Cross Plains, TX Median Household Income By Age

Cross Plains, TX 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 Cross Plains population by age, the median age in Cross Plains is 28.3 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 Cross Plains, the age group of 25 to 44 years had the second lowest median household income, recorded at $50,692.

In terms of income distribution across age cohorts, in Cross Plains, the median household income stands at $57,269 for householders within the 45 to 64 years age group, followed by $55,533 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $50,692.

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 Cross Plains.

FIGURE 1

Cross Plains, TX median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Cross Plains, 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 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $19,343(51%), escalating from a median of $37,926 in 2012 to $57,269 in 2022. 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 $1,329(2.69%), increasing from a median of $49,363 in 2012 to $50,692 in 2022.

Cross Plains, TX household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Cross Plains 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 28(6.60%) households where the householder is under 25 years old, 162(38.21%) households with a householder aged between 25 and 44 years, 104(24.53%) households with a householder aged between 45 and 64 years, and 130(30.66%) households where the householder is over 65 years old.

The age group of 45 to 64 years 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 Cross Plains, showcasing varying income levels among different age demographics.

FIGURE 2

Cross Plains, TX household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Cross Plains: 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 Cross Plains when compared to the state of Texas 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 noteworthy that no households in Cross Plains, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $76,048 for the state of Texas. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
• Householder 25 to 44 years: In Cross Plains, among households headed by individuals aged 25 to 44,noteworthy that only 20.37% match or surpass the state of Texas median income of $76,048. These 33 households, represent a low portion of the total 162 households in Cross Plains within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Cross Plains, within the age group of 45 to 64 years, only 30.77% of households meet or exceed the state of Texas median income of $76,048. These 32 households, out of the total 104 households in this age cohort, signify a low portion of mature demographic of Cross Plains, showcasing commendable financial stability in comparison to the Texas state median income benchmark.
• Householder 65 years and over: In Cross Plains, among the over 65 years age group, only 3.85% of households either match or surpass the state of Texas median income of $76,048. These 5 households, constituting low portion of the Cross Plains town senior population, showcase commendable financial stability compared to the Texas state median income benchmark.

Things to know

Which age group reports the highest median household income in Cross Plains, TX?

In Cross Plains, households led by individuals aged 45 to 64 years report the highest median household income of $57,269 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 Cross Plains, TX?

In terms of income distribution across age cohorts, in Cross Plains, the median household income stands at $57,269 for householders within the 45 to 64 years age group, followed by $55,533 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $50,692..

How does the median household income for households led by individuals of median age compare in Cross Plains, TX?

The median age in Cross Plains is 28.3, 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 Cross Plains, the age group of 25 to 44 years had the second lowest median household income, recorded at $50,692.

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