Henry, TN Median Household Income By Age

Henry, TN 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 Henry population by age, the median age in Henry is 35.5 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 Henry. 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 Henry, the median household income stands at $71,586 for householders within the under 25 years age group, followed by $54,666 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $32,865.

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 Henry.

FIGURE 1

Henry, TN median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Henry, 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, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $3,900(13.46%), escalating from a median of $28,965 in 2012 to $32,865 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $2,013(3.55%), declining from a median of $56,679 in 2012 to $54,666 in 2022.

Henry, TN household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Henry 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 4(2.26%) households where the householder is under 25 years old, 74(41.81%) households with a householder aged between 25 and 44 years, 66(37.29%) households with a householder aged between 45 and 64 years, and 33(18.64%) households where the householder is over 65 years old.

The age group of under 25 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 Henry, showcasing varying income levels among different age demographics.

FIGURE 2

Henry, TN household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Henry: 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 Henry when compared to the state of Tennessee 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 impressive that 75% of the households in Henry, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $66,677 for the state of Tennessee. These 3 Henry households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Henry, among households headed by individuals aged 25 to 44,worth noting that 37.84% match or surpass the state of Tennessee median income of $66,677. These 28 households, represent a notable portion of the total 74 households in Henry within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Henry, within the age group of 45 to 64 years, a noteworthy 40.91% of households meet or exceed the state of Tennessee median income of $66,677. These 27 households, out of the total 66 households in this age cohort, signify a notable portion of mature demographic of Henry, showcasing commendable financial stability in comparison to the Tennessee state median income benchmark.
• Householder 65 years and over: In Henry, among the over 65 years age group, only 3.03% of households either match or surpass the state of Tennessee median income of $66,677. These 1 households, constituting low portion of the Henry town senior population, showcase commendable financial stability compared to the Tennessee state median income benchmark.

Things to know

Which age group reports the highest median household income in Henry, TN?

In Henry, households led by individuals aged under 25 years report the highest median household income of $71,586 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 Henry, TN?

In terms of income distribution across age cohorts, in Henry, the median household income stands at $71,586 for householders within the under 25 years age group, followed by $54,666 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $32,865..

How does the median household income for households led by individuals of median age compare in Henry, TN?

The median age in Henry is 35.5, 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 Henry. 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.

References

Notes