Key Colony Beach, FL Median Household Income By Age

Key Colony Beach, FL 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 Key Colony Beach population by age, the median age in Key Colony Beach is 66.7 years.

Typically for a location with median age in this range, it suggests a significant population of retirees or older individuals. Interestingly, within Key Colony Beach, the age group of 65 years and over also exhibits the highest median household income, recorded at $108,251.

In terms of income distribution across age cohorts, in Key Colony Beach, the median household income stands at $108,251 for householders within the 65 years and over age group, followed by $90,609 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $68,796.

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 city of Key Colony Beach.

FIGURE 1

Key Colony Beach, FL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Key Colony Beach, 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 three age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $46,904(76.46%), escalating from a median of $61,347 in 2012 to $108,251 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 $49,148(41.67%), declining from a median of $117,944 in 2012 to $68,796 in 2022.

Key Colony Beach, FL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Key Colony Beach 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, 26(7.08%) households with a householder aged between 25 and 44 years, 111(30.25%) households with a householder aged between 45 and 64 years, and 230(62.67%) households where the householder is over 65 years old.

In Key Colony Beach, the age group of 65 years and over 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

Key Colony Beach, FL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Key Colony Beach: 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 Key Colony Beach when compared to the state of Florida 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 Key Colony Beach, 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 Key Colony Beach, among households headed by individuals aged 25 to 44, an impressive 61.54% match or surpass the state of Florida median income of $70,719. These 16 households, represent a significant portion of the total 26 households in Key Colony Beach within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Key Colony Beach, within the age group of 45 to 64 years, a remarkable 59.46% of households meet or exceed the state of Florida median income of $70,719. These 66 households, out of the total 111 households in this age cohort, signify a substantial portion of mature demographic of Key Colony Beach, showcasing commendable financial stability in comparison to the Florida state median income benchmark.
• Householder 65 years and over: In Key Colony Beach, among the over 65 years age group, an impressive 82.17% of households either match or surpass the state of Florida median income of $70,719. These 189 households, constituting a significant portion of the Key Colony Beach city senior population, showcase commendable financial stability compared to the Florida state median income benchmark.

Things to know

Which age group reports the highest median household income in Key Colony Beach, FL?

In Key Colony Beach, households led by individuals aged 65 years and over report the highest median household income of $108,251 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 Key Colony Beach, FL?

In terms of income distribution across age cohorts, in Key Colony Beach, the median household income stands at $108,251 for householders within the 65 years and over age group, followed by $90,609 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $68,796..

How does the median household income for households led by individuals of median age compare in Key Colony Beach, FL?

The median age in Key Colony Beach is 66.7, which falls within the 65 years and over range among the four age groups defined by the US Census Bureau. This demographic suggests a significant population of retirees or older individuals. Interestingly, within Key Colony Beach, the age group of 65 years and over also exhibits the highest median household income, recorded at $108,251.

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