Median Household Income by Age of Householder in Fleming County, KY (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Fleming County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Fleming County.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $66,206 |
45 to 64 years | $52,857 |
65 years and over | $41,766 |
TABLE OF CONTENTS
Fleming County, KY 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 Fleming County population by age, the median age in Fleming County is 40.6 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 Fleming County, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $66,206.
In terms of income distribution across age cohorts, in Fleming County, the median household income stands at $66,206 for householders within the 25 to 44 years age group, followed by $52,857 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $41,766.
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 county of Fleming County.
![Fleming County, KY median household income by age of householder The bar chart shows Fleming County, KY 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/fleming-county-ky-median-household-income-by-age.jpeg)
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 2011 and 2021, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $18,775(39.58%), escalating from a median of $47,431 in 2011 to $66,206 in 2021. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $4,224(8.69%), increasing from a median of $48,633 in 2011 to $52,857 in 2021.
Fleming County, KY household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Fleming County 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 170(2.98%) households where the householder is under 25 years old, 1,688(29.55%) households with a householder aged between 25 and 44 years, 2,102(36.79%) households with a householder aged between 45 and 64 years, and 1,753(30.68%) 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 county of Fleming County, showcasing varying income levels among different age demographics.
![>Fleming County, KY household income distribution across age groups The bar chart displays the distribution of household income in Fleming County, KY 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/fleming-county-ky-household-income-by-age-groups.jpeg)
Age-wise distribution of Fleming County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Fleming County: 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 | 29 | 79 | 209 | 185 |
$10,000 - $14,999 | 12 | 25 | 159 | 165 |
$15,000 - $19,999 | 40 | 13 | 140 | 159 |
$20,000 - $24,999 | 9 | 117 | 28 | 85 |
$25,000 - $29,999 | - | 37 | 188 | 58 |
$30,000 - $34,999 | 18 | 85 | 87 | 150 |
$35,000 - $39,999 | - | 91 | 127 | 130 |
$40,000 - $44,999 | - | 196 | 61 | 55 |
$45,000 - $49,999 | 5 | 15 | 74 | 130 |
$50,000 - $59,999 | 7 | 125 | 145 | 161 |
$60,000 - $74,999 | - | 249 | 283 | 218 |
$75,000 - $99,999 | 20 | 260 | 229 | 167 |
$100,000 - $124,999 | 23 | 217 | 73 | 33 |
$125,000 - $149,999 | - | 91 | 154 | 34 |
$150,000 - $199,999 | 7 | 51 | 92 | 12 |
$200,000 or more | - | 37 | 53 | 11 |
To further explore the income distribution and gain insights into financial landscape of Fleming County when compared to the state of Kentucky 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 33.53% of the households in Fleming County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $59,341 for the state of Kentucky. These 57 Fleming County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Fleming County, among households headed by individuals aged 25 to 44, an impressive 61.02% match or surpass the state of Kentucky median income of $59,341. These 1,030 households, represent a significant portion of the total 1,688 households in Fleming County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Fleming County, within the age group of 45 to 64 years, a noteworthy 48.95% of households meet or exceed the state of Kentucky median income of $59,341. These 1,029 households, out of the total 2,102 households in this age cohort, signify a notable portion of mature demographic of Fleming County, showcasing commendable financial stability in comparison to the Kentucky state median income benchmark.
- Householder 65 years and over: In Fleming County, among the over 65 years age group, a noteworthy 36.28% of households either match or surpass the state of Kentucky median income of $59,341. These 636 households, constituting notable portion of the Fleming County county senior population, showcase commendable financial stability compared to the Kentucky state median income benchmark.
Things to know
Which age group reports the highest median household income in Fleming County, KY?
In Fleming County, households led by individuals aged 25 to 44 years report the highest median household income of $66,206 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 Fleming County, KY?
In terms of income distribution across age cohorts, in Fleming County, the median household income stands at $66,206 for householders within the 25 to 44 years age group, followed by $52,857 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $41,766..
How does the median household income for households led by individuals of median age compare in Fleming County, KY?
The median age in Fleming County is 40.6, 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 Fleming County, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $66,206.
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)