Cross Timber, TX Median Household Income By Age

Cross Timber, 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 Timber population by age, the median age in Cross Timber is 38.2 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Cross Timber. 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, in Cross Timber, where there exist only two delineated age groups, the median household income is $65,078 for householders within the 65 years and over age group, compared to $43,543 for the 45 to 64 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 Cross Timber.

FIGURE 1

Cross Timber, TX median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Cross Timber, 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 an increase in this time period. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $770(1.17%), declining from a median of $65,848 in 2012 to $65,078 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $67,732(60.87%), declining from a median of $111,275 in 2012 to $43,543 in 2022.

Cross Timber, TX household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Cross Timber 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, 86(50.59%) households with a householder aged between 25 and 44 years, 56(32.94%) households with a householder aged between 45 and 64 years, and 28(16.47%) 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 Cross Timber, showcasing varying income levels among different age demographics.

FIGURE 2

Cross Timber, TX household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Cross Timber: 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 Timber 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: In Cross Timber, 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 Cross Timber, among households headed by individuals aged 25 to 44,worth noting that 32.56% match or surpass the state of Texas median income of $76,048. These 28 households, represent a notable portion of the total 86 households in Cross Timber within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Cross Timber, within the age group of 45 to 64 years, a noteworthy 32.14% of households meet or exceed the state of Texas median income of $76,048. These 18 households, out of the total 56 households in this age cohort, signify a notable portion of mature demographic of Cross Timber, showcasing commendable financial stability in comparison to the Texas state median income benchmark.
• Householder 65 years and over: In Cross Timber, among the over 65 years age group, a noteworthy 39.29% of households either match or surpass the state of Texas median income of $76,048. These 11 households, constituting notable portion of the Cross Timber 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 Timber, TX?

In Cross Timber, households led by individuals aged 65 years and over report the highest median household income of $65,078 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 Timber, TX?

In terms of income distribution across age cohorts, in Cross Timber, where there exist only two delineated age groups, the median household income is $65,078 for householders within the 65 years and over age group, compared to $43,543 for the 45 to 64 years age group..

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

The median age in Cross Timber is 38.2, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Cross Timber. 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.

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