Crystal River, FL Median Household Income By Age

Crystal River, FL 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 Crystal River population by age, the median age in Crystal River is 64.1 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, within Crystal River, the age group of 45 to 64 years had the second lowest median household income, recorded at $35,543.

In terms of income distribution across age cohorts, in Crystal River, the median household income stands at $94,852 for householders within the 25 to 44 years age group, followed by $52,072 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $35,543.

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 Crystal River.

FIGURE 1

Crystal River, FL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Crystal River, 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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $33,728(55.18%), escalating from a median of $61,124 in 2012 to $94,852 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 $12,089(25.38%), declining from a median of $47,632 in 2012 to $35,543 in 2022.

Crystal River, FL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Crystal River 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 18(1.12%) households where the householder is under 25 years old, 215(13.41%) households with a householder aged between 25 and 44 years, 471(29.38%) households with a householder aged between 45 and 64 years, and 899(56.08%) households where the householder is over 65 years old.

The age group of 25 to 44 years exhibits the highest median household income, while the largest number of households falls within the 65 years and over bracket. This distribution hints at economic disparities within the city of Crystal River, showcasing varying income levels among different age demographics.

FIGURE 2

Crystal River, FL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Crystal River: 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 Crystal River when compared to the state of Florida 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 Crystal River, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $70,719 for the state of Florida. 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 Crystal River, among households headed by individuals aged 25 to 44, an impressive 73.02% match or surpass the state of Florida median income of $70,719. These 157 households, represent a significant portion of the total 215 households in Crystal River within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Crystal River, within the age group of 45 to 64 years, a noteworthy 29.30% of households meet or exceed the state of Florida median income of $70,719. These 138 households, out of the total 471 households in this age cohort, signify a notable portion of mature demographic of Crystal River, showcasing commendable financial stability in comparison to the Florida state median income benchmark.
• Householder 65 years and over: In Crystal River, among the over 65 years age group, a noteworthy 30.26% of households either match or surpass the state of Florida median income of $70,719. These 272 households, constituting notable portion of the Crystal River city senior population, showcase commendable financial stability compared to the Florida state median income benchmark.

Things to know

Which age group reports the highest median household income in Crystal River, FL?

In Crystal River, households led by individuals aged 25 to 44 years report the highest median household income of $94,852 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 Crystal River, FL?

In terms of income distribution across age cohorts, in Crystal River, the median household income stands at $94,852 for householders within the 25 to 44 years age group, followed by $52,072 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $35,543..

How does the median household income for households led by individuals of median age compare in Crystal River, FL?

The median age in Crystal River is 64.1, 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, within Crystal River, the age group of 45 to 64 years had the second lowest median household income, recorded at $35,543.

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