Garden City, CO Median Household Income By Age

Garden City, CO 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 Garden City population by age, the median age in Garden City is 38.1 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 Garden City, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $58,199.

In terms of income distribution across age cohorts, Garden City only reports a median household income of $58,199 among householders in the 25 to 44 years 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 Garden City.

FIGURE 1

Garden City, CO median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Garden City, 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. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $25,692(79.04%), escalating from a median of $32,507 in 2012 to $58,199 in 2022. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $25,692(79.04%), increasing from a median of $32,507 in 2012 to $58,199 in 2022.

Garden City, CO household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Garden City 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 0 households where the householder is under 25 years old, 51(51%) households with a householder aged between 25 and 44 years, 30(30%) households with a householder aged between 45 and 64 years, and 19(19%) households where the householder is over 65 years old.

In Garden City, the age group of 25 to 44 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.

FIGURE 2

Garden City, CO household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Garden City: 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 Garden City when compared to the state of Colorado 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: In Garden City, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
• Householder 25 to 44 years: In Garden City, among households headed by individuals aged 25 to 44,noteworthy that only 23.53% match or surpass the state of Colorado median income of $91,212. These 12 households, represent a low portion of the total 51 households in Garden City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Garden City, within the age group of 45 to 64 years, only 6.67% of households meet or exceed the state of Colorado median income of $91,212. These 2 households, out of the total 30 households in this age cohort, signify a low portion of mature demographic of Garden City, showcasing commendable financial stability in comparison to the Colorado state median income benchmark.
• Householder 65 years and over: In Garden City, among the over 65 years age group, only 15.79% of households either match or surpass the state of Colorado median income of $91,212. These 3 households, constituting low portion of the Garden City town senior population, showcase commendable financial stability compared to the Colorado state median income benchmark.

Things to know

Which age group reports the highest median household income in Garden City, CO?

In Garden City, households led by individuals aged 25 to 44 years report the highest median household income of $58,199 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 Garden City, CO?

In terms of income distribution across age cohorts, Garden City only reports a median household income of $58,199 among householders in the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Garden City, CO?

The median age in Garden City is 38.1, 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 Garden City, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $58,199.

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