Median Household Income by Age of Householder in Gauley Bridge, WV (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Gauley Bridge. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Gauley Bridge.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | - |
65 years and over | $18,482 |
TABLE OF CONTENTS
Gauley Bridge, WV 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 Gauley Bridge population by age, the median age in Gauley Bridge is 43.4 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Gauley Bridge. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, Gauley Bridge only reports a median household income of $18,482 among householders in 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 Gauley Bridge.
FIGURE 1
Gauley Bridge, WV median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Gauley Bridge, 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 65 years and over age group demonstrated the smallest decline of $35,281(65.62%), declining from a median of $53,763 in 2012 to $18,482 in 2022. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $35,281(65.62%), declining from a median of $53,763 in 2012 to $18,482 in 2022.
Gauley Bridge, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Gauley Bridge 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, 75(35.38%) households with a householder aged between 25 and 44 years, 63(29.72%) households with a householder aged between 45 and 64 years, and 74(34.91%) households where the householder is over 65 years old.
The age group of 65 years and over exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the town of Gauley Bridge, showcasing varying income levels among different age demographics.
FIGURE 2
Gauley Bridge, WV household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Gauley Bridge: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Gauley Bridge household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Gauley Bridge: 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 | - | 12 | 24 | 25 |
$10,000 - $14,999 | - | 14 | - | 11 |
$15,000 - $19,999 | - | 14 | 14 | 10 |
$20,000 - $24,999 | - | - | - | 8 |
$25,000 - $29,999 | - | - | 11 | 11 |
$30,000 - $34,999 | - | - | - | 9 |
$35,000 - $39,999 | - | - | - | - |
$40,000 - $44,999 | - | - | - | - |
$45,000 - $49,999 | - | - | - | - |
$50,000 - $59,999 | - | 3 | - | - |
$60,000 - $74,999 | - | 10 | 6 | - |
$75,000 - $99,999 | - | - | - | - |
$100,000 - $124,999 | - | - | 8 | - |
$125,000 - $149,999 | - | 22 | - | - |
$150,000 - $199,999 | - | - | - | - |
$200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Gauley Bridge when compared to the state of West Virginia 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 Gauley Bridge, 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 Gauley Bridge, among households headed by individuals aged 25 to 44,worth noting that 46.67% match or surpass the state of West Virginia median income of $57,495. These 35 households, represent a notable portion of the total 75 households in Gauley Bridge within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Gauley Bridge, within the age group of 45 to 64 years, a noteworthy 22.22% of households meet or exceed the state of West Virginia median income of $57,495. These 14 households, out of the total 63 households in this age cohort, signify a notable portion of mature demographic of Gauley Bridge, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
- Householder 65 years and over: In Gauley Bridge, within the over 65 years age cohort, there are no households that meet or exceed the state of West Virginia median income of $57,495. Therefore, among the total number of households in this senior demographic, none have an income higher than the West Virginia state median income range.
Things to know
Which age group reports the highest median household income in Gauley Bridge, WV?
In Gauley Bridge, households led by individuals aged 65 years and over report the highest median household income of $18,482 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 Gauley Bridge, WV?
In terms of income distribution across age cohorts, Gauley Bridge only reports a median household income of $18,482 among householders in the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Gauley Bridge, WV?
The median age in Gauley Bridge is 43.4, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Gauley Bridge. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)