64 years age group, followed by $50,184 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 $48,490..

How does the median household income for households led by individuals of median age compare in Cool Valley, MO?

The median age in Cool Valley is 27.3, which falls within the 25 to 44 years range among the four age groups defined by the US Census Bureau. This demographic suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Cool Valley, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $50,184.

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