Median Household Income by Age of Householder in Glocester, Rhode Island (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Glocester town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Glocester town.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $114,809 |
45 to 64 years | $124,966 |
65 years and over | $64,974 |
TABLE OF CONTENTS
Glocester, Rhode Island 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 Glocester town population by age, the median age in Glocester town is 45.8 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 Glocester town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $124,966.
In terms of income distribution across age cohorts, in Glocester town, the median household income stands at $124,966 for householders within the 45 to 64 years age group, followed by $114,809 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $64,974.
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 Glocester town.
![Glocester, Rhode Island median household income by age of householder The bar chart shows Glocester, Rhode Island 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/glocester-ri-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 65 years and over age group demonstrated a remarkable increase of $16,724(34.66%), escalating from a median of $48,250 in 2011 to $64,974 in 2021. 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 $5,046(4.60%), increasing from a median of $109,763 in 2011 to $114,809 in 2021.
Glocester, Rhode Island household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Glocester town 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 39(1.07%) households where the householder is under 25 years old, 827(22.61%) households with a householder aged between 25 and 44 years, 1,867(51.04%) households with a householder aged between 45 and 64 years, and 925(25.29%) households where the householder is over 65 years old.
In Glocester town, the age group of 45 to 64 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.
![>Glocester, Rhode Island household income distribution across age groups The bar chart displays the distribution of household income in Glocester, Rhode Island 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/glocester-ri-household-income-by-age-groups.jpeg)
Age-wise distribution of Glocester town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Glocester town: 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 | 14 | 81 |
$10,000 - $14,999 | - | 11 | 15 | 8 |
$15,000 - $19,999 | - | - | 41 | 52 |
$20,000 - $24,999 | - | 45 | 58 | 18 |
$25,000 - $29,999 | - | 14 | 21 | 11 |
$30,000 - $34,999 | - | 13 | 41 | 93 |
$35,000 - $39,999 | - | - | 47 | 36 |
$40,000 - $44,999 | 13 | 77 | 19 | 67 |
$45,000 - $49,999 | - | - | - | 24 |
$50,000 - $59,999 | - | 12 | 175 | 71 |
$60,000 - $74,999 | - | 59 | 117 | 59 |
$75,000 - $99,999 | - | 139 | 287 | 150 |
$100,000 - $124,999 | - | 105 | 273 | 64 |
$125,000 - $149,999 | 26 | 235 | 214 | 87 |
$150,000 - $199,999 | - | 75 | 324 | 39 |
$200,000 or more | - | 30 | 221 | 65 |
To further explore the income distribution and gain insights into financial landscape of Glocester town when compared to the state of Rhode Island 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 impressive that 66.67% of the households in Glocester town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $81,854 for the state of Rhode Island. These 26 Glocester town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Glocester town, among households headed by individuals aged 25 to 44, an impressive 70.62% match or surpass the state of Rhode Island median income of $81,854. These 584 households, represent a significant portion of the total 827 households in Glocester town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Glocester town, within the age group of 45 to 64 years, a remarkable 70.65% of households meet or exceed the state of Rhode Island median income of $81,854. These 1,319 households, out of the total 1,867 households in this age cohort, signify a substantial portion of mature demographic of Glocester town, showcasing commendable financial stability in comparison to the Rhode Island state median income benchmark.
- Householder 65 years and over: In Glocester town, among the over 65 years age group, a noteworthy 43.78% of households either match or surpass the state of Rhode Island median income of $81,854. These 405 households, constituting notable portion of the Glocester town town senior population, showcase commendable financial stability compared to the Rhode Island state median income benchmark.
Things to know
Which age group reports the highest median household income in Glocester, Rhode Island?
In Glocester town, households led by individuals aged 45 to 64 years report the highest median household income of $124,966 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 Glocester, Rhode Island?
In terms of income distribution across age cohorts, in Glocester town, the median household income stands at $124,966 for householders within the 45 to 64 years age group, followed by $114,809 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $64,974..
How does the median household income for households led by individuals of median age compare in Glocester, Rhode Island?
The median age in Glocester town is 45.8, 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 Glocester town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $124,966.
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)