Hassan Valley Township, Minnesota Median Household Income By Age

Hassan Valley Township, Minnesota 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 Hassan Valley township population by age, the median age in Hassan Valley township is 47 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 Hassan Valley township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $140,569.

In terms of income distribution across age cohorts, in Hassan Valley township, the median household income stands at $140,569 for householders within the 45 to 64 years age group, followed by $96,750 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 $75,817.

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 township of Hassan Valley township.

FIGURE 1

Hassan Valley Township, Minnesota median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Hassan Valley township, 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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $38,880(38.23%), escalating from a median of $101,689 in 2012 to $140,569 in 2022. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $16,331(14.44%), declining from a median of $113,081 in 2012 to $96,750 in 2022.

Hassan Valley Township, Minnesota household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Hassan Valley township 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 1(0.42%) households where the householder is under 25 years old, 41(17.08%) households with a householder aged between 25 and 44 years, 140(58.33%) households with a householder aged between 45 and 64 years, and 58(24.17%) households where the householder is over 65 years old.

In Hassan Valley township, 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

Hassan Valley Township, Minnesota household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Hassan Valley township: 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 Hassan Valley township when compared to the state of Minnesota 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 Hassan Valley township, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $87,791 for the state of Minnesota. 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 Hassan Valley township, among households headed by individuals aged 25 to 44, an impressive 65.85% match or surpass the state of Minnesota median income of $87,791. These 27 households, represent a significant portion of the total 41 households in Hassan Valley township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Hassan Valley township, within the age group of 45 to 64 years, a remarkable 79.29% of households meet or exceed the state of Minnesota median income of $87,791. These 111 households, out of the total 140 households in this age cohort, signify a substantial portion of mature demographic of Hassan Valley township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
• Householder 65 years and over: In Hassan Valley township, among the over 65 years age group, a noteworthy 37.93% of households either match or surpass the state of Minnesota median income of $87,791. These 22 households, constituting notable portion of the Hassan Valley township township senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.

Things to know

Which age group reports the highest median household income in Hassan Valley Township, Minnesota?

In Hassan Valley township, households led by individuals aged 45 to 64 years report the highest median household income of $140,569 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 Hassan Valley Township, Minnesota?

In terms of income distribution across age cohorts, in Hassan Valley township, the median household income stands at $140,569 for householders within the 45 to 64 years age group, followed by $96,750 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 $75,817..

How does the median household income for households led by individuals of median age compare in Hassan Valley Township, Minnesota?

The median age in Hassan Valley township is 47, 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 Hassan Valley township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $140,569.

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