Median Household Income by Age of Householder in Howard City, NE (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Howard City. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Howard City.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $50,761 |
| 25 to 44 years | $73,538 |
| 45 to 64 years | - |
| 65 years and over | $67,681 |
TABLE OF CONTENTS
Howard City, NE 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 Howard City population by age, the median age in Howard City is 55.5 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Howard City. 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 Howard City, the median household income stands at $73,538 for householders within the 25 to 44 years age group, followed by $67,681 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $50,761.
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 village of Howard City.
FIGURE 1
Howard City, NE median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Howard City, 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 $31,840(88.84%), escalating from a median of $35,841 in 2012 to $67,681 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 $26,484(26.48%), declining from a median of $100,022 in 2012 to $73,538 in 2022.
Howard City, NE household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Howard City 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 3(3.03%) households where the householder is under 25 years old, 21(21.21%) households with a householder aged between 25 and 44 years, 37(37.37%) households with a householder aged between 45 and 64 years, and 38(38.38%) households where the householder is over 65 years old.
The age group of 25 to 44 years exhibits the highest median household income, while the largest number of households falls within the 65 years and over bracket. This distribution hints at economic disparities within the village of Howard City, showcasing varying income levels among different age demographics.
FIGURE 2
Howard City, NE household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Howard City: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Howard City household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Howard City: 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 | - | - | 6 | - |
| $10,000 - $14,999 | - | - | 7 | 4 |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | 2 | - |
| $25,000 - $29,999 | - | - | 3 | 6 |
| $30,000 - $34,999 | - | 6 | - | 3 |
| $35,000 - $39,999 | 1 | - | - | 1 |
| $40,000 - $44,999 | - | - | - | 2 |
| $45,000 - $49,999 | 1 | 1 | 1 | - |
| $50,000 - $59,999 | 1 | 3 | 2 | 3 |
| $60,000 - $74,999 | - | 2 | 1 | 8 |
| $75,000 - $99,999 | - | 3 | 9 | 7 |
| $100,000 - $124,999 | - | 1 | 1 | 3 |
| $125,000 - $149,999 | - | 3 | 1 | - |
| $150,000 - $199,999 | - | 2 | 4 | - |
| $200,000 or more | - | - | - | 1 |
To further explore the income distribution and gain insights into financial landscape of Howard City when compared to the state of Nebraska 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 Howard City, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $74,681 for the state of Nebraska. 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 Howard City, among households headed by individuals aged 25 to 44, an impressive 52.38% match or surpass the state of Nebraska median income of $74,681. These 11 households, represent a significant portion of the total 21 households in Howard City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Howard City, within the age group of 45 to 64 years, a noteworthy 43.24% of households meet or exceed the state of Nebraska median income of $74,681. These 16 households, out of the total 37 households in this age cohort, signify a notable portion of mature demographic of Howard City, showcasing commendable financial stability in comparison to the Nebraska state median income benchmark.
- Householder 65 years and over: In Howard City, among the over 65 years age group, a noteworthy 50% of households either match or surpass the state of Nebraska median income of $74,681. These 19 households, constituting notable portion of the Howard City village senior population, showcase commendable financial stability compared to the Nebraska state median income benchmark.
Things to know
Which age group reports the highest median household income in Howard City, NE?
In Howard City, households led by individuals aged 25 to 44 years report the highest median household income of $73,538 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 Howard City, NE?
In terms of income distribution across age cohorts, in Howard City, the median household income stands at $73,538 for householders within the 25 to 44 years age group, followed by $67,681 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $50,761..
How does the median household income for households led by individuals of median age compare in Howard City, NE?
The median age in Howard City is 55.5, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Howard City. 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
- 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)