Median Household Income by Age of Householder in East Side Township, Minnesota (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in East Side township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in East Side township.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | $70,598 |
25 to 44 years | $55,397 |
45 to 64 years | $77,691 |
65 years and over | $52,694 |
TABLE OF CONTENTS
East Side Township, Minnesota 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 East Side township population by age, the median age in East Side township is 60.1 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 East Side township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $77,691.
In terms of income distribution across age cohorts, in East Side township, householders within the 45 to 64 years age group have the highest median household income at $77,691, followed by those in the under 25 years age group with an income of $70,598. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $55,397. Notably, householders within the 65 years and over age group, had the lowest median household income at $52,694.
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 East Side township.
![East Side Township, Minnesota median household income by age of householder The bar chart shows East Side Township, Minnesota median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).](https://i.neilsberg.com/ch/east-side-township-mn-median-household-income-by-age.jpeg)
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 2011 and 2021, 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 25 to 44 years age group demonstrated a remarkable increase of $30,880(125.95%), escalating from a median of $24,517 in 2011 to $55,397 in 2021. 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 $256,297(78.40%), declining from a median of $326,895 in 2011 to $70,598 in 2021.
East Side Township, Minnesota household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the East Side 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 7(2.29%) households where the householder is under 25 years old, 41(13.40%) households with a householder aged between 25 and 44 years, 126(41.18%) households with a householder aged between 45 and 64 years, and 132(43.14%) 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 65 years and over bracket. This distribution hints at economic disparities within the township of East Side township, showcasing varying income levels among different age demographics.
![>East Side Township, Minnesota household income distribution across age groups The bar chart displays the distribution of household income in East Side Township, Minnesota across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.](https://i.neilsberg.com/ch/east-side-township-mn-household-income-by-age-groups.jpeg)
Age-wise distribution of East Side township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in East Side township: Under 25 years, 25-44 years, 45-64 years, and over 65 years. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
---|---|---|---|---|
Less than $10,000 | - | - | 2 | 6 |
$10,000 - $14,999 | - | - | 4 | - |
$15,000 - $19,999 | - | 4 | 6 | 13 |
$20,000 - $24,999 | - | 5 | - | 6 |
$25,000 - $29,999 | - | 2 | 7 | 16 |
$30,000 - $34,999 | - | - | 2 | 8 |
$35,000 - $39,999 | - | 9 | 7 | 8 |
$40,000 - $44,999 | - | - | - | 8 |
$45,000 - $49,999 | - | - | - | 2 |
$50,000 - $59,999 | 2 | 1 | 4 | 17 |
$60,000 - $74,999 | 5 | 13 | 39 | 15 |
$75,000 - $99,999 | - | 2 | 21 | 19 |
$100,000 - $124,999 | - | - | 11 | 5 |
$125,000 - $149,999 | - | 2 | 6 | 2 |
$150,000 - $199,999 | - | 3 | 11 | 5 |
$200,000 or more | - | - | 6 | 2 |
To further explore the income distribution and gain insights into financial landscape of East Side township when compared to the state of Minnesota 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 East Side township, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $82,338 for the state of Minnesota. 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 East Side township, among households headed by individuals aged 25 to 44,noteworthy that only 17.07% match or surpass the state of Minnesota median income of $82,338. These 7 households, represent a low portion of the total 41 households in East Side township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In East Side township, within the age group of 45 to 64 years, only 43.65% of households meet or exceed the state of Minnesota median income of $82,338. These 55 households, out of the total 126 households in this age cohort, signify a low portion of mature demographic of East Side township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
- Householder 65 years and over: In East Side township, among the over 65 years age group, only 25% of households either match or surpass the state of Minnesota median income of $82,338. These 33 households, constituting low portion of the East Side township township senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.
Things to know
Which age group reports the highest median household income in East Side Township, Minnesota?
In East Side township, households led by individuals aged 45 to 64 years report the highest median household income of $77,691 according to the American Community Survey 2017-2021 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in East Side Township, Minnesota?
In terms of income distribution across age cohorts, in East Side township, householders within the 45 to 64 years age group have the highest median household income at $77,691, followed by those in the under 25 years age group with an income of $70,598. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $55,397. Notably, householders within the 65 years and over age group, had the lowest median household income at $52,694..
How does the median household income for households led by individuals of median age compare in East Side Township, Minnesota?
The median age in East Side township is 60.1, 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 East Side township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $77,691.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)