Heath Springs, SC Median Household Income By Age

Heath Springs, SC 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 Heath Springs population by age, the median age in Heath Springs is 29.8 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 Heath Springs. 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, in Heath Springs, where there exist only two delineated age groups, the median household income is $50,327 for householders within the 45 to 64 years age group, compared to $42,301 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 Heath Springs.

FIGURE 1

Heath Springs, SC median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Heath Springs, 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 65 years and over age group demonstrated a remarkable increase of $8,960(26.87%), escalating from a median of $33,341 in 2012 to $42,301 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 $1,760(3.62%), increasing from a median of $48,567 in 2012 to $50,327 in 2022.

Heath Springs, SC household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Heath Springs 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 14(4.27%) households where the householder is under 25 years old, 124(37.80%) households with a householder aged between 25 and 44 years, 92(28.05%) households with a householder aged between 45 and 64 years, and 98(29.88%) households where the householder is over 65 years old.

The age group of 45 to 64 years exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the town of Heath Springs, showcasing varying income levels among different age demographics.

FIGURE 2

Heath Springs, SC household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Heath Springs: 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 Heath Springs when compared to the state of South Carolina 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 worth noting that 42.86% of the households in Heath Springs, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $66,248 for the state of South Carolina. These 6 Heath Springs households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Heath Springs, among households headed by individuals aged 25 to 44, an impressive 52.42% match or surpass the state of South Carolina median income of $66,248. These 65 households, represent a significant portion of the total 124 households in Heath Springs within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Heath Springs, within the age group of 45 to 64 years, a noteworthy 41.30% of households meet or exceed the state of South Carolina median income of $66,248. These 38 households, out of the total 92 households in this age cohort, signify a notable portion of mature demographic of Heath Springs, showcasing commendable financial stability in comparison to the South Carolina state median income benchmark.
• Householder 65 years and over: In Heath Springs, among the over 65 years age group, a noteworthy 28.57% of households either match or surpass the state of South Carolina median income of $66,248. These 28 households, constituting notable portion of the Heath Springs town senior population, showcase commendable financial stability compared to the South Carolina state median income benchmark.

Things to know

Which age group reports the highest median household income in Heath Springs, SC?

In Heath Springs, households led by individuals aged 45 to 64 years report the highest median household income of $50,327 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 Heath Springs, SC?

In terms of income distribution across age cohorts, in Heath Springs, where there exist only two delineated age groups, the median household income is $50,327 for householders within the 45 to 64 years age group, compared to $42,301 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Heath Springs, SC?

The median age in Heath Springs is 29.8, 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 Heath Springs. 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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