Green Valley, IL Median Household Income By Age

Green Valley, IL 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 Green Valley population by age, the median age in Green Valley is 32.6 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 Green Valley, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $90,180.

In terms of income distribution across age cohorts, in Green Valley, where there exist only two delineated age groups, the median household income is $90,180 for householders within the 25 to 44 years age group, compared to $74,189 for the 45 to 64 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 village of Green Valley.

FIGURE 1

Green Valley, IL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Green Valley, 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 two age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $25,166(38.71%), escalating from a median of $65,014 in 2012 to $90,180 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $33,752(31.27%), declining from a median of $107,941 in 2012 to $74,189 in 2022.

Green Valley, IL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Green Valley 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 7(2.30%) households where the householder is under 25 years old, 105(34.54%) households with a householder aged between 25 and 44 years, 128(42.11%) households with a householder aged between 45 and 64 years, and 64(21.05%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the village of Green Valley, showcasing varying income levels among different age demographics.

FIGURE 2

Green Valley, IL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Green Valley: 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 Green Valley when compared to the state of Illinois 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 Green Valley, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $81,668 for the state of Illinois. 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 Green Valley, among households headed by individuals aged 25 to 44, an impressive 54.29% match or surpass the state of Illinois median income of $81,668. These 57 households, represent a significant portion of the total 105 households in Green Valley within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Green Valley, within the age group of 45 to 64 years, a noteworthy 48.44% of households meet or exceed the state of Illinois median income of $81,668. These 62 households, out of the total 128 households in this age cohort, signify a notable portion of mature demographic of Green Valley, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
• Householder 65 years and over: In Green Valley, among the over 65 years age group, only 15.62% of households either match or surpass the state of Illinois median income of $81,668. These 10 households, constituting low portion of the Green Valley village senior population, showcase commendable financial stability compared to the Illinois state median income benchmark.

Things to know

Which age group reports the highest median household income in Green Valley, IL?

In Green Valley, households led by individuals aged 25 to 44 years report the highest median household income of $90,180 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 Green Valley, IL?

In terms of income distribution across age cohorts, in Green Valley, where there exist only two delineated age groups, the median household income is $90,180 for householders within the 25 to 44 years age group, compared to $74,189 for the 45 to 64 years age group..

How does the median household income for households led by individuals of median age compare in Green Valley, IL?

The median age in Green Valley is 32.6, 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 Green Valley, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $90,180.

References

Notes