Creal Springs, IL Median Household Income By Age

Creal Springs, IL 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 Creal Springs population by age, the median age in Creal Springs is 34.3 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 Creal Springs, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $69,742.

In terms of income distribution across age cohorts, in Creal Springs, where there exist only two delineated age groups, the median household income is $69,742 for householders within the 25 to 44 years age group, compared to $19,523 for 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 city of Creal Springs.

FIGURE 1

Creal Springs, IL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Creal Springs, 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, one 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 25 to 44 years age group demonstrated a remarkable increase of $31,248(81.18%), escalating from a median of $38,494 in 2012 to $69,742 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 $315(1.59%), declining from a median of $19,838 in 2012 to $19,523 in 2022.

Creal Springs, IL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Creal Springs 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, 93(51.67%) households with a householder aged between 25 and 44 years, 44(24.44%) households with a householder aged between 45 and 64 years, and 43(23.89%) households where the householder is over 65 years old.

In Creal Springs, the age group of 25 to 44 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

Creal Springs, IL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Creal Springs: 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 Creal Springs when compared to the state of Illinois 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 Creal Springs, 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 Creal Springs, among households headed by individuals aged 25 to 44,worth noting that 47.31% match or surpass the state of Illinois median income of $81,668. These 44 households, represent a notable portion of the total 93 households in Creal Springs within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Creal Springs, within the age group of 45 to 64 years, a noteworthy 20.45% of households meet or exceed the state of Illinois median income of $81,668. These 9 households, out of the total 44 households in this age cohort, signify a notable portion of mature demographic of Creal Springs, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
• Householder 65 years and over: In Creal Springs, among the over 65 years age group, only 11.63% of households either match or surpass the state of Illinois median income of $81,668. These 5 households, constituting low portion of the Creal Springs city senior population, showcase commendable financial stability compared to the Illinois state median income benchmark.

Things to know

Which age group reports the highest median household income in Creal Springs, IL?

In Creal Springs, households led by individuals aged 25 to 44 years report the highest median household income of $69,742 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 Creal Springs, IL?

In terms of income distribution across age cohorts, in Creal Springs, where there exist only two delineated age groups, the median household income is $69,742 for householders within the 25 to 44 years age group, compared to $19,523 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Creal Springs, IL?

The median age in Creal Springs is 34.3, 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 Creal Springs, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $69,742.

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