Ekalaka, MT Median Household Income By Age

Ekalaka, MT 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 Ekalaka population by age, the median age in Ekalaka is 60.3 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 Ekalaka, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $49,025.

In terms of income distribution across age cohorts, in Ekalaka, where there exist only two delineated age groups, the median household income is $49,025 for householders within the 45 to 64 years age group, compared to $23,428 for 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 Ekalaka.

FIGURE 1

Ekalaka, MT median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Ekalaka, 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 $1,339(5.41%), declining from a median of $24,767 in 2012 to $23,428 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 $24,991(33.76%), declining from a median of $74,016 in 2012 to $49,025 in 2022.

Ekalaka, MT household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Ekalaka 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 12(5.56%) households where the householder is under 25 years old, 53(24.54%) households with a householder aged between 25 and 44 years, 55(25.46%) households with a householder aged between 45 and 64 years, and 96(44.44%) 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 town of Ekalaka, showcasing varying income levels among different age demographics.

FIGURE 2

Ekalaka, MT household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Ekalaka: 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 Ekalaka when compared to the state of Montana 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 worth noting that 50% of the households in Ekalaka, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,078 for the state of Montana. These 6 Ekalaka households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Ekalaka, among households headed by individuals aged 25 to 44,worth noting that 37.74% match or surpass the state of Montana median income of $69,078. These 20 households, represent a notable portion of the total 53 households in Ekalaka within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Ekalaka, within the age group of 45 to 64 years, a noteworthy 40% of households meet or exceed the state of Montana median income of $69,078. These 22 households, out of the total 55 households in this age cohort, signify a notable portion of mature demographic of Ekalaka, showcasing commendable financial stability in comparison to the Montana state median income benchmark.
• Householder 65 years and over: In Ekalaka, among the over 65 years age group, a noteworthy 31.25% of households either match or surpass the state of Montana median income of $69,078. These 30 households, constituting notable portion of the Ekalaka town senior population, showcase commendable financial stability compared to the Montana state median income benchmark.

Things to know

Which age group reports the highest median household income in Ekalaka, MT?

In Ekalaka, households led by individuals aged 45 to 64 years report the highest median household income of $49,025 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 Ekalaka, MT?

In terms of income distribution across age cohorts, in Ekalaka, where there exist only two delineated age groups, the median household income is $49,025 for householders within the 45 to 64 years age group, compared to $23,428 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Ekalaka, MT?

The median age in Ekalaka is 60.3, 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 Ekalaka, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $49,025.

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