Crows Nest, IN Median Household Income By Age

Crows Nest, IN 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 Crows Nest population by age, the median age in Crows Nest is 45.4 years.

Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Crows Nest. 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, Crows Nest only reports a median household income of $214,107 among householders in 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 town of Crows Nest.

FIGURE 1

Crows Nest, IN median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Crows Nest, 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. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $119,302(35.78%), declining from a median of $333,409 in 2012 to $214,107 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 $119,302(35.78%), declining from a median of $333,409 in 2012 to $214,107 in 2022.

Crows Nest, IN household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Crows Nest 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, 2(8%) households with a householder aged between 25 and 44 years, 6(24%) households with a householder aged between 45 and 64 years, and 17(68%) households where the householder is over 65 years old.

In Crows Nest, the age group of 65 years and over 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

Crows Nest, IN household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Crows Nest: 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 Crows Nest when compared to the state of Indiana 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 Crows Nest, 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 Crows Nest, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of Indiana median income of $69,944. These 2 households, represent a significant portion of the total 2 households in Crows Nest within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Crows Nest, within the age group of 45 to 64 years, a noteworthy 50% of households meet or exceed the state of Indiana median income of $69,944. These 3 households, out of the total 6 households in this age cohort, signify a notable portion of mature demographic of Crows Nest, showcasing commendable financial stability in comparison to the Indiana state median income benchmark.
• Householder 65 years and over: In Crows Nest, among the over 65 years age group, an impressive 82.35% of households either match or surpass the state of Indiana median income of $69,944. These 14 households, constituting a significant portion of the Crows Nest town senior population, showcase commendable financial stability compared to the Indiana state median income benchmark.

Things to know

Which age group reports the highest median household income in Crows Nest, IN?

In Crows Nest, households led by individuals aged 65 years and over report the highest median household income of $214,107 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 Crows Nest, IN?

In terms of income distribution across age cohorts, Crows Nest only reports a median household income of $214,107 among householders in the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Crows Nest, IN?

The median age in Crows Nest is 45.4, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Crows Nest. 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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