Gauley Bridge, WV Median Household Income By Age

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 45.1 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 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 $21,250 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 $7,899(27.10%), declining from a median of $29,149 in 2013 to $21,250 in 2023. 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 $7,899(27.10%), declining from a median of $29,149 in 2013 to $21,250 in 2023.

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, 47(21.96%) households with a householder aged between 25 and 44 years, 69(32.24%) households with a householder aged between 45 and 64 years, and 98(45.79%) households where the householder is over 65 years old.

In Gauley Bridge, the age group of 65 years and over 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

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

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 44.68% match or surpass the state of West Virginia median income of $57,917. These 21 households, represent a notable portion of the total 47 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 36.23% of households meet or exceed the state of West Virginia median income of $57,917. These 25 households, out of the total 69 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, among the over 65 years age group, a noteworthy 30.61% of households either match or surpass the state of West Virginia median income of $57,917. These 30 households, constituting notable portion of the Gauley Bridge town senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.

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 $21,250 according to the American Community Survey 2019-2023 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 $21,250 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 45.1, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 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.

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