Council Hill, OK Median Household Income By Age

Council Hill, OK 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 Council Hill population by age, the median age in Council Hill is 25.7 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 Council Hill, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $40,348.

In terms of income distribution across age cohorts, in Council Hill, where there exist only two delineated age groups, the median household income is $47,507 for householders within the 65 years and over age group, compared to $40,348 for the 25 to 44 years 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 Council Hill.

FIGURE 1

Council Hill, OK median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Council Hill, 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 two age groups with available Census data in both 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $14,676(57.17%), escalating from a median of $25,672 in 2012 to $40,348 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $9,165(23.90%), increasing from a median of $38,342 in 2012 to $47,507 in 2022.

Council Hill, OK household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Council Hill 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 6(18.18%) households where the householder is under 25 years old, 8(24.24%) households with a householder aged between 25 and 44 years, 14(42.42%) households with a householder aged between 45 and 64 years, and 5(15.15%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the town of Council Hill, showcasing varying income levels among different age demographics.

FIGURE 2

Council Hill, OK household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Council Hill: 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 Council Hill when compared to the state of Oklahoma 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 33.33% of the households in Council Hill, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $63,895 for the state of Oklahoma. These 2 Council Hill households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Council Hill, among households headed by individuals aged 25 to 44,noteworthy that only 12.50% match or surpass the state of Oklahoma median income of $63,895. These 1 households, represent a low portion of the total 8 households in Council Hill within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Council Hill, within the age group of 45 to 64 years, only 50% of households meet or exceed the state of Oklahoma median income of $63,895. These 7 households, out of the total 14 households in this age cohort, signify a low portion of mature demographic of Council Hill, showcasing commendable financial stability in comparison to the Oklahoma state median income benchmark.
• Householder 65 years and over: In Council Hill, among the over 65 years age group, only 20% of households either match or surpass the state of Oklahoma median income of $63,895. These 1 households, constituting low portion of the Council Hill town senior population, showcase commendable financial stability compared to the Oklahoma state median income benchmark.

Things to know

Which age group reports the highest median household income in Council Hill, OK?

In Council Hill, households led by individuals aged 65 years and over report the highest median household income of $47,507 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 Council Hill, OK?

In terms of income distribution across age cohorts, in Council Hill, where there exist only two delineated age groups, the median household income is $47,507 for householders within the 65 years and over age group, compared to $40,348 for the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Council Hill, OK?

The median age in Council Hill is 25.7, 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 Council Hill, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $40,348.

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