Median Household Income by Age of Householder in Golden Valley County, ND (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Golden Valley County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Golden Valley County.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $112,423 |
| 45 to 64 years | $97,210 |
| 65 years and over | $69,309 |
TABLE OF CONTENTS
Golden Valley County, ND 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 Golden Valley County population by age, the median age in Golden Valley County is 45.7 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 Golden Valley County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $97,210.
In terms of income distribution across age cohorts, in Golden Valley County, the median household income stands at $112,423 for householders within the 25 to 44 years age group, followed by $97,210 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 $69,309.
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 Golden Valley County.
FIGURE 1
Golden Valley County, ND median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Golden Valley County, 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. Among the three age groups with available Census data in both 2012 and 2022, 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 $47,360(215.77%), escalating from a median of $21,949 in 2012 to $69,309 in 2022. 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 $36,363(59.76%), increasing from a median of $60,847 in 2012 to $97,210 in 2022.
Golden Valley County, ND household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Golden Valley 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 6(0.89%) households where the householder is under 25 years old, 145(21.55%) households with a householder aged between 25 and 44 years, 249(37%) households with a householder aged between 45 and 64 years, and 273(40.56%) 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 65 years and over bracket. This distribution hints at economic disparities within the county of Golden Valley County, showcasing varying income levels among different age demographics.
FIGURE 2
Golden Valley County, ND household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Golden Valley County: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Golden Valley County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Golden Valley 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 | - | 8 | - | 9 |
| $10,000 - $14,999 | 1 | - | 15 | 25 |
| $15,000 - $19,999 | - | - | - | 22 |
| $20,000 - $24,999 | - | - | 7 | 4 |
| $25,000 - $29,999 | - | - | - | 10 |
| $30,000 - $34,999 | - | 2 | 4 | 4 |
| $35,000 - $39,999 | - | 26 | - | 20 |
| $40,000 - $44,999 | 5 | - | 18 | 6 |
| $45,000 - $49,999 | - | 1 | 6 | 4 |
| $50,000 - $59,999 | - | 3 | 28 | 27 |
| $60,000 - $74,999 | - | 3 | 32 | 25 |
| $75,000 - $99,999 | - | 10 | 26 | 47 |
| $100,000 - $124,999 | - | 42 | 35 | 29 |
| $125,000 - $149,999 | - | 13 | 31 | 18 |
| $150,000 - $199,999 | - | 17 | 35 | 1 |
| $200,000 or more | - | 20 | 12 | 22 |
To further explore the income distribution and gain insights into financial landscape of Golden Valley County when compared to the state of North Dakota 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 noteworthy that no households in Golden Valley County, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $77,010 for the state of North Dakota. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Golden Valley County, among households headed by individuals aged 25 to 44, an impressive 70.34% match or surpass the state of North Dakota median income of $77,010. These 102 households, represent a significant portion of the total 145 households in Golden Valley County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Golden Valley County, within the age group of 45 to 64 years, a remarkable 55.82% of households meet or exceed the state of North Dakota median income of $77,010. These 139 households, out of the total 249 households in this age cohort, signify a substantial portion of mature demographic of Golden Valley County, showcasing commendable financial stability in comparison to the North Dakota state median income benchmark.
- Householder 65 years and over: In Golden Valley County, among the over 65 years age group, a noteworthy 42.86% of households either match or surpass the state of North Dakota median income of $77,010. These 117 households, constituting notable portion of the Golden Valley County county senior population, showcase commendable financial stability compared to the North Dakota state median income benchmark.
Things to know
Which age group reports the highest median household income in Golden Valley County, ND?
In Golden Valley County, households led by individuals aged 25 to 44 years report the highest median household income of $112,423 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 Golden Valley County, ND?
In terms of income distribution across age cohorts, in Golden Valley County, the median household income stands at $112,423 for householders within the 25 to 44 years age group, followed by $97,210 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 $69,309..
How does the median household income for households led by individuals of median age compare in Golden Valley County, ND?
The median age in Golden Valley County is 45.7, 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 Golden Valley County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $97,210.
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)