Hickman County, TN Median Household Income By Age

Hickman County, 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 Hickman County population by age, the median age in Hickman County is 41.8 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, within Hickman County, the age group of 25 to 44 years had the second lowest median household income, recorded at $68,245.

In terms of income distribution across age cohorts, in Hickman County, householders within the under 25 years age group have the highest median household income at $80,560, followed by those in the 45 to 64 years age group with an income of $70,845. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $68,245. Notably, householders within the 65 years and over age group, had the lowest median household income at $38,671.

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 county of Hickman County.

FIGURE 1

Hickman County, TN median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Hickman County, 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 four 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 Under 25 years age group demonstrated a remarkable increase of $37,490(87.04%), escalating from a median of $43,070 in 2012 to $80,560 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 $450(1.18%), increasing from a median of $38,221 in 2012 to $38,671 in 2022.

Hickman County, TN household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Hickman County 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 220(2.49%) households where the householder is under 25 years old, 2,366(26.73%) households with a householder aged between 25 and 44 years, 3,666(41.42%) households with a householder aged between 45 and 64 years, and 2,598(29.36%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the county of Hickman County, showcasing varying income levels among different age demographics.

FIGURE 2

Hickman County, TN household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Hickman County: 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 Hickman County 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 69.09% of the households in Hickman County, 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 152 Hickman County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Hickman County, among households headed by individuals aged 25 to 44, an impressive 53.21% match or surpass the state of Tennessee median income of $66,677. These 1,259 households, represent a significant portion of the total 2,366 households in Hickman County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Hickman County, within the age group of 45 to 64 years, a remarkable 53.27% of households meet or exceed the state of Tennessee median income of $66,677. These 1,953 households, out of the total 3,666 households in this age cohort, signify a substantial portion of mature demographic of Hickman County, showcasing commendable financial stability in comparison to the Tennessee state median income benchmark.
• Householder 65 years and over: In Hickman County, among the over 65 years age group, a noteworthy 27.14% of households either match or surpass the state of Tennessee median income of $66,677. These 705 households, constituting notable portion of the Hickman County county 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 Hickman County, TN?

In Hickman County, households led by individuals aged under 25 years report the highest median household income of $80,560 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 Hickman County, TN?

In terms of income distribution across age cohorts, in Hickman County, householders within the under 25 years age group have the highest median household income at $80,560, followed by those in the 45 to 64 years age group with an income of $70,845. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $68,245. Notably, householders within the 65 years and over age group, had the lowest median household income at $38,671..

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

The median age in Hickman County is 41.8, 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, within Hickman County, the age group of 25 to 44 years had the second lowest median household income, recorded at $68,245.

References

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