Gulf Port, 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 Gulf Port population by age, the median age in Gulf Port is 49.6 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 Gulf Port, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $68,908.
In terms of income distribution across age cohorts, Gulf Port only reports a median household income of $68,908 among householders in 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 Gulf Port.
Analysis of income trends over the past decade highlights notable shifts across various age groups. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $53,030(333.98%), escalating from a median of $15,878 in 2011 to $68,908 in 2021. 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 $53,030(333.98%), increasing from a median of $15,878 in 2011 to $68,908 in 2021.
Gulf Port, IL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Gulf Port 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, 0 households with a householder aged between 25 and 44 years, 20(74.07%) households with a householder aged between 45 and 64 years, and 7(25.93%) households where the householder is over 65 years old.
In Gulf Port, 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.
Age-wise distribution of Gulf Port household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Gulf Port: 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 | - | - | - | - |
| $10,000 - $14,999 | - | - | - | - |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | - | 2 |
| $25,000 - $29,999 | - | - | - | - |
| $30,000 - $34,999 | - | - | 6 | - |
| $35,000 - $39,999 | - | - | - | - |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | - | - |
| $50,000 - $59,999 | - | - | 2 | 1 |
| $60,000 - $74,999 | - | - | 4 | 2 |
| $75,000 - $99,999 | - | - | 6 | - |
| $100,000 - $124,999 | - | - | - | - |
| $125,000 - $149,999 | - | - | 2 | 2 |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Gulf Port 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: In Gulf Port, 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 Gulf Port there are no households where the head of the household is between 25 to 44 years old, making it impossible to compare the income with that of the state and the nation.
- Householder 45 to 64 years: In Gulf Port, within the age group of 45 to 64 years, a noteworthy 40% of households meet or exceed the state of Illinois median income of $76,708. These 8 households, out of the total 20 households in this age cohort, signify a notable portion of mature demographic of Gulf Port, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
- Householder 65 years and over: In Gulf Port, among the over 65 years age group, a noteworthy 28.57% of households either match or surpass the state of Illinois median income of $76,708. These 2 households, constituting notable portion of the Gulf Port village senior population, showcase commendable financial stability compared to the Illinois state median income benchmark.