Median Household Income by Age of Householder in Cottage Grove, OR (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Cottage Grove. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Cottage Grove.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $81,484 |
| 25 to 44 years | $77,717 |
| 45 to 64 years | $66,453 |
| 65 years and over | $43,558 |
TABLE OF CONTENTS
Cottage Grove, OR 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 Cottage Grove population by age, the median age in Cottage Grove is 39.3 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 Cottage Grove, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $77,717.
In terms of income distribution across age cohorts, in Cottage Grove, householders within the under 25 years age group have the highest median household income at $81,484, followed by those in the 25 to 44 years age group with an income of $77,717. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $66,453. Notably, householders within the 65 years and over age group, had the lowest median household income at $43,558.
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 Cottage Grove.
FIGURE 1
Cottage Grove, OR median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Cottage Grove, 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 four age groups with available Census data in both 2013 and 2023, none had a decline during this time period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $65,548(411.32%), escalating from a median of $15,936 in 2013 to $81,484 in 2023. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $4,878(6.70%), increasing from a median of $72,839 in 2013 to $77,717 in 2023.
Cottage Grove, OR household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Cottage Grove 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 254(5.97%) households where the householder is under 25 years old, 1,410(33.11%) households with a householder aged between 25 and 44 years, 1,462(34.34%) households with a householder aged between 45 and 64 years, and 1,132(26.59%) households where the householder is over 65 years old.
The age group of under 25 years exhibits the highest median household income, while the largest number of households falls within the 45 to 64 years bracket. This distribution hints at economic disparities within the city of Cottage Grove, showcasing varying income levels among different age demographics.
FIGURE 2
Cottage Grove, OR household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Cottage Grove: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Cottage Grove household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Cottage Grove: 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 | - | 112 | 136 | 42 |
| $10,000 - $14,999 | 5 | 22 | 72 | 93 |
| $15,000 - $19,999 | - | 35 | 82 | 9 |
| $20,000 - $24,999 | 33 | 30 | 50 | 75 |
| $25,000 - $29,999 | 7 | 6 | 47 | 111 |
| $30,000 - $34,999 | 27 | 67 | 10 | 30 |
| $35,000 - $39,999 | - | 37 | 116 | 133 |
| $40,000 - $44,999 | - | 44 | 36 | 88 |
| $45,000 - $49,999 | 17 | 53 | 28 | 90 |
| $50,000 - $59,999 | - | 105 | 73 | 45 |
| $60,000 - $74,999 | - | 151 | 173 | 79 |
| $75,000 - $99,999 | 64 | 197 | 173 | 120 |
| $100,000 - $124,999 | 88 | 235 | 264 | 95 |
| $125,000 - $149,999 | 13 | 154 | 46 | 47 |
| $150,000 - $199,999 | - | 57 | 107 | 75 |
| $200,000 or more | - | 105 | 49 | - |
To further explore the income distribution and gain insights into financial landscape of Cottage Grove when compared to the state of Oregon 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 impressive that 64.96% of the households in Cottage Grove, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $80,426 for the state of Oregon. These 165 Cottage Grove households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Cottage Grove, among households headed by individuals aged 25 to 44, an impressive 53.05% match or surpass the state of Oregon median income of $80,426. These 748 households, represent a significant portion of the total 1,410 households in Cottage Grove within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Cottage Grove, within the age group of 45 to 64 years, a noteworthy 43.71% of households meet or exceed the state of Oregon median income of $80,426. These 639 households, out of the total 1,462 households in this age cohort, signify a notable portion of mature demographic of Cottage Grove, showcasing commendable financial stability in comparison to the Oregon state median income benchmark.
- Householder 65 years and over: In Cottage Grove, among the over 65 years age group, a noteworthy 29.77% of households either match or surpass the state of Oregon median income of $80,426. These 337 households, constituting notable portion of the Cottage Grove city senior population, showcase commendable financial stability compared to the Oregon state median income benchmark.
Things to know
Which age group reports the highest median household income in Cottage Grove, OR?
In Cottage Grove, households led by individuals aged under 25 years report the highest median household income of $81,484 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 Cottage Grove, OR?
In terms of income distribution across age cohorts, in Cottage Grove, householders within the under 25 years age group have the highest median household income at $81,484, followed by those in the 25 to 44 years age group with an income of $77,717. Meanwhile householders within the 45 to 64 years age group report the second lowest median household income of $66,453. Notably, householders within the 65 years and over age group, had the lowest median household income at $43,558..
How does the median household income for households led by individuals of median age compare in Cottage Grove, OR?
The median age in Cottage Grove is 39.3, 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 Cottage Grove, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $77,717.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)
