Median Household Income by Age of Householder in Horn Hill, AL (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Horn Hill. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Horn Hill.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | - |
| 45 to 64 years | $71,586 |
| 65 years and over | $25,380 |
TABLE OF CONTENTS
Horn Hill, AL 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 Horn Hill population by age, the median age in Horn Hill is 47.1 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 Horn Hill, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $71,586.
In terms of income distribution across age cohorts, in Horn Hill, where there exist only two delineated age groups, the median household income is $71,586 for householders within the 45 to 64 years age group, compared to $25,380 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 Horn Hill.
FIGURE 1
Horn Hill, AL median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Horn Hill, 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 $38,245(114.71%), escalating from a median of $33,341 in 2012 to $71,586 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 $374(1.50%), increasing from a median of $25,006 in 2012 to $25,380 in 2022.
Horn Hill, AL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Horn Hill 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, 36(32.73%) households with a householder aged between 25 and 44 years, 48(43.64%) households with a householder aged between 45 and 64 years, and 26(23.64%) households where the householder is over 65 years old.
In Horn Hill, 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
Horn Hill, AL household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Horn Hill: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Horn Hill household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Horn Hill: Under 25 years, 25-44 years, 45-64 years, and over 65 years. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
| Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
|---|---|---|---|---|
| Less than $10,000 | - | - | 3 | 4 |
| $10,000 - $14,999 | - | 11 | - | 1 |
| $15,000 - $19,999 | - | - | - | 2 |
| $20,000 - $24,999 | - | - | - | 7 |
| $25,000 - $29,999 | - | 1 | - | 6 |
| $30,000 - $34,999 | - | 5 | - | - |
| $35,000 - $39,999 | - | - | 8 | - |
| $40,000 - $44,999 | - | - | 2 | - |
| $45,000 - $49,999 | - | - | - | 4 |
| $50,000 - $59,999 | - | - | 7 | - |
| $60,000 - $74,999 | - | 6 | 14 | - |
| $75,000 - $99,999 | - | 2 | 8 | 2 |
| $100,000 - $124,999 | - | - | 6 | - |
| $125,000 - $149,999 | - | 11 | - | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Horn Hill when compared to the state of Alabama 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 Horn Hill, 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 Horn Hill, among households headed by individuals aged 25 to 44, an impressive 52.78% match or surpass the state of Alabama median income of $62,068. These 19 households, represent a significant portion of the total 36 households in Horn Hill within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Horn Hill, within the age group of 45 to 64 years, a remarkable 58.33% of households meet or exceed the state of Alabama median income of $62,068. These 28 households, out of the total 48 households in this age cohort, signify a substantial portion of mature demographic of Horn Hill, showcasing commendable financial stability in comparison to the Alabama state median income benchmark.
- Householder 65 years and over: In Horn Hill, among the over 65 years age group, only 7.69% of households either match or surpass the state of Alabama median income of $62,068. These 2 households, constituting low portion of the Horn Hill town senior population, showcase commendable financial stability compared to the Alabama state median income benchmark.
Things to know
Which age group reports the highest median household income in Horn Hill, AL?
In Horn Hill, households led by individuals aged 45 to 64 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 Horn Hill, AL?
In terms of income distribution across age cohorts, in Horn Hill, where there exist only two delineated age groups, the median household income is $71,586 for householders within the 45 to 64 years age group, compared to $25,380 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Horn Hill, AL?
The median age in Horn Hill is 47.1, 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 Horn Hill, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $71,586.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)