Median Household Income by Age of Householder in Cooper, Maine (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Cooper town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Cooper town.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | - |
| 45 to 64 years | - |
| 65 years and over | $36,444 |
TABLE OF CONTENTS
Cooper, Maine 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 Cooper town population by age, the median age in Cooper town is 51.3 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 Cooper town. 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, Cooper town only reports a median household income of $36,444 among householders in 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 town of Cooper town.
FIGURE 1
Cooper, Maine median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Cooper town, 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. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $18,568(33.75%), declining from a median of $55,012 in 2012 to $36,444 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 $18,568(33.75%), declining from a median of $55,012 in 2012 to $36,444 in 2022.
Cooper, Maine household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Cooper 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 0 households where the householder is under 25 years old, 30(36.59%) households with a householder aged between 25 and 44 years, 26(31.71%) households with a householder aged between 45 and 64 years, and 26(31.71%) households where the householder is over 65 years old.
The age group of 65 years and over exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the town of Cooper town, showcasing varying income levels among different age demographics.
FIGURE 2
Cooper, Maine household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Cooper town: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Cooper town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Cooper 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 | - | - | - | 1 |
| $10,000 - $14,999 | - | 8 | 1 | - |
| $15,000 - $19,999 | - | - | - | 5 |
| $20,000 - $24,999 | - | - | - | 4 |
| $25,000 - $29,999 | - | 5 | 1 | 2 |
| $30,000 - $34,999 | - | - | - | 1 |
| $35,000 - $39,999 | - | 2 | 2 | 1 |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | 9 | 1 |
| $50,000 - $59,999 | - | - | 1 | 4 |
| $60,000 - $74,999 | - | 4 | - | 3 |
| $75,000 - $99,999 | - | - | 2 | - |
| $100,000 - $124,999 | - | 8 | - | 4 |
| $125,000 - $149,999 | - | - | 9 | - |
| $150,000 - $199,999 | - | 3 | 1 | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Cooper town when compared to the state of Maine 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 Cooper town, 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 Cooper town, among households headed by individuals aged 25 to 44,worth noting that 50% match or surpass the state of Maine median income of $71,066. These 15 households, represent a notable portion of the total 30 households in Cooper town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Cooper town, within the age group of 45 to 64 years, a noteworthy 46.15% of households meet or exceed the state of Maine median income of $71,066. These 12 households, out of the total 26 households in this age cohort, signify a notable portion of mature demographic of Cooper town, showcasing commendable financial stability in comparison to the Maine state median income benchmark.
- Householder 65 years and over: In Cooper town, among the over 65 years age group, a noteworthy 26.92% of households either match or surpass the state of Maine median income of $71,066. These 7 households, constituting notable portion of the Cooper town town senior population, showcase commendable financial stability compared to the Maine state median income benchmark.
Things to know
Which age group reports the highest median household income in Cooper, Maine?
In Cooper town, households led by individuals aged 65 years and over report the highest median household income of $36,444 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 Cooper, Maine?
In terms of income distribution across age cohorts, Cooper town only reports a median household income of $36,444 among householders in the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Cooper, Maine?
The median age in Cooper town is 51.3, 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 Cooper town. 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)