Hartford City, WV Median Household Income By Age

Hartford City, WV 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 Hartford City population by age, the median age in Hartford City is 46.8 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 Hartford City, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $58,452.

In terms of income distribution across age cohorts, in Hartford City, where there exist only two delineated age groups, the median household income is $58,452 for householders within the 45 to 64 years age group, compared to $38,180 for the 65 years and over 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 town of Hartford City.

FIGURE 1

Hartford City, WV median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Hartford City, 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, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $8,441(16.88%), escalating from a median of $50,011 in 2012 to $58,452 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 $7,201(23.24%), increasing from a median of $30,979 in 2012 to $38,180 in 2022.

Hartford City, WV household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Hartford City 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, 71(29.46%) households with a householder aged between 25 and 44 years, 86(35.68%) households with a householder aged between 45 and 64 years, and 84(34.85%) households where the householder is over 65 years old.

In Hartford City, 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

Hartford City, WV household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Hartford City: 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 Hartford City when compared to the state of West Virginia 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 Hartford City, 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 Hartford City, among households headed by individuals aged 25 to 44,worth noting that 45.07% match or surpass the state of West Virginia median income of $57,495. These 32 households, represent a notable portion of the total 71 households in Hartford City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Hartford City, within the age group of 45 to 64 years, a remarkable 67.44% of households meet or exceed the state of West Virginia median income of $57,495. These 58 households, out of the total 86 households in this age cohort, signify a substantial portion of mature demographic of Hartford City, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
• Householder 65 years and over: In Hartford City, among the over 65 years age group, a noteworthy 36.90% of households either match or surpass the state of West Virginia median income of $57,495. These 31 households, constituting notable portion of the Hartford City town senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.

Things to know

Which age group reports the highest median household income in Hartford City, WV?

In Hartford City, households led by individuals aged 45 to 64 years report the highest median household income of $58,452 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 Hartford City, WV?

In terms of income distribution across age cohorts, in Hartford City, where there exist only two delineated age groups, the median household income is $58,452 for householders within the 45 to 64 years age group, compared to $38,180 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Hartford City, WV?

The median age in Hartford City is 46.8, 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 Hartford City, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $58,452.

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