Greenview, IL Median Household Income By Age

Greenview, 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 Greenview population by age, the median age in Greenview is 41.2 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 Greenview, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $83,300.

In terms of income distribution across age cohorts, in Greenview, the median household income stands at $89,916 for householders within the 45 to 64 years age group, followed by $83,300 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 $42,011.

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 Greenview.

FIGURE 1

Greenview, IL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Greenview, 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 25 to 44 years age group demonstrated a remarkable increase of $14,785(21.58%), escalating from a median of $68,515 in 2012 to $83,300 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $2,836(7.24%), increasing from a median of $39,175 in 2012 to $42,011 in 2022.

Greenview, IL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Greenview 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 10(2.53%) households where the householder is under 25 years old, 112(28.28%) households with a householder aged between 25 and 44 years, 157(39.65%) households with a householder aged between 45 and 64 years, and 117(29.55%) households where the householder is over 65 years old.

In Greenview, 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.

FIGURE 2

Greenview, IL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Greenview: 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 Greenview 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 Greenview, 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 Greenview, among households headed by individuals aged 25 to 44, an impressive 61.61% match or surpass the state of Illinois median income of $81,668. These 69 households, represent a significant portion of the total 112 households in Greenview within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Greenview, within the age group of 45 to 64 years, a remarkable 54.14% of households meet or exceed the state of Illinois median income of $81,668. These 85 households, out of the total 157 households in this age cohort, signify a substantial portion of mature demographic of Greenview, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
• Householder 65 years and over: In Greenview, among the over 65 years age group, only 19.66% of households either match or surpass the state of Illinois median income of $81,668. These 23 households, constituting low portion of the Greenview 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 Greenview, IL?

In Greenview, households led by individuals aged 45 to 64 years report the highest median household income of $89,916 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 Greenview, IL?

In terms of income distribution across age cohorts, in Greenview, the median household income stands at $89,916 for householders within the 45 to 64 years age group, followed by $83,300 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 $42,011..

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

The median age in Greenview is 41.2, 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 Greenview, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $83,300.

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