Delran Township, New Jersey Median Household Income By Age

Delran Township, New Jersey 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 Delran township population by age, the median age in Delran township is 41 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 Delran township, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $132,109.

In terms of income distribution across age cohorts, in Delran township, householders within the 25 to 44 years age group have the highest median household income at $132,109, followed by those in the 45 to 64 years age group with an income of $122,696. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $77,419. Notably, householders within the under 25 years age group, had the lowest median household income at $35,686.

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 township of Delran township.

FIGURE 1

Delran Township, New Jersey median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Delran township, 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 four age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining three experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $13,261(20.67%), escalating from a median of $64,158 in 2012 to $77,419 in 2022. Conversely, the age group of Under 25 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $534(1.47%), declining from a median of $36,220 in 2012 to $35,686 in 2022.

Delran Township, New Jersey household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Delran township 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 154(2.26%) households where the householder is under 25 years old, 2,126(31.16%) households with a householder aged between 25 and 44 years, 2,671(39.15%) households with a householder aged between 45 and 64 years, and 1,871(27.43%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the township of Delran township, showcasing varying income levels among different age demographics.

FIGURE 2

Delran Township, New Jersey household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Delran township: 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 Delran township when compared to the state of New Jersey 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 only 13.64% of the households in Delran township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $101,133 for the state of New Jersey. These 21 Delran township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Delran township, among households headed by individuals aged 25 to 44, an impressive 62.98% match or surpass the state of New Jersey median income of $101,133. These 1,339 households, represent a significant portion of the total 2,126 households in Delran township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Delran township, within the age group of 45 to 64 years, a remarkable 61.92% of households meet or exceed the state of New Jersey median income of $101,133. These 1,654 households, out of the total 2,671 households in this age cohort, signify a substantial portion of mature demographic of Delran township, showcasing commendable financial stability in comparison to the New Jersey state median income benchmark.
• Householder 65 years and over: In Delran township, among the over 65 years age group, a noteworthy 27.74% of households either match or surpass the state of New Jersey median income of $101,133. These 519 households, constituting notable portion of the Delran township township senior population, showcase commendable financial stability compared to the New Jersey state median income benchmark.

Things to know

Which age group reports the highest median household income in Delran Township, New Jersey?

In Delran township, households led by individuals aged 25 to 44 years report the highest median household income of $132,109 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 Delran Township, New Jersey?

In terms of income distribution across age cohorts, in Delran township, householders within the 25 to 44 years age group have the highest median household income at $132,109, followed by those in the 45 to 64 years age group with an income of $122,696. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $77,419. Notably, householders within the under 25 years age group, had the lowest median household income at $35,686..

How does the median household income for households led by individuals of median age compare in Delran Township, New Jersey?

The median age in Delran township is 41, 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 Delran township, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $132,109.

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