Hall Summit, LA Median Household Income By Age

Hall Summit, LA 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 Hall Summit population by age, the median age in Hall Summit is 37.4 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Hall Summit. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.

In terms of income distribution across age cohorts, Hall Summit only reports a median household income of $112,195 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 Hall Summit.

FIGURE 1

Hall Summit, LA median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Hall Summit, 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. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $70,102(166.54%), escalating from a median of $42,093 in 2012 to $112,195 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 $70,102(166.54%), increasing from a median of $42,093 in 2012 to $112,195 in 2022.

Hall Summit, LA household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Hall Summit 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, 42(35.59%) households with a householder aged between 25 and 44 years, 53(44.92%) households with a householder aged between 45 and 64 years, and 23(19.49%) households where the householder is over 65 years old.

In Hall Summit, 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

Hall Summit, LA household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Hall Summit: 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 Hall Summit when compared to the state of Louisiana 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 Hall Summit, 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 Hall Summit, among households headed by individuals aged 25 to 44,worth noting that 38.10% match or surpass the state of Louisiana median income of $60,238. These 16 households, represent a notable portion of the total 42 households in Hall Summit within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Hall Summit, within the age group of 45 to 64 years, a remarkable 62.26% of households meet or exceed the state of Louisiana median income of $60,238. These 33 households, out of the total 53 households in this age cohort, signify a substantial portion of mature demographic of Hall Summit, showcasing commendable financial stability in comparison to the Louisiana state median income benchmark.
• Householder 65 years and over: In Hall Summit, among the over 65 years age group, only 21.74% of households either match or surpass the state of Louisiana median income of $60,238. These 5 households, constituting low portion of the Hall Summit village senior population, showcase commendable financial stability compared to the Louisiana state median income benchmark.

Things to know

Which age group reports the highest median household income in Hall Summit, LA?

In Hall Summit, households led by individuals aged 45 to 64 years report the highest median household income of $112,195 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 Hall Summit, LA?

In terms of income distribution across age cohorts, Hall Summit only reports a median household income of $112,195 among householders in the 45 to 64 years age group..

How does the median household income for households led by individuals of median age compare in Hall Summit, LA?

The median age in Hall Summit is 37.4, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Hall Summit. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.

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